G Mining Ventures secured commitments for an initial $387.5 million financing package, with the potential to be increased by an additional $150 million beginning six months after closing, subject to lender approval. This financing package, which could total up to $537.5 million, provides the corporation with the financial flexibility to advance the development and construction of its 100%-owned Oko West Gold Project in Guyana.
The financing package is anchored by an agreement with a syndicate of financial institutions for a revolving credit facility that allows the corporation to borrow up to $350 million, with an accordion feature for an additional $150 million available post-closing, subject to customary conditions. The syndicate is led by National Bank Capital Markets and Macquarie Bank as joint bookrunners and co-lead arrangers, with participation from Bank of Montreal, ING Capital, Royal Bank of Canada, Citibank and CIBC.
In addition, Komatsu Finance Chile, a subsidiary of global equipment company Komatsu, and GMIN Ventures Guyana, an indirect wholly owned subsidiary of GMIN, executed a master loan and security agreement (MLSA) to finance the procurement of mining and construction equipment for the development of the project. Under the terms of the MLSA, Komatsu Finance will provide financing through multiple equipment notes with a total principal amount not to exceed $37.5 million.
“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, vice president, finance and chief financial officer, said. “This entirely non-dilutive package increases financial capacity, provides additional flexibility, and reflects the confidence of National Bank, Macquarie, Komatsu Finance and the broader syndicate in our ability to deliver. We remain focused on disciplined capital allocation and advancing Oko West responsibly, on schedule, and within budget to generate meaningful value for all stakeholders.”
Following the receipt of the Oko West environmental permit from Guyana’s Environmental Protection Agency on Sept. 2, 2025, and with this financing package now in place, GMIN is positioned to make a final investment decision (FID) on the project later this month, which will outline the forecasted initial capital cost, investment incurred to date and remaining expenditures through to completion.
