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Financings

G Mining to obtain $387.5M (U.S.) financing package

By The Northwire Desk — AI Analysis Oct 06, 2025 · 12:37 GMIN · 29.47 G Mining Ventures Corp.
GMIN · Price

Executive Summary

  • G Mining Ventures Corp. secured a non‑dilutive financing package of up to US$537.5 million, comprising a US$350 M revolving credit facility (with a US$150 M accordion option) and up to US$37.5 M equipment loan from Komatsu Finance Chile.
  • The financing gives the company sufficient liquidity to advance the 100%‑owned Oko West gold project in Guyana and supports a forthcoming Final Investment Decision (FID).
  • G Mining also announced the appointment of Jamie Flegg as Vice‑President, Corporate Development, strengthening its capital‑markets expertise.

Key Details

  • Revolving Credit Facility
  • Senior secured facility: US$350 million with an accordion feature for an additional US$150 million exercisable six months post‑closing, subject to lender approval.
  • Lead arrangers/bookrunners: National Bank Capital Markets and Macquarie Bank Ltd.; participants include BMO, ING Capital LLC, RBC, Citibank, CIBC.
  • Maturity: Initial term up to 3 years, with annual extension options resetting tenor to three years upon lender consent.
  • Use of proceeds: General corporate purposes – refinancing existing debt, Oko West development, working capital.

  • Pricing: SOFR + 0.10 % credit spread adjustment; margin 2.75 %–3.75 % depending on net leverage ratio.

  • Equipment Financing (MLSA)

  • Lender: Komatsu Finance Chile S.A. (subsidiary of Komatsu Ltd.).
  • Structure: Multiple equipment notes, total principal amount not to exceed US$37.5 million.

  • Purpose: Procurement of mining and construction equipment for Oko West project.

  • Total Potential Financing Commitment

  • Initial commitment: US$387.5 million.

  • Additional possible drawdown after six months: US$150 million, bringing total potential financing to US$537.5 million.

  • Project Impact

  • Environmental permit for Oko West received on Sep 2, 2025 (Guyana EPA).

  • Financing enables G Mining to make a Final Investment Decision (FID) later this month, outlining initial capital cost, expenditures incurred to date, and remaining spend through project completion.

  • Leadership Appointment

  • Jamie Flegg appointed Vice‑President, Corporate Development.

  • Background: 12+ years in mining capital markets, former Chief Development Officer at Sigma Lithium, Director of Investment Management at Waterton Global Resource Management, CFA charterholder, MBA, BSc (Hons) Queen’s University; board member of Comet Lithium Corp.

  • Executive Comments

  • Julie Lafleur (VP Finance & CFO): Emphasized the non‑dilutive nature of the package and its role in delivering Oko West on schedule and within budget.
  • Louis‑Pierre Gignac (President & CEO): Highlighted Jamie Flegg’s addition as a boost to G Mining’s capital‑markets capabilities during this growth phase.

Notable Quotes

  • “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.” – Julie Lafleur, VP Finance & CFO
  • “His proven track record in corporate development and capital markets will be instrumental as we continue to execute our disciplined growth strategy…” – Louis‑Pierre Gignac, President & CEO
Read the original news release →

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Production / Operations May 13, 2026 · 18:03

G Mining Posts Record Margins as Gold-Fueled Cash Engines Rev Up for Oko West

Earnings