…sold Aurora Gold Mine in 2020, Oko project in 2026
(Kaieteur News) – The management team involved in the discoveries of two major Guyana gold assets that were later sold at a combined US$2.4 billion is currently negotiating for additional mining claims in Guyana.
G3 Goldfields Inc., was formed as a spin-out of G2 Goldfields Inc.’s remaining properties after its acquisition by fellow Canadian firm G Mining Ventures Corp. (GMIN) in July.
With over 30 years of in-country experience, G3’s team is responsible for the discovery of over 11 million ounces of gold to date, which includes the Aurora Gold Mine that was acquired by AGM Inc. a subsidiary of Zijin Mining Group Co. Ltd., a Chinese state-owned mining giant in August 2020 and the Oko-Ghanie project that was acquired by GMIN this year.
The team’s past gold assets discoveries in Guyana that were later sold for a total US$2.4 billion
AGM Inc. acquired the Aurora Gold Mine from Canadian-owned Guyana Goldfields Inc. for US$238 million. The mine is located in Region Seven (Cuyuni-Mazaruni) and holds estimated reserves of close to 184 tonnes of gold, or approximately six million ounces of gold. The Aurora Gold Mine is currently the only large-scale gold project in Guyana that is producing. Just recently, Zijin reported that revenue for the first half of 2026 from its Guyana project reached US$334 million.
Meanwhile, GMIN acquired the Oko-Ghanie project this year, through a US$2.2 billion (C$3 billion) transaction, which brought together G2’s Oko-Ghanie project and GMIN’s fully permitted and financed Oko West project.
The consolidation is intended to create a major gold mining project in Region Seven (Cuyuni-Mazaruni), with G3 Goldfields retaining G2’s remaining properties not included in the acquisition.
G2 Goldfields had said the Oko-Ghanie project is expected to produce an average of 281,000 ounces of gold annually during its peak production years, with total production of approximately 3.2 million ounces over the life of the mine.
Now that the acquisition is completed, GMIN had disclosed that it will launch an integration programme to advance and integrate G2’s Oko-Ghanie project as the company pushes ahead with its Oko West project which first gold pour is targeted for the second half of 2027 and commercial production expected in early 2028.
According to G3, management spent approximately C$85 million to create more than C$3 billion in equity value in G2 Goldfields between 2019 and 2026.
With a proven legacy of discoveries and mine development, G3’s team said it is negotiating for additional land claims within the Oko-Aremu district, where it holds multiple exploration targets and claims containing the historical Peter’s Mine.
With more than three decades in-country experience, G3 said its team possesses the “boots on the ground” operating experience to be able to acquire and advance projects quickly. “The G3 team is laser focused on making the next major gold discovery in Guyana,” the company said, underscoring that it intends to build on that track record through further exploration and discovery in Guyana.
“G3 holds multiple drill-ready targets in the prolific Oko-Aremu gold belt and the active Puruni gold district, representing one of the most compelling early-stage exploration opportunities with exceptional discovery potential in the Guiana Shield. G3’s strategic land package is located immediately adjacent to two major high-grade gold discoveries totaling over 9 Moz Au,” the company added.
Source: Kaieteur News
