Early works construction gets under way at Oko West – GMIN
Toronto-listed G Mining Ventures (GMIN) has initiated site preparation activities at its Oko West gold project, in Guyana.
With the interim environmental permit from the Guyana Environmental Protection Agency (EPA) already in hand, the early works construction programme is now officially under way, as a part of the total $200-million to $240-million Oko West capital expenditure guidance for 2025.
Site preparation activities are in progress for the barge landing on the Cuyuní river and the permanent camp area, which are key initial infrastructures to support future development.
Concurrently, GMIN continues to advance permitting efforts toward securing the full environmental licence from the EPA.
“With site preparation activities initiated ahead of schedule, we are applying our extensive development expertise to ensure seamless execution while upholding high safety, environmental, and social standards. These early-stage activities lay the groundwork for potentially fast-tracking the project construction, once we publish the feasibility study, secure financing and make a formal construction decision, all anticipated by the middle of 2025,” said president and CEO Louis-Pierre Gignac.
The Oko West feasibility study will be published in the second quarter, incorporating updated mineral resource and mineral reserve estimates.
The preliminary economic assessment for the Oko West project showcases an aftertax net present value of $1.4-billion, an internal rate of return of 21% and a payback of 3.8 years at a base case gold price of $1 950/oz, with average yearly gold output of 353 000 oz at an all-in sustaining cost of $986/oz for 12.7 years.
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