11:45 AM EST, 01/21/2025 (MT Newswires) -- (Updates shares.)

G Mining Ventures ( GMINF ) on Tuesday said that this year it aims to produce 175,000 to 200,000 ounces of gold at the Tocantinzinho (TZ) mine in Brazil.

Cash costs for the year are seen at US$590 to US$655 per ounce and all-in sustaining costs were pegged at US$995 to US$1,125 per ounce.

G Mining's ( GMINF ) guidance also includes total sustaining capital expenditures of US$60 million to US$70 million, and US$200 million to US$240 million in development costs for the Oko West project in Guyana.

"We expect to build on GMIN's 2024 operational success in the year ahead, as TZ ramps up throughput, reaching nameplate capacity early in the year, generating meaningful free cash flow to advance development activities at Oko West," said Louis-Pierre Gignac, G Mining's ( GMINF ) chief executive. "TZ will remain our focus in 2025 but will be complemented by Oko West development initiatives, including permitting and early works activities."

G Mining ( GMINF ) said it plans to increase investment in greenfield and brownfield exploration across its portfolio.

G Mining ( GMINF ) shares were last seen up $0.29 to $13.18 on the Toronto Stock Exchange.

Price: 13.16, Change: +0.26, Percent Change: +2.06