Mining Stock Daily G2 Goldfields Prepares for Oko's Resource Update and G3 Spin-out
Nov 17, 2025
Dan Noone, CEO of G2 Goldfields, shares insights from the Precious Metals Summit in Zurich. He discusses the company's promising exploration at the Oko Gold Project, including significant geological breakthroughs and successful drilling results. Dan also reveals plans for a new mineral resource update and a Preliminary Economic Assessment (PEA). Additionally, he dives into the details of the upcoming G3 spin-out, which encompasses 87,000 acres of valuable mining properties. The conversation reveals G2's bright outlook on market valuation and potential M&A opportunities in Guyana.
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Strong Cash Position Fuels Work
- G2 closed a US$50M private placement and now holds about US$62M for exploration and development.
- Dan Noone said this cash funds ongoing drilling and upcoming MRE and initial PEA due this month.
Major New Discovery Adds Ounces
- The bulk of new ounces come from a discovery 9 km north of the Oko main zone, added after the March MRE cutoff.
- Drilling success shows meaningful resource growth away from the known deposit area.
Discovery Costs Still Low
- Discovery cost per ounce has risen but remains low at about US$22 per discovered ounce.
- Dan Noone contrasted this with the initial first million ounces cost of US$5 per ounce.