G Mining–G2 Goldfields $2.2B deal: capex, synergies and schedule for mine planners
Reviewed by Joe Ashwell
First reported on MINING.com
30 Second Briefing
G Mining Ventures will acquire G2 Goldfields in a C$3 billion ($2.2 billion) all-share deal, consolidating the adjacent Oko West and Oko-Ghanie projects in Guyana into a single district-scale complex targeting more than 500,000 oz/y of gold over the life of mine. The combined 362 sq. km land package in the Guiana Shield holds 7 million oz measured and indicated at 2.28 g/t and 2.3 million oz inferred, with key zones open at depth and along strike. G Mining forecasts over C$1 billion in capex/opex synergies via shared infrastructure and mine sequencing, with first Oko West production still slated for H2 2027 and expanded output targeted by H1 2029.
Technical Brief
- Share exchange fixed at 0.212 G Mining shares per G2 share, valuing G2 at C$10.84.
- Transaction expected to close by 30 June 2026, subject to shareholder and regulatory approvals.
- G2 shareholders and insiders holding 37% have signed voting support; two‑thirds approval threshold applies.
- G2 owners also receive 100% of G3 SpinCo, seeded with C$45 million and non-core exploration assets.
- Contingent value right structure allows up to C$200 million extra consideration, linked to future resource growth.
- Post‑deal ownership split leaves existing G Mining shareholders with 80.1% and G2 shareholders with 19.9% of the combined company.
- Oko-Ghanie development is expected to leverage Oko West’s more advanced permitting status to compress schedule risk.
- Consolidation follows earlier Guiana Shield deals, including G Mining’s 2024 acquisition of Reunion Gold for Oko West.
Our Take
G Mining Ventures has already featured in our coverage as a beneficiary of La Mancha Resource Capital’s planned 19.9% equity stake to support the Tocantinzinho mine in Brazil, which suggests it will have balance-sheet depth to absorb a C$3 billion all-share acquisition while still funding its existing build-out.
Both G Mining Ventures and G2 Goldfields have appeared in recent reporting on Guyana’s expanding extractives sector alongside ExxonMobil and Zijin Mining, indicating that consolidation around the Oko district is happening in parallel with large-scale oil and bauxite investment in the country rather than in isolation.
Jefferies, which is cited in related analysis on rising oil-linked operating costs for open-pit gold miners, is also a named adviser here, implying that energy-price risk will be a key sensitivity for the combined Oko West–Tocantinzinho portfolio as it targets first production in 2027.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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