G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF, FRA:W97) revealed construction at its Oko West Gold Project in Guyana is advancing on schedule and on budget, keeping the company on track for a first gold pour in the second half of 2027 and commercial production in January 2028.
The company has spent approximately US$292 million, or roughly 30% of the project’s initial capital estimate of US$973 million, since development activities commenced in October 2025. Overall project completion has reached 19.7% based on earned value, with total commitments reaching US$525 million, or approximately 54% of initial capital.
“We are very pleased with the rapid construction progress being made at Oko West, which is tracking well on-schedule for first gold pour in the second half of 2027 and on-budget,” said Louis-Pierre Gignac, G Mining’s CEO.
“Our strategy of initiating development activities well ahead of final permit receipt has delivered meaningful value for our shareholders. By acting early, we reduced project timeline risk and minimized inflationary impacts across key scopes by securing procurement contracts earlier.”
Key process plant work is progressing, with grinding circuit excavation complete, ball mill foundations poured, and SAG mill pier work underway. Both mills are due for delivery in July 2026 and expected to be operational by August 2027.
Power plant generators are arriving roughly two months ahead of schedule, with the plant targeted for July 2027.
At the tailings storage facility, clearing has reached 36% completion, while mining fleet assembly and grade control drilling are also advancing.
Detailed engineering and procurement have each reached approximately 80% completion, with all major procurement packages awarded at or below budget prices. Capital expenditure guidance for 2026 and 2027 remains unchanged at US$514 million to US$568 million and US$217 million to US$240 million, respectively.
The on-site workforce totaled 1,379 personnel by the end of March, with Guyanese nationals comprising 82%.
The company also completed the acquisition of a 20% interest in Rock Solid International, which owns and operates the wharf and storage facilities at the Eccles Port Facility on the Demerara River, securing priority handling and preferential rates for equipment and materials.
