FAQ: G Mining Ventures Completes US$80 Million Credit Facility Drawdown for Oko Gold Project

What is the main announcement in this content?

G Mining Ventures Corp. has completed the first US$80 million drawdown under its US$350 million revolving credit facility to support development of its 100%-owned Oko Gold Project in Guyana.

Why is this drawdown significant for G Mining Ventures?

The refinancing generates annual interest savings of approximately US$1.5 million and represents a step in optimizing the company’s capital structure and improving capital efficiency.

How were the proceeds from the drawdown used?

The US$80 million proceeds were used to repay an equivalent senior secured term loan previously provided by Franco-Nevada GLW Holdings Corp.

What projects will benefit from this financing?

The financing will advance both the Oko West Gold Project in Guyana and the Tocantinzinho (TZ) Gold Mine operations in Brazil.

Who is G Mining Ventures Corp. and what do they do?

G Mining Ventures Corp. (TSX: GMIN, OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects, currently anchored by the TZ Gold Mine in Brazil and Oko West Gold Project in Guyana.

What is the total size of the credit facility mentioned?

The company has access to a US$350 million revolving credit facility, of which this US$80 million represents the first drawdown.

Where are G Mining Ventures’ main projects located?

The company’s key projects are located in mining-friendly jurisdictions: the Oko West Gold Project in Guyana and the TZ Gold Mine (Tocantinzinho) in Brazil.

How can investors get more information about G Mining Ventures?

The latest news and updates relating to GMINF are available in the company’s newsroom at https://ibn.fm/GMINF.

What did the company’s CFO say about this transaction?

Julie Lafleur, Vice President, Finance and CFO, stated that the refinancing ‘marks another step in optimizing our capital structure and improving capital efficiency,’ enabling the company to strengthen its balance sheet.

What is the strategic importance of this financing for G Mining Ventures?

This financing supports the company’s growth strategy to become the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise.