La Mancha Resource Capital has become the largest shareholder in G Mining Ventures, following a C$427 million ($313 million) share purchase that increases its stake from 16.7% to 19.9%. The private equity firm, based in Luxembourg, will acquire 9.3 million shares at C$45.89 each, as announced on Monday.
G Mining Ventures, which operates the Tocantinzinho mine in Brazil, anticipates producing 500,000 ounces of gold annually by 2028, and 160,000 to 190,000 ounces in 2023. The Oko West project in Guyana is projected to yield around 350,000 ounces per year starting in late 2027, contributing to the estimated post-tax net present value of $2.2 billion.
Despite La Mancha’s investment, G Mining shares dropped 5% to C$49.60 amid broader market fluctuations. G Mining currently holds a market capitalization of C$11.5 billion.
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