G Mining Ventures to acquire G2 Goldfields in $3 billion Guyana consolidation deal

G Mining Ventures has agreed to acquire G2 Goldfields in a transaction valued at approximately C$3.0 billion, combining adjacent gold projects in Guyana. The merger creates a district-scale hub with potential to produce over 500,000 ounces annually, unlocking an estimated C$1 billion in synergies by sharing infrastructure and permitting.

G Mining Ventures has entered into a definitive agreement to acquire all outstanding shares of G2 Goldfields, consolidating two adjacent gold projects in Guyana, according to an official announcement. The transaction combines GMIN's fully permitted Oko West Project with G2's Oko-Ghanie Project, creating a large-scale gold mining hub with combined Measured & Indicated Mineral Resources of 7.0 million ounces and Inferred Resources of 2.3 million ounces.

Under the agreement, G2 shareholders will receive 0.212 GMIN common shares per G2 share, implying an offer price of C$10.84 per G2 share, representing a 72% premium based on 30-day volume-weighted average prices. The fully diluted equity value of the transaction is approximately C$3.0 billion. Upon completion, GMIN and G2 shareholders will own approximately 80.1% and 19.9% of GMIN respectively. G2 shareholders will also receive shares in a newly created gold explorer, G3 SpinCo, funded with C$45 million in cash and a contingent value right of up to US$200 million based on resource establishment.

This development matters for the gold mining sector, where district-scale consolidation in emerging jurisdictions can unlock significant value through shared infrastructure. The combined operation is expected to generate over C$1 billion in quantifiable synergies, including approximately C$850 million in capital cost savings by avoiding a standalone mill and tailings facility for Oko-Ghanie, and C$275 million in operating cost savings over life of mine.

For the mining industry, the transaction creates a Tier-1 asset with potential life-of-mine average production exceeding 500,000 ounces annually, ranking among the highest-producing gold mines globally. Stakeholders including contractors, equipment suppliers, and local communities stand to benefit from expanded operations. The combined land package expands GMIN's Guyana footprint to over 362 km² within a 20 km radius of Oko West, with first gold production from Oko West still targeted for second half of 2027.