G Mining Ventures (GMIN) - Delivering the TZ Gold Mine on Time & Budget

Interview with Louis-Pierre Gignac, President & CEO of G Mining Ventures (TSX-V: GMIN)

Recording date: 17th May 2023

G Mining Ventures (GMIN) is actively engaged in the construction of the TZ Gold Mine in Brazil, a significant project that is set to become the third largest primary gold mine in the country. With construction progress at approximately 25%, the company has already invested over 1.2 million work hours into the project. Despite the challenges of fluctuating market conditions and shifting goalposts, GMIN has successfully adhered to its budget, closely tracking the feasibility study budget with $172 million spent and $280 million committed out of a total budget of $460 million. While inflation has affected energy and fuel prices, the company has managed to procure most of its equipment from Brazil, with some key components sourced from China. Maintaining efficient logistics and timely delivery of equipment remain crucial for GMIN to ensure the project is completed on schedule.

GMIN's focus on cost management and strategic sourcing has allowed them to navigate the complexities of large-scale construction projects. They have observed inflationary pressures on energy and fuel prices, while seeing a decrease in prices for steel, cement, and other consumables. The company's meticulous planning and commitment to execution have positioned them well to control capital expenditures, as they remain confident in their ability to manage the project's financial aspects. With a dedicated team and a clear focus on completing the project on time, GMIN aims to deliver the TZ Gold Mine successfully, contributing to Brazil's gold mining industry while exploring opportunities for further growth and acquisition of additional assets in the future.

0:00 - Company overview
0:21 - Updates from the Tocantinzinho Gold Project (TZ)
1:08 - Fixing the cost estimates
4:24 - Perks of operating in Brazil with regard to logistics
6:18 - Focus of the company to be punctual with their timetables
8:27 - Overview of people working on the construction of TZ
9:19 - Possible changes of scope in the economic studies
11:57 - Perspective on the current valuation of the company
13:53 - Focusing on the things the company can control
16:58 - Overview of the metallurgical characteristics of TZ
17:59 - Next steps for the company
19:56 - Inherited data from El Dorado
21:14 - Opportunities in the M&A space
22:59 - Checklist for the next possible acquisition
26:54 - Effects of strategic investors in the company’s share register
28:56 - Projected newsflow for the rest of 2023
31:03 - Outro

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