“TZ has achieved the significant milestone of the first gold pour, less than two years after the formal construction decision,” said Louis-Pierre Gignac, president and CEO, GMIN. “The team successfully constructed TZ on time and in line with the original budget while maintaining an outstanding safety record. This milestone is a testament to the strength of our self-perform approach and demonstrates our competitive advantage.”

Construction of TZ was launched in September 2022, following the completion of a definitive feasibility study (DFS) in February 2022. The DFS contemplates a 10.5-year mine life with an average gold production of 175,000 oz/y with an initial capital cost of $458 million. The DFS displayed robust economics at a $2,000/oz gold price assumption.

Since the start of hot commissioning on June 11, 2024, approximately 77,000 metric tons (mt) of ore have been processed through the TZ process plant, with all circuits operating as expected. At the end of June, approximately 2.6 million mt of ore have been stockpiled, with 2.1 million mt grading 0.80 g/mt of gold in the low-grade stockpile and 600,000 mt grading 1.31 g/mt gold in the high-grade stockpile.