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Investing.com - BMO Capital has reiterated an Outperform rating on G Mining Ventures Corp (GMIN:CN) with a price target of Cdn$23.00.
The firm’s decision comes after G Mining’s Tocantinzinho project achieved nameplate capacity by operating at 12,890 tonnes per day for 30 consecutive days, which contributed to 42,587 ounces of gold produced in the second quarter.
Since replacing the mill liner in April, the process plant has delivered 96% of design throughput, demonstrating operational improvements at the facility.
BMO Capital noted that deferred first-quarter capital expenditures that moved into the second quarter are expected to increase All-In Sustaining Costs (AISC) in the short term.
The investment firm identified G Mining Ventures as its top pick, suggesting shares should appreciate as the company continues to build its operational track record at Tocantinzinho while simultaneously fast-tracking construction at its Oko West project.
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