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Financings

G Mining Ventures Secures Bank Credit Facility and Equipment Financing to Construct Oko West

By The Northwire Desk — AI Analysis Oct 06, 2025 · 06:30 GMIN · 29.47 G Mining Ventures Corp.
GMIN · Price

Executive Summary

  • G Mining Ventures Corp. secured a senior secured revolving credit facility of up to US$350 million, with an optional “accordion” increase of US$150 million six months after closing, potentially bringing total financing to US$537.5 million.
  • An equipment financing agreement with Komatsu Finance Chile provides up to US$37.5 million in notes for procurement of mining and construction equipment for the Oko West Gold Project in Guyana.
  • The company announced the appointment of Jamie Flegg as Vice President, Corporate Development, strengthening its leadership team ahead of a Final Investment Decision (FID) on Oko West later in October 2025.

Key Details

  • Revolving Credit Facility (RCF):
  • Senior secured facility up to US$350 million; accordion option for an additional US$150 million after six months, subject to lender approval.
  • Led by National Bank Capital Markets and Macquarie Bank, with participation from BMO, ING Capital LLC, RBC, Citibank, and CIBC.
  • Initial term up to 3 years, renewable annually for additional three‑year periods at lender’s discretion.
  • Pricing: SOFR + 0.10% credit spread adjustment; margin ranging 2.75%–3.75% based on net leverage ratio.

  • Use of proceeds: general corporate purposes, refinancing existing debt, Oko West project development, and working capital.

  • Equipment Financing (MLSA):

  • Master Loan and Security Agreement with Komatsu Finance Chile S.A. to finance mining & construction equipment.

  • Multiple equipment notes with aggregate principal not to exceed US$37.5 million.

  • Total Potential Financing Package: Up to US$537.5 million (US$350 M RCF + US$150 M accordion + US$37.5 M equipment loan).

  • Strategic Impact:

  • Provides non‑dilutive capital to advance Oko West, enabling the company to move toward a Final Investment Decision later in October 2025.

  • Enhances financial flexibility for ongoing operations at the Tocantinzinho Mine and other projects.

  • Leadership Addition: Jamie Flegg appointed Vice President, Corporate Development; brings 12+ years of mining capital‑markets experience, CFA designation, MBA, and prior senior roles at Sigma Lithium and Waterton Global Resource Management.

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 →

More from G Mining Ventures Corp.

Aug 12, 2026 · 20:37

G reports strong free cash flow and Oko development progress despite raising its 2026 cost guidance.

Earnings Jul 29, 2026 · 08:32

G closes G2 deal, consolidating the Oko district into a tier-one Guyana hub.

M&A / Property Jul 13, 2026 · 07:00

G confirms the July closing of its G2 acquisition, a transaction the market has already priced in.

M&A / Property Jul 09, 2026 · 07:59

G reports a 16% quarter-on-quarter rise in Q2 output, remaining on track for full-year guided production with a second-half grade uplift.

Production / Operations Jun 05, 2026 · 08:30

G’s ESG report confirms the Oko West project is on track for construction ahead of the G2 merger.

Production / Operations May 13, 2026 · 18:03

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

Earnings