G Mining Ventures Corp. has completed the first US$80 million drawdown under its previously announced US$350 million revolving credit facility, providing critical funding for the development of its 100%-owned Oko Gold Project in Guyana. The financing represents a strategic move to optimize the company's capital structure while advancing key mining operations in mining-friendly jurisdictions. The proceeds from this drawdown were specifically used to repay an equivalent senior secured term loan previously provided by Franco-Nevada GLW Holdings Corp. This refinancing maneuver is expected to generate annual interest savings of approximately US$1.5 million, significantly improving the company's financial efficiency and reducing its cost of capital during the critical development phase of its gold projects.
Julie Lafleur, Vice President of Finance and CFO, emphasized the strategic importance of this transaction, noting that it marks another step in optimizing our capital structure and improving capital efficiency. The refinancing enables G Mining Ventures to strengthen its balance sheet while simultaneously advancing development at both its Oko West operations in Guyana and Tocantinzinho operations in Brazil. The company's access to substantial credit facilities demonstrates strong financial backing and confidence in its project portfolio. The full details of this financing arrangement and corporate updates are available through the company's official communications channel at https://ibn.fm/JiQoA.
This substantial credit facility provides G Mining Ventures with the financial flexibility to continue developing its precious metal projects while maintaining operational momentum across multiple jurisdictions. G Mining Ventures continues to position itself for growth in the mid-tier precious metals sector, leveraging its proven development expertise and strategic access to capital markets. The successful drawdown and refinancing operation underscores the company's ability to execute complex financial transactions while maintaining focus on project development and operational advancement in key mining regions. The transaction represents a significant milestone in the company's financial strategy, allowing for more efficient allocation of capital toward project development rather than debt servicing. This approach is particularly important in the current economic environment where capital efficiency can determine the success or failure of mining projects in development stages.
The Oko Gold Project in Guyana represents a significant opportunity for G Mining Ventures, with the company maintaining 100% ownership of the asset. The project's development is now supported by more favorable financing terms that will reduce the overall cost structure and improve the project's economic viability. Similarly, the Tocantinzinho operations in Brazil benefit from this improved capital structure, allowing the company to advance development activities in both jurisdictions simultaneously. The annual interest savings of approximately US$1.5 million will directly improve the company's bottom line and provide additional capital that can be redirected toward exploration and development activities. This financial maneuver demonstrates G Mining Ventures' sophisticated approach to capital management and its ability to leverage financial markets to support its operational objectives in South America's growing mining sectors.
