G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has completed the first US$80 million drawdown under its previously announced US$350 million revolving credit facility, supporting development of its 100%-owned Oko Gold Project in Guyana. Proceeds were used to repay an equivalent senior secured term loan provided by Franco-Nevada GLW Holdings Corp., generating annual interest savings of approximately US$1.5 million. Vice President, Finance and CFO Julie Lafleur said the refinancing “marks another step in optimizing our capital structure and improving capital efficiency,” enabling GMIN to strengthen its balance sheet while advancing both Oko West and Tocantinzinho operations.
This strategic move underscores the company's commitment to enhancing financial flexibility and reducing costs as it progresses its flagship projects. The Oko Gold Project, located in the mining-friendly jurisdiction of Guyana, is a key asset in GMIN's portfolio. The company is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the TZ Gold Mine in Brazil and the Oko West Gold Project in Guyana, both situated in prospective and mining-friendly jurisdictions.
The drawdown from the revolving credit facility, which was announced earlier, provides GMIN with the necessary capital to continue development activities without diluting existing shareholders. The replacement of the Franco-Nevada loan with lower-cost debt is expected to improve the company's capital efficiency and reduce overall financing expenses. This refinancing is particularly timely as GMIN advances its Oko West project, which is expected to contribute significantly to the company's production profile in the coming years.
G Mining Ventures Corp. is a mining company engaged in the acquisition, exploration, and development of precious metal projects to capitalize on the value uplift from successful mine development. The company is focused on becoming a mid-tier precious metals producer through disciplined capital allocation and development expertise. For more information, visit the company’s newsroom at https://ibn.fm/GMINF.
The full press release is available at https://ibn.fm/JiQoAA. This article has been disseminated on behalf of G Mining Ventures Corp. and may include paid advertising. InvestorWire is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 70+ brands within the Dynamic Brand Portfolio @IBN that delivers access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics, and diverse industries.
