FAQ: G Mining Ventures Secures SUDAM Tax Incentive for Tocantinzinho Gold Mine
Summary
G Mining Ventures Corp. has secured a significant tax incentive from Brazil's SUDAM that reduces the corporate income tax rate for its Tocantinzinho Gold Mine from 34% to approximately 15.25% for 10 years starting in fiscal 2025.
What is the main announcement from G Mining Ventures Corp.?
G Mining Ventures announced that Brazil’s Superintendência do Desenvolvimento da Amazônia (SUDAM) has approved the inclusion of its Tocantinzinho Gold Mine in the regional development tax incentive program, significantly reducing the corporate income tax rate.
What specific tax benefit did GMIN receive for the Tocantinzinho Gold Mine?
The approval reduces the nominal corporate income tax rate for the Tocantinzinho Gold Mine from 34% to approximately 15.25% for 10 years starting in fiscal 2025, and the incentive is renewable thereafter.
When does the tax incentive take effect and how long will it last?
The tax incentive takes effect in fiscal 2025 and will last for 10 years, with the possibility of renewal after that period.
Where is the Tocantinzinho Gold Mine located?
The Tocantinzinho Gold Mine is located in Pará State, Brazil, which is described as a mining-friendly and prospective jurisdiction.
Why is this tax incentive important for G Mining Ventures?
According to CEO Louis-Pierre Gignac, the incentive strengthens the mine’s economics, expands margins, and boosts free cash flow to support growth initiatives including the Oko West Gold Project in Guyana and exploration at Gurupi.
What other projects does G Mining Ventures have besides Tocantinzinho?
G Mining Ventures is also developing the Oko West Gold Project in Guyana and conducting exploration at Gurupi, with both projects positioned in mining-friendly jurisdictions.
Who approved the tax incentive for G Mining Ventures?
The tax incentive was approved by Brazil’s Superintendência do Desenvolvimento da Amazônia (SUDAM), which is the regional development authority for the Amazon region.
What is G Mining Ventures’ business focus and strategy?
G Mining Ventures is a mining company focused on acquiring, exploring, and developing precious metal projects to capitalize on value uplift from successful mine development, positioning itself to grow into a mid-tier precious metals producer.
Where can investors find more information and updates about GMINF?
The latest news and updates relating to GMINF are available in the company’s newsroom at https://ibn.fm/GMINF.
What are the stock tickers for G Mining Ventures Corp.?
G Mining Ventures Corp. trades under the ticker GMIN on the TSX (Toronto Stock Exchange) and GMINF on the OTCQX market.
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