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Oko West accounts for 4.64M of 6.52M ounces of gold
…as company’s reserves surge 221%
(Kaieteur News) – Canadian mining company G Mining Ventures Corp. (GMIN) has reported a major increase in its gold reserves, owed to the addition of the Oko West Project located in Region Seven, Guyana, which now stands among the largest gold projects under construction globally.
In its year-end 2025 mineral reserves and resources update, the company said its proven and probable gold reserves rose by 221% year-over-year to 6.52 million ounces, with the Oko West project accounting for the bulk of the increase, even as some depletion occurred at its operating Tocantinzinho Gold Mine in Pará State, Brazil, following the first full year of commercial production.
The completion of a feasibility study in 2025 revealed that Oko West project alone contains 4.64 million ounces of proven and probable reserves at an average grade of 1.89 grams of gold per tonne. The study outlines a 12.3-year mine life with average annual production projected at about 350,000 ounces of gold.
An aerial view of the Oko West gold project in Guyana
According to GMIN, 88% of resources at Oko West were converted into mineral reserves. “This is a positive indicator of geological confidence and resource maturity, also demonstrated by the conversion of 2.40 million ounces of inferred resources (YE 2024) into the indicated category, reducing inferred ounces to 1.17 million ounces at year-end 2025,” the company noted.
As of December 31, 2025, the Tocantinzinho mine proven and probable reserves stood at 1.87 million ounces. That project produced approximately 172,000 ounces of gold during 2025. Meanwhile, Gurupi Project also in Brazil, hosts 1.83 million ounces of indicated resources and 0.77 million ounces of inferred resources, as part of its broader growth strategy.
President and Chief Executive Officer Louis‑Pierre Gignac said the updated reserve figures strengthen the company’s long-term production outlook. “Today’s mineral reserve update positions G Mining Ventures with significant strategic optionality,” Gignac said.
“We now have a cash-generating asset at Tocantinzinho supporting the construction of Oko West, one of the largest gold projects under construction globally, while advancing Gurupi through technical studies. This three-asset platform provides multiple pathways to production growth, portfolio diversification, and exploration upside.”
Gignac noted that with Oko West advancing toward first gold pour in the second half of 2027 and Gurupi gold project development taking shape, GMIN is building a diversified, long-life portfolio positioned for sustained growth well into the next decade.
Construction at Oko West is progressing, with about 60% of detailed engineering completed and full completion targeted by the third quarter of 2026. The company expects commercial production by January 2028.
In December, this publication reported that GMIN secured a 20-year mining licence from the Guyana Geology and Mines Commission (GGMC) for its 100 per cent-owned Oko West project.
The licence, which took effect on December 5, 2025, authorises full development, operation and commercial production at the site.
Analysts have pointed to Oko West as the company’s key growth driver. GMIN has been recognised as one of the Toronto Stock Exchange’s top-performing companies, amid a strong year for gold producers driven by rising prices.
GMIN is among five Canadian mining companies collectively controlling an estimated 15.5 million ounces of gold across various stages of development in Guyana. These projects, spanning across Guyana’s mining regions, are progressing through exploration, feasibility studies, and permitting. Many of the companies have praised Guyana’s mining-friendly policies and are banking on these projects to drive substantial growth for their shareholders.
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