08:11 AM EDT, 08/14/2024 (MT Newswires) -- G Mining Ventures ( GMINF ) on Wednesday said it completed its first exports of dore bars from its Tocantinzinho Gold Project (TZ) in Para, Brazil.

"Our first shipments of gold mark another milestone for TZ, and the State of Para in particular, as this shipment represents the first export from a large-scale, modern gold mining operation in the State," said President & Chief Executive Officer Louis-Pierre Gignac. "I am excited as TZ progresses smoothly toward commercial production in the second half of 2024."

The start of production coincides with an environment of record high gold prices, where every ounce sold by GMIN was in excess of $2,400 per ounce, significantly above budget.

The commissioning of all areas of the process plant is complete with plant feed reaching a peak of 10 thousand tonnes per day during the second half of July. Gold production for July was 4,232 ounces with an average gold recovery of 85.1%.

Focus now is on continued ramp up of the process plant to full production and target recoveries, forecast to be reached in H2 2024.