G Mining Ventures Corp. (GMIN) has provided a Q1 2026 status update for its wholly-owned Oko West Gold Project in Guyana, confirming that construction is advancing on schedule and within budget. The company targets first gold pour in the second half of 2027 and commercial production in January 2028.
Key Project Milestones
Since development began in October 2025, GMIN has achieved significant progress across engineering, procurement, site infrastructure, and process plant development. The early works strategy has allowed the company to secure key contracts ahead of inflationary pressures, strengthening cost control and reducing schedule risk.
Safety and Workforce
Safety performance remains strong, with only one lost-time incident recorded, resulting in a Total Recordable Incident Frequency Rate (TRIFR) of 0.37. The on-site workforce has grown to 1,379 personnel, of which 82% are Guyanese, reflecting GMIN's commitment to local employment. Over 1.6 million hours have been worked to date.
Financial and Procurement Status
Overall project progress has reached 19.7% based on earned value. Approximately US$292 million has been spent (~30% of initial capital), with US$525 million committed (~54% of initial capital). The project remains on budget. Detailed engineering is about 80% complete, and procurement is approximately 80% complete, with long-lead equipment largely secured.
Infrastructure Developments
The Georgetown port facility investment has been finalized, providing a dedicated long-term logistics solution with priority handling. Camp capacity has increased to 1,058 beds to support ongoing workforce ramp-up, with full occupancy expected by November 2026.
Construction Progress
Construction is advancing across key work areas, including the process plant, power infrastructure, tailings storage facility, and site infrastructure. Recent developments include:
- Detailed excavation of the carbon-in-pulp (CIP) area completed
- Mass excavation for the primary crusher completed
- Ball mill foundations poured; rebar and formwork for SAG mill piers underway
- Major components scheduled for delivery in mid-2026; grinding mills expected operational by August 2027
- Tailings storage facility clearing activities 36% complete
- Mine pre-production activities advancing, including mining fleet assembly and commissioning
- Power plant generator deliveries expected throughout Q2-2026, approximately two months ahead of schedule; power plant operational by July 2027
- Barge landing caisson and ramp completed on schedule at end of March 2026
Louis-Pierre Gignac, President and CEO, commented: "We are very pleased with the rapid construction progress at Oko West, which is tracking well on-schedule for first gold pour in the second half of 2027 and on-budget. Our strategy of initiating development activities well ahead of final permit receipt has delivered meaningful value for shareholders."
