G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has reported robust financial results for the second quarter of 2026, with revenue reaching $157.1 million on sales of 37,439 ounces of gold at an average realized price of $4,197 per ounce. The company also maintained its full-year 2026 production guidance of 160,000 to 190,000 ounces, signaling confidence in its operational outlook.
During the quarter, gold production totaled 36,845 ounces, a 16% increase sequentially. The company achieved a net income of $72 million, or $0.30 per basic share, and generated free cash flow of $84.8 million. As of the end of the quarter, G Mining held $225.7 million in cash and cash equivalents and $33 million in long-term debt, resulting in a net cash position of $192.7 million. This strong balance sheet positions the company well for future growth initiatives.
The company attributed the sequential production increase to improved performance at its Tocantinzinho mine in Brazil. Approximately 61% of the expected 2026 production is anticipated in the second half of the year as higher-grade Phase 2 mineralization is accessed. This strategic sequencing is expected to optimize operational efficiency and cost management.
G Mining revised its full-year cash cost guidance to $836-$965 per ounce and all-in sustaining cost (AISC) guidance to $1,330-$1,544 per ounce, while maintaining its capital expenditure guidance. These adjustments reflect current market conditions and operational performance.
In addition to operational achievements, the company made significant strategic progress. Construction at the Oko project in Guyana remains on schedule, with first gold targeted for the second half of 2027. The completed acquisition of G2 Goldfields is expected to support the development of an expanded Oko gold project, enhancing the company’s long-term growth prospects.
The company’s focus on development and exploration in mining-friendly jurisdictions, including Brazil and Guyana, underscores its commitment to becoming a leading mid-tier precious metals producer. With a strong balance sheet and proven development expertise, G Mining is well-positioned to capitalize on value uplift from successful mine development.
For more details, the full press release is available at https://ibn.fm/jd2EN. Investors can also access the latest news and updates on GMINF in the company’s newsroom at https://ibn.fm/GMINF.
