11:06 AM EDT, 07/09/2024 (MT Newswires) -- G Mining Ventures ( GMINF ) on Tuesday said it completed its first gold pour at its Tocantinzinho Gold Project (TZ) in Brazil.

The company said first pour yielded 440 ounces of gold, and the project remains on time and budget for commercial production in the second half of this year.

"I am delighted to announce that TZ has achieved the significant milestone of the first gold pour, less than two years after the formal construction decision. The team successfully constructed TZ on time and in line with the original budget while maintaining an outstanding safety record," chief executive Louis-Pierre Gignac said in release.

Once in commercial production, TZ will become Brazil's third-largest primary gold mine, the company said.

G Mining ( GMINF ) shares were last seen down $0.02 to $2.55 on the Toronto Stock Exchange.

Price: 2.55, Change: -0.02, Percent Change: -0.78