Q2 2026 G Mining Ventures Corp Earnings Call Transcript
Key Points
- G Mining Ventures Corp (GMINF) reported a strong second quarter with gold production of 36,845 ounces, a 16% increase over Q1 2026, and free cash flow growing more than 50% to $85 million.
- The company closed the transformational acquisition of G2, consolidating the Oko West and Oko Main projects into a single large-scale, long-life Tier 1 gold mining complex.
- Oko West construction is advancing on schedule and on budget, with 28% overall project progress, 99% procurement completion, and first gold still targeted for the second half of 2027.
- The company maintains a strong balance sheet with $576 million in available liquidity, including an undrawn $350 million revolving credit facility, to fund the remaining Oko West construction.
- G Mining Ventures Corp (GMINF) achieved a record average realized gold price of $4,197 per ounce and maintained a strong safety record with zero lost time injuries during the quarter.
- G Mining Ventures Corp (GMINF) revised its full-year 2026 cash cost and all-in sustaining cost guidance upwards, primarily due to the impact of a stronger Brazilian real on its cost base.
- Cash and cash equivalents decreased from $287 million at the end of Q1 to $226 million at the end of Q2, reflecting the heavy investment period at Oko West.
- The company's net cash position decreased from $248 million to $193 million quarter-over-quarter as it continues to fund the Oko West construction.
- The grade profile at Tocantinzinho is expected to be variable, with increases anticipated in Q3 and Q4, which could lead to uneven quarterly production results.
- The exchange of shares for US holders of GUYGF has not been completed yet, as the finalization of the process is dependent on brokers' administrative procedures.
Good morning, and welcome to G Mining Ventures second-quarter 2026 results conference call. (Operator Instructions) Please note that today's call is being recorded. I will now turn the call over to Jean-Francois Lemonde, Vice President, Investor Relations.
Thank you, operator, and good morning to everyone joining GMIN's 2026 second quarter operational and financial results conference call. In addition to myself, we have on the line Louis-Pierre Gignac, Chief Executive Officer, and Julie Lafleur, Chief Financial Officer and VP Finance. I would like to remind everyone that after management's remarks; the call will be followed by a Q&A session.
As we will be making forward-looking statements during this call, please refer to the cautionary notes and risk disclosure in our MD&A and on slide 2 of the webcast presentation. Also, please bear in mind that all dollar amounts mentioned during the call are in US dollars unless otherwise noted. I will now turn the call over
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