G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) reported second-quarter 2026 revenue of $157.1 million, driven by sales of 37,439 ounces of gold at an average realized price of $4,197 per ounce. The company's gold production totaled 36,845 ounces, a 16% sequential increase, while net income reached $72 million, or $0.30 per basic share. Free cash flow for the quarter was $84.8 million, reflecting strong operational performance and cost management.
The company ended the quarter with $225.7 million in cash and cash equivalents and $33 million in long-term debt, resulting in a net cash position of $192.7 million. This robust balance sheet provides financial flexibility as the company continues to advance its growth projects.
G Mining maintained its 2026 production guidance of 160,000 to 190,000 ounces, with approximately 61% of output expected in the second half of the year as higher-grade Phase 2 mineralization is accessed at the Tocantinzinho mine. However, the company revised its full-year cash cost guidance to $836-$965 per ounce and all-in sustaining cost (AISC) guidance to $1,330-$1,544 per ounce, reflecting higher input costs and operational adjustments. Capital expenditure guidance remains unchanged.
The company’s Oko project in Guyana remains on schedule, with first gold targeted for the second half of 2027. The completed acquisition of G2 Goldfields is expected to support the development of an expanded Oko gold project, enhancing the company's growth profile. This strategic move aligns with G Mining’s goal of becoming a mid-tier precious metals producer.
“Our strong second-quarter results reflect the continued ramp-up at Tocantinzinho and our disciplined approach to capital allocation,” said a company spokesperson. “With a solid cash position and a clear path to production growth, we are well-positioned to deliver long-term shareholder value.”
The company’s ability to maintain production guidance while managing costs is a positive signal for investors, especially in a volatile gold price environment. The average realized price of $4,197 per ounce underscores the favorable market conditions for gold producers.
G Mining Ventures is engaged in the development, operation, and exploration of precious metal projects in mining-friendly jurisdictions, including Brazil and Guyana. The company trades on the TSX under the symbol “GMIN” and on the OTCQX under “GMINF.”
For more information on the company’s results, visit the full press release.
