G Mining Ventures (TSX: GMIN) has officially reached nameplate capacity at their flagship Tocantinzinho gold mine in Brazil. The company this morning reported that the processing plant has operated at an average of 12,890 tonnes per day over the last month.
The company at the same time reported their second quarter production results, the operation producing 42,587 ounces of gold, which represents a 20% improvement over first quarter production numbers of 35,578 ounces. Recoveries were said to have improved from 87.7% to 90.3% on a quarter over quarter basis.
Guidance for 2025 was reaffirmed, although production was noted to be slightly behind, with 42% of guidance produced in the first half of the year, versus the planned 44%. Guidance is currently calling for between 175,000 and 200,000 ounces of production this year.
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Despite the improvements in operating capacity, G Mining noted that they encountered pre-mature wearing of liners on the SAG mill, resulting in frequent unscheduled downtime for replacement. A permanent fix was implemented in April to reduce downtime going forward.
G Mining Ventures last traded at $17.40 on the TSX.
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