G Mining Ventures Corp · TSX:GMIN
G Mining Ventures — FY2024 Earnings Presentation
35 slides from G Mining Ventures's earnings presentation, Mar 28, 2025
Slide 1: 2024: A Year of Execution
TSX:GMIN | OTCQX:GMINF 2024: A Year of Execution BUY. BUILD. OPERATE. Q4 & Year-End 2024 Earnings Call March 28, 2025 All figures are in U.S. dollars unless otherwise noted.
Slide 2: Cautionary Statements
Cautionary Statements Generally, forward-looking information can be identified by use of words such as “outlook”, “objective”, “may”, “could”, “would” , “will” ,“expect”, “intend”, “estimate”, “forecasts”, “project”, “s eek”, “anticipate”, “believes”, “should”, “plans ” “pro forma”, or “continue”, a
Slide 3: Agenda and Speakers
Agenda and Speakers 01 Corporate Highlights 02 Operational Performance 03 Health & Safety Achievements 04 Financial Results 05 2025 Catalysts & Outlook Louis-Pierre Gignac Julie Lafleur President & CEO, Director CFO and VP, Finance 06 Q&A TSX:GMIN 3
Slide 4: Buy, Build, Operate: Our Strategy in Action
Buy, Build, Operate: Our Strategy in Action Who We Are: GMIN is anchored by its Tocantinzinho Gold Mine in Brazil, supported by the Gurupi Project in Brazil and the Oko West Gold Project in Guyana — all with significant exploration upside and located in Oko West Gold Project, Guyana Gold | Developme
Slide 5: 2024: A Transformational Year
2024: A Transformational Year Acquisition of 05 CentroGold Strong Operational Performance Underpinning Robust Financial Results Driving Balance 04 Oko West PEA Reliable Production Sheet Strength Commercial Production at 03 Tocantinzinho Merger with Reunion Gold 02 Acquisition of Oko West Strategic A
Slide 6: Operational and Financial Highlights
Operational and Financial Highlights Q4 2024 YE 2024 40,147 oz 63,566 oz Gold Production Gold Production $862/oz $972/oz AISC(1,2) AISC(1,2) Continued Execution $2,560/oz $2,545/oz Realized Gold Price(1) Realized Gold Price(1) Robust Cash Generation $58 million l $0.26/share $71 million l $0.44/shar
Slide 7: Operational Performance
Operational Performance
Slide 8: Tocantinzinho Operational Results
Tocantinzinho Operational Results Q4 2024 YE 2024 Construction completed on time and on budget. TZ Gold Mine Mining First gold pour completed in July 2024. Ramp-up focused on testing processing circuits with nameplate ore Ore Tonnage Mined kt 2,164 6,406 feeds. Total Tonnage Mined kt 4,269 14,293 Mu
Slide 9: Operating Cost Breakdown
Operating Cost Breakdown Q4 2024 YE 2024 $US’000, except as otherwise noted Operating Expenses $19,327 $33,698 A newly built gold mine with Royalties $3,732 $4,439 industry leading cost profile. Total Cash Costs $23,059 $38,137 Plus: Sustaining Capital and ARO(1) $7,517 $10,768 Site Level AISC $30,5
Slide 10: TZ Mine – Peer Leading Cost Profile to Drive Cash Flow
TZ Mine – Peer Leading Cost Profile to Drive Cash Flow Global Gold Mines l All-In-Sustaining Cost Curve $4,000 $3,500 All in Sustaining Costs (US$/oz of Gold Sold) $3,000 $2,500 Q4-24 AISC $2,000 $862 per ounce sold $1,500 $1,000 $500 $- 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile Source: S&
Slide 11: Health & Safety Achievements
Health & Safety Achievements
Slide 12: 2024 Health & Safety Highlights
2024 Health & Safety Highlights GMIN remains committed to responsible mining, minimizing impact, empowering communities, and upholding international best practices Strong safety performance to deliver TZ Mine: Operations team currently includes: ✓ 2.5 million person-hours worked ✓ 1,055 employees an
Slide 13: Financial Highlights
‘eat Financial Highlights a
Slide 14: Q4 & Full-Year 2024 Financial Highlights
Q4 & Full-Year 2024 Financial Highlights Q4 2024 YE 2024 $US’000, except as otherwise noted Gold Ounces Sold 39,938 57,082 Realized Gold Price $2,560 $2,545 Revenue $102,254 $145,251 Profitability Net Income $47,597 $62,005 Adjusted Net Income(1) $57,976 $71,084 EBITDA(1) $77,932 $93,993 Adjusted EB
Slide 15: Statement of Cash Flow
Statement of Cash Flow Q4 2024 YE 2024 $US’000, except as otherwise noted Operating Activities before Changes in Net Working Capital $73,181 $91,313 Net Change in Working Capital ($29,780) ($62,821) Operating Activities $43,401 $28,492 Investing Activities ($26,181) ($119,826) Financing Activities $
Slide 16: Free Cash Flow Summary
Free Cash Flow Summary(1) Q4 2024 YE 2024 $US’000, except as otherwise noted Operating Activities before Changes in Net Working Capital $73,181 $91,313 Investment in Long Term Inventories $16,953 $16,953 Net Change in Working Capital ($29,780) ($62,821) Sustaining Capital Expenditures inclusive of C
Slide 17: Q4 Cash Position Bridge
Q4 Cash Position Bridge Figures in USD Millions Free Cash Flow $53 million $200 $17 ($30) $180 $73 ($7) $160 $158 ($36) $6 $140 $13 $141 $120 $100 $105 $80 $60 $40 $20 $0 Cash Balance Cash Flow Investment in Long Changes in Sustaining Starting Cash Non-Sustaining Net Financing FX Adjustments Cash Ba
Slide 18: 2025 Catalysts & Outlook
2025 Catalysts & Outlook
Slide 19: 2025 Production and Cost Guidance
2025 Production and Cost Guidance Operational Estimates Unit 2025E 2025 Outlook by Half Ore Tonnes Mined kt 6,600 Total Tonnes Mined kt 23,100 Slightly lower strip Ore Tonnes Mined 47% 53% ratio in H2 Strip Ratio W:O 2.50 Total Tonnes Processed kt 4,300 Mining rate increased Total Tonnes Mined 39% 6
Slide 20: Oko West – Development Update
Oko West – Development Update PEA HIGHLIGHTS Region 7 100% owned PEA o Planned average gold production 353,000 pa at $986 AISC for 13 years o After-tax NPV5% of $2.5 billion and IRR of 31% at $2,500/oz gold price Guyana 6.5% NSR Royalty held by Government(1) Q3-24 o Startup capital cost of $936 mill
Slide 21: Oko West - Accelerated Timeline to Production
Oko West - Accelerated Timeline to Production 2024 2025 2026 2027 2028 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 PEA ESIA Permitting Continue to pursue exploration upside and Early works opportunities to enhance value Feasibility Study Detailed Engineering Construction Sign Grinding Open
Slide 22: 2025 Exploration Strategy
2025 Exploration Strategy Tocantinzinho Mine 688 km2 Land Package Reserve replacement: o Year-end reserves remain at 2Moz after processing 73kozs in 2024. Exploration strategy: o Focused on extending 10-year mine life by targeting near-mine discoveries within 15km of the plant Near mine exploration
Slide 23: 2025 Exploration Strategy Continued
2025 Exploration Strategy Continued Oko West Project Near Pit Exploration budget: $8 million o Expanding the MRE to improve future mine plans and extend the LOM o Exploring UG mineralization in Blocks 5 and 6 NW Extension o Evaluating additional mineralized saprolite material o Identifying new depos
Slide 24: 2025 Exploration Strategy Continued
2025 Exploration Strategy Continued Gurupi Project Updated resources of the three known deposits o 44Mt at 1.31 g/t Au for 1.8Moz of indicated resources o 19Mt at 1.29 g/t Au for 0.8 Moz of inferred resources Exploration budget: $2 million to $4 million o Focusing on data compilation and interpretat
Slide 25: 2025 Catalysts & Outlook
2025 Catalysts & Outlook Upcoming Milestones Gurupi Oko West Tocantinzinho Oko West Oko West Oko West All Assets Published 43-101 Starte of Early Reach Nameplate Feasibility Study Project Financing Continuation of Greenfield and Resource Update Works Construction Capacity Final Environmental Constru
Slide 26: Questions?
Thank you for joining us today! TSX:GMIN | OTCQX:GMINF Questions? INVESTOR RELATIONS Jessie Liu-Ernsting VP, Investor Relations & Communications Phone: 647.728.4176 Email: [email protected] FOLLOW US: TSX:GMIN 26
Slide 27: Appendix – Additional Information
Appendix – Additional Information
Slide 28: Q4-24 AISC to Cost of Sales Reconciliation
Q4-24 l AISC to Cost of Sales Reconciliation Figures in USD Millions $45.0 $40.0 $39.5 $35.0 $34.4 ($7.4) $16.4 $30.0 ($0.1) $25.0 $27.0 $26.9 ($3.9) $23.0 $23.1 $20.0 $15.0 $10.0 $5.0 $0.0 All-In-Sustaining Cost Sustaining Capital Accretion to General and Depreciation Cost of Goods Sold Rehabilitat
Slide 29: Q4-24 AISC to Real Cost Reconciliation
Q4-24 l AISC to Real Cost Reconciliation Q4-24 Per oz Sold $US’000, except as otherwise noted Operating Expenses $19,327 $484 Royalties $3,732 $93 Total Cash Costs $23,059 $577 Plus: Sustaining Capital and ARO(1) $7,517 $188 Site Level AISC $30,576 $766 Plus: General and Administrative Costs $3,865
Slide 30: 2024 ESG Highlights
2024 ESG Highlights Environmental Stewardship Social Impact Governance & Human Rights ✓ All operating licenses secured at TZ, including Tailings ✓ R$ 505K+ in social projects: school upgrades, ✓ Human Rights Impact Assessment underway Pond 2 expansion (operational end-2025) healthcare support, commu
Slide 31: Appendix – MRMR Assumptions
Appendix – MRMR Assumptions
Slide 32: YOY Growth in Mineral Reserves and Resources
YOY Growth in Mineral Reserves and Resources M&I Resources of 8.3 Moz @ 1.57 g/t, Inferred Resources of 2.4 Moz @ 1.92 g/t M&I Resources Inferred Resources Long Life Assets Tonnes Grade Ounces Tonnes Grade Ounces +10 years of mine life Project Kt g/t Au koz Au kt g/t Au koz Au TZ 55,767 1.22 2,181 7
Slide 33: Mineral Reserves and Resources Assumptions and Notes
Mineral Reserves and Resources Assumptions and Notes 1. The Mineral Resources described above have been prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") (2014) and the best practices described by CIM (2019). 2. Rounding of values to the
Slide 34: Mineral Reserves and Resources Assumptions and Notes
Mineral Reserves and Resources Assumptions and Notes Project specific MRMR disclosures continued: 15. The effective date of the Tocantinzinho Mineral Resource Estimate is December 31, 2024. 16. The ore modelling was completed using a numeric estimation in Leapfrog using a cut-off grade of 0.3 g/t Au
Slide 35: Graduation to TSX
Graduation to TSX TSX:GMIN 35