Canadian-based mining company G Mining Ventures Corp. (GMIN) has secured major financing to push ahead with the development and construction of its 100-percent-owned Oko West Gold Project in Region Eight, Guyana.
The company announced that it has obtained commitments for an initial US$387.5 million financing package, which could increase by an additional US$150 million six months after closing, subject to lender approval. This brings the potential total financing to a substantial US$537.5 million — a move that GMIN says gives it the financial flexibility to bring the Oko West project to life.
The financing is anchored by a revolving credit facility agreement with a syndicate of international financial institutions, led by National Bank Capital Markets and Macquarie Bank Limited as joint bookrunners and co-lead arrangers. Other participants include Bank of Montreal, ING Capital LLC, Royal Bank of Canada, Citibank, and CIBC. The facility allows GMIN to borrow up to US$350 million initially, with the option to increase by US$150 million post-closing.
Additionally, GMIN has partnered with Komatsu Finance Chile S.A., a subsidiary of global equipment manufacturer Komatsu Ltd., to finance mining and construction equipment for the project. Through a Master Loan and Security Agreement, Komatsu Finance will provide up to US$37.5 million in financing across multiple equipment loans.
“With these financing arrangements in place, together with strong cash flow from the Tocantinzinho Mine, we now have the financial resources required to bring Oko West into production,” said Julie Lafleur, Vice President of Finance and Chief Financial Officer at GMIN. She noted that the non-dilutive financing structure strengthens the company’s balance sheet while reflecting the confidence of its lenders in GMIN’s ability to deliver on its commitments.
The announcement follows GMIN’s receipt of the environmental permit for Oko West from the Environmental Protection Agency (EPA) of Guyana on September 2, 2025. With both regulatory approval and financing secured, the company is expected to make its Final Investment Decision (FID) later this month, which will detail projected capital costs and remaining expenditures to completion.
Under the revolving credit facility, the initial term extends for three years, with options for annual extensions subject to lender approval. The funds will support general corporate purposes, including debt refinancing, project development, and working capital.
Alongside the financing announcement, GMIN also revealed the appointment of Jamie Flegg as Vice President of Corporate Development. Flegg, who has over a decade of experience in mining capital markets and investment management, previously served as Chief Development Officer at Sigma Lithium.
President and Chief Executive Officer Louis-Pierre Gignac welcomed Flegg to the leadership team, saying his experience will be instrumental as GMIN positions itself as the next mid-tier gold producer.
G Mining Ventures currently operates the Tocantinzinho Mine in Brazil and is advancing its Gurupi and Oko West projects, both located in mining-friendly regions with promising exploration potential.
The Oko West project represents one of Guyana’s most significant ongoing gold developments and is expected to play a key role in strengthening the country’s position as a growing player in the global mining sector.
