GCM Mining Corp.
GCM.TO
Toronto Stock Exchange3.11
CAD
-0.08
- -
GCM Mining Corp.
GCM.TO
(Toronto Stock Exchange)
Recent
price
3.11
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- GCM Mining Corp. GCM Mining Corp. (TSX: GCM), formerly Gran Colombia Gold Corp., operates as a mid-tier gold producer focused on the exploration, development, and production of gold and silver deposits in Latin America; it manages high-grade underground mining operations including the Segovia Operations in Colombia's Antioquia region with a 3,000 tpd mill capacity producing gold doré and silver by-products, and the Marmato Complex in Caldas with current 1,000 tpd underground mining expanding to a 5,000 tpd mill targeting over 200,000 ounces of annual gold production from the Bulk Mining Zone; the company advances development projects such as the 100%-owned Toroparu gold-copper project in Guyana featuring 5.3 million ounces of measured and indicated gold resources and the 51%-owned Soto Norte project in Colombia's Santander region with 4.6 million ounces of proven and probable gold reserves. Founded in 2003 as Gran Colombia Gold and rebranded to GCM Mining in 2021, the company maintains headquarters in Toronto, Ontario, Canada, with primary operations in Colombia and Guyana, complemented by equity interests in exploration ventures like Aris Gold Corporation, Denarius Metals Corp., and Western Atlas Resources Inc. In September 2022, GCM Mining merged with Aris Gold Corporation in an all-share transaction to form Aris Mining Corporation, combining Segovia and Marmato assets while retaining GCM as the legacy ticker; recent advancements include commencement of a 50% Segovia expansion in November 2023 with $15 million capex following resource upgrades, and in June 2024 an increase in Soto Norte ownership to 51% via share issuance to Mubadala in lieu of $300 million cash, alongside positive preliminary economic assessment results for Toroparu indicating a 25.2% IRR and $1.8 billion after-tax NPV at $3,000 per ounce gold.