G Mining Ventures (TSX:GMIN, OTCQX:GMINF) has unveiled definitive plans to acquire G2 Goldfields (TSXV:GTWO, OTCQX:GUYGF) in an estimated US$2.13 billion all-stock transaction. The strategic move, announced on Thursday, April 9, 2026, aims to consolidate two adjacent gold projects in Guyana, establishing what G Mining Ventures anticipates will become one of the largest and lowest-cost gold-mining hubs across the Americas.
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The agreement will merge G Mining’s fully permitted Oko West project with G2’s Oko-Ghanie project, creating a unified operational footprint. Under the terms of the transaction, G2 shareholders are slated to receive 0.212 G Mining common shares for each G2 share held. Upon the completion of the acquisition, G Mining shareholders will hold an 80.1 percent ownership stake in the combined entity, with G2 shareholders retaining the remaining 19.9 percent.
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Strategic Rationale and Operational Synergies
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Louis-Pierre Gignac, CEO of G Mining Ventures, articulated the company’s vision behind the acquisition. “Combining GMIN’s Oko West Project and G2’s Oko-Ghanie Project delivers on our stated vision to build and operate a large, long-life, Tier-1 asset in Guyana,” Gignac stated in the April 9 press release. He further emphasized the significant potential of the integrated operation, adding, “Once built, this mine has the potential to rank among the highest producing gold mines globally.”
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The consolidation of these adjacent properties is projected to yield substantial financial benefits, with G Mining Ventures expecting to unlock over US$710 million in combined capital and operating cost savings. A significant portion of these savings, approximately US$603.5 million, is anticipated from capital expenditures by eliminating the necessity to construct a distinct mill and tailings facility specifically for the Oko-Ghanie project. Furthermore, the integration of shared infrastructure and a streamlined mine sequencing strategy are forecast to generate roughly US$195.3 million in operating cost reductions over the projected life of the mine.
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Regulatory Streamlining and Project Outlook
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Beyond the direct financial savings, the transaction is also expected to simplify the regulatory pathway for G2’s asset. G Mining Ventures highlighted that integrating Oko-Ghanie with the already fully permitted Oko West project will streamline execution. This integration is expected to require only a reduced-scope environmental and social impact assessment, which will be submitted as an addendum to the existing Oko West permit, thereby accelerating the approval process.
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The company confirmed that the targeted timeline for first gold production at the Oko West project remains unchanged, with operations expected to commence in the second half of 2027. This consistent timeline underscores G Mining’s confidence in the seamless integration and execution capabilities post-acquisition.
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G3 SpinCo and Financial Strength
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As part of the comprehensive transaction, G2’s remaining exploratory assets located outside the immediate Oko footprint will be spun out into a newly established entity, referred to as “G3 SpinCo.” G2 shareholders will retain 100 percent ownership of G3, which will be capitalized with US$31.95 million in cash. Additionally, G3 will receive a contingent value right (CVR) that could provide up to US$200 million depending on future resource growth achieved at the acquired properties, offering potential upside for G2’s former shareholders.
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This acquisition follows a period of rapid expansion and strengthening financial performance for G Mining Ventures. Last month, the company reported a substantial 221 percent year-on-year increase in its proven and probable mineral reserves, reaching an impressive 6.52 million ounces of gold. This significant growth was largely attributed to the successful completion of the Oko West feasibility study.
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G Mining Ventures intends to self-fund the Guyana expansion, leveraging its robust balance sheet. The company reported US$288 million in cash and an undrawn US$350 million credit facility, providing ample liquidity for its strategic initiatives. This strong financial position is further bolstered by robust cash flows generated from its Tocantinzinho mine in Brazil, which achieved its first full year of commercial production in 2025, yielding 171,871 ounces of gold at strong margins. The consolidation of these Guyanese assets is poised to significantly enhance G Mining Ventures’ production profile and strategic standing in the global gold market.
