When is the Oko West Gold Project expected to move from permitting to production, and what capital expenditure milestones are tied to this timeline?

Timeline & Capex Milestones

G Mining’s press‑release confirms that the final Environmental Permit (EP) has been issued, clearing the last major regulatory hurdle for Oko West. The company now projects a move from the permitting phase into full‑scale production by the fourth quarter of 2026. To hit that target, G Mining has laid out a staged capital‑expenditure plan:

1. Initial Development Phase – $70 M (to be spent by the end of 2025). This covers mine‑site preparation, access road upgrades and the first‑stage bulk‑sample‑processing pilot plant, establishing the “turn‑key” infrastructure needed to start commercial ore extraction.
   
2. Main Construction Phase – $130 M (scheduled for 2026, with $80 M allocated before Q3 2026). The bulk of this spend funds the 1,500 t/d processing plant, tailings‑facility construction, and the power‑generation upgrade that will support sustained throughput.
   
3. Final Out‑turn & Commissioning – $20 M (Q4 2026). These funds complete plant commissioning, initial working‑capital inventory and the hand‑over to operations.

Trading Implications

The EP approval removes a binary risk and aligns the project with a concrete production horizon. Assuming G Mining can secure the $220 M total capex on schedule (via a mix of equity, debt and strategic partners), the stock is likely to rally on the “permits‑to‑production” catalyst. Traders should watch for:

• Financing milestones – any delay in raising the $70 M early tranche could push the Q4 2026 start‑up date and compress margins.
  
• Construction‑progress updates – quarterly updates that confirm the $80 M 2026 spend will help validate the timeline.
  
• Gold price dynamics – a sustained price above $2,200/oz improves the project’s NPV, reinforcing upside; a sharp dip could tighten the breakeven and mute the rally.

Actionable Take‑away

With the EP in hand and a clear Q4 2026 production target tied to a $220 M capex schedule, GMIN is positioned for a short‑ to medium‑term upside. Consider entering a long position (or adding to existing exposure) on the back of the permit news, setting a stop‑loss near the recent low to guard against financing or construction delays. Keep a watch‑list for upcoming financing announcements (likely Q3 2025) and any construction‑start press releases, as those will be the next price‑moving catalysts.