05:28 PM EDT, 04/28/2025 (MT Newswires) -- G Mining Ventures ( GMINF ) after trade Monday released a feasibility study (FS) for the development of its wholly-owned Oko West Gold Project in Guyana.

The company said the FS confirms "robust economics for a low cost, large scale, conventional open pit and underground mining and milling operation, with industry leading operating costs and high rate of return".

It said the study outlines total gold production of 4.3-million ounces over 12.3 years, resulting in an average annual gold production profile of 350,000 ounces with an All-In-Sustaining Cost per ounce of US$1,123. It added the project after-tax net present value at a 5% discount rate is $2.2 billion with an after-tax internal rate of return of 27% at a gold price of $2,500 per ounce.

Monday's statement noted final environmental permits are expected in by the end of June, with a targeted construction decision in second half of 2025. It said the project is "ideally sequenced to leverage the strong macroeconomic conditions" including a strong gold price, lower inflation, and Guyana's rapidly developing economy. The project has an initial capital cost of $972 million and sustaining capital of $650 million over the life of mine.

"The Oko West Feasibility Study marks a major milestone in realizing the value of what we consider one of the world's most exciting undeveloped gold projects. It confirms a long life, high margin operation with strong economics, supported by a proven resource and solid infrastructure," said chief executive Louis-Pierre Gignac. "With Tocantinzinho nearing nameplate capacity and generating meaningful free cash flow, GMIN is well positioned to advance Oko West using the same experienced team and disciplined execution that delivered our first mine ahead of schedule and on budget. We remain committed to responsible development and look forward to deepening our partnership with the Government of Guyana and local communities as we advance Oko West as our second cornerstone asset."

The company' shares closed up $0.36, or 1.9%, to $19.22 on the Toronto Stock Exchange.