G Mining Ventures to acquire CentroGold project from BHP; shares rise

G Mining Ventures

09/09/2024 14:58

** Shares of Canada-based mining company G Mining Ventures
 GMIN.TO  rise 2.66% to $8.10
    ** Co signs agreement to acquire tenements in Gurupi gold
belt in Brazil from BHP Group  BHP.AX ; which includes the
CentroGold project
    ** As consideration, GMIN will grant BHP a 1.0% net smelter
return (NSR) royalty on the first 1 mln ounces of gold produced
at the tenements and a 1.5% NSR royalty on gold production
thereafter
    ** CentroGold is in the state of Maranhão, located in
northern Brazil, and comprises 47 tenements encompassing ~1,900
square kms
    ** Accretive transaction adds to GMIN's project pipeline
with no upfront cost
    ** Transaction is expected to close in 1Q25
    ** Up till last close, stock is up 42.20% YTD

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com))