G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) announced its second-quarter 2026 financial results, reporting revenue of $157.1 million from the sale of 37,439 ounces of gold at an average realized price of $4,197 per ounce. The company produced 36,845 ounces of gold during the quarter, a 16% increase sequentially, and achieved net income of $72 million, or $0.30 per basic share. Free cash flow reached $84.8 million, reflecting strong operational efficiency.
The company ended the quarter with a robust balance sheet, holding $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 financial strength positions G Mining to fund its ongoing development projects and pursue growth opportunities.
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. The company revised its full-year cash cost guidance to $836-$965 per ounce and all-in sustaining cost guidance to $1,330-$1,544 per ounce, while keeping capital expenditure guidance unchanged. These revisions reflect the anticipated cost profile as the mine transitions to higher-grade ore.
Construction at the Oko project remains on schedule, with first gold targeted for the second half of 2027. The recently completed G2 Goldfields acquisition is expected to support the development of an expanded Oko gold project, enhancing the company's growth pipeline.
The strong quarterly results and maintained guidance underscore G Mining's ability to execute its development strategy and deliver value to shareholders. The company's focus on mining-friendly jurisdictions in Brazil and Guyana, combined with its proven development expertise, positions it well to become a mid-tier precious metals producer.
Investors can access the full press release for more details, and the latest news and updates are available in the company's newsroom here.
