07:44 AM EDT, 03/28/2025 (MT Newswires) -- G Mining Ventures ( GMINF ) on Friday reported a swing to a fourth-quarter adjusted profit as the TZ Mine starts production.

The company reported adjusted net income of $58 million, or $0.26 per share, compared with an adjusted loss of $521,000 or $nil per share, in the prior year period.

Quarterly revenue was $102 million, driven by the sale of 39,938 ounces of gold. Revenue reflects commercial production at TZ Mine in Brazil which began last September. G Mining ( GMINF ) did not book any revenue for the previous corresponding quarter.

"2024 marked a transformational year for GMIN as we executed all phases of our 'Buy. Build. Operate.' Strategy," said Chief Executive Louis-Pierre Gignac. "With just four months of commercial production, TZ is already generating significant free cash flow, giving us the financial flexibility to fund our next phase of growth. The acquisition of Oko West, recognized as one of the top undeveloped gold projects globally, positions us to surpass 500,000 ounces of annual production."

GMIN confirmed its 2025 guidance first released in January.