G2 Goldfields Provides Comments on Recent Trading Activity and General Corporate Update
G2 Goldfields (OTCQX: GUYGF) has announced significant changes in its shareholder structure and provided updates on corporate developments. AngloGold Ashanti has sold its entire 14.95% stake in G2, with the shares being acquired by two large European investors - one taking approximately 9.5% (23 million shares) and another investor acquiring the remainder.
The company has terminated its previously announced G3 Goldfields spin-out agreement following the discovery of the New Oko Discovery zone, which is now considered a core asset. G2 plans to provide an updated spin-out strategy for non-core assets in August 2025, with completion targeted for Q4 2025.
Key upcoming catalysts include an updated Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA) both expected in Q4 2025. The company continues its exploration with five drill rigs operating throughout summer.
G2 Goldfields (OTCQX: GUYGF) ha annunciato importanti cambiamenti nella sua struttura azionaria e fornito aggiornamenti sugli sviluppi aziendali. AngloGold Ashanti ha venduto l'intera partecipazione del 14,95% in G2, con le azioni acquisite da due grandi investitori europei - uno che ha preso circa il 9,5% (23 milioni di azioni) e un altro investitore che ha acquisito la restante parte.
L'azienda ha terminato l'accordo precedentemente annunciato per lo spin-out di G3 Goldfields dopo la scoperta della zona New Oko Discovery, ora considerata un asset centrale. G2 prevede di fornire una strategia aggiornata per lo spin-out degli asset non core entro agosto 2025, con completamento previsto per il quarto trimestre 2025.
I principali catalizzatori in arrivo includono una stima aggiornata delle risorse minerarie (MRE) e una valutazione economica preliminare (PEA), entrambe attese nel quarto trimestre 2025. L'azienda continua l'esplorazione con cinque trivelle operative durante tutta l'estate.
G2 Goldfields (OTCQX: GUYGF) ha anunciado cambios significativos en su estructura accionaria y ha proporcionado actualizaciones sobre desarrollos corporativos. AngloGold Ashanti ha vendido su participación completa del 14,95% en G2, con las acciones adquiridas por dos grandes inversores europeos: uno tomó aproximadamente el 9,5% (23 millones de acciones) y otro inversor adquirió el resto.
La compañía ha terminado el acuerdo previamente anunciado para la escisión de G3 Goldfields tras el descubrimiento de la zona New Oko Discovery, que ahora se considera un activo principal. G2 planea proporcionar una estrategia actualizada para la escisión de activos no centrales en agosto de 2025, con finalización prevista para el cuarto trimestre de 2025.
Los principales catalizadores próximos incluyen una estimación actualizada de recursos minerales (MRE) y una evaluación económica preliminar (PEA), ambas esperadas en el cuarto trimestre de 2025. La compañía continúa su exploración con cinco equipos de perforación operando durante todo el verano.
G2 Goldfields (OTCQX: GUYGF)는 주주 구조에 중대한 변화를 발표하고 기업 발전 상황에 대한 업데이트를 제공했습니다. AngloGold Ashanti는 G2의 전체 14.95% 지분을 매각했으며, 이 지분은 두 명의 대형 유럽 투자자가 인수했습니다. 한 투자자는 약 9.5%(2,300만 주)를, 다른 투자자가 나머지 지분을 인수했습니다.
회사는 New Oko Discovery 구역 발견 후 이전에 발표한 G3 Goldfields 분사 계약을 종료했으며, 이 구역은 현재 핵심 자산으로 간주됩니다. G2는 2025년 8월에 비핵심 자산에 대한 업데이트된 분사 전략을 제공할 계획이며, 완료는 2025년 4분기를 목표로 하고 있습니다.
다가오는 주요 촉매제는 2025년 4분기에 예정된 업데이트된 광물 자원 추정(MRE)과 예비 경제성 평가(PEA)입니다. 회사는 여름 내내 5대의 시추 장비를 운영하며 탐사를 계속하고 있습니다.
G2 Goldfields (OTCQX : GUYGF) a annoncé des changements importants dans sa structure actionnariale et a fourni des mises à jour sur les développements corporatifs. AngloGold Ashanti a vendu sa participation entière de 14,95 % dans G2, les actions ayant été acquises par deux grands investisseurs européens – l'un prenant environ 9,5 % (23 millions d'actions) et un autre investisseur acquérant le reste.
La société a mis fin à son accord de spin-off précédemment annoncé pour G3 Goldfields suite à la découverte de la zone New Oko Discovery, désormais considérée comme un actif clé. G2 prévoit de fournir une stratégie de spin-off mise à jour pour les actifs non essentiels en août 2025, avec une finalisation prévue au quatrième trimestre 2025.
Les catalyseurs clés à venir incluent une estimation mise à jour des ressources minérales (MRE) et une évaluation économique préliminaire (PEA), toutes deux attendues au quatrième trimestre 2025. La société poursuit son exploration avec cinq rigs de forage en activité tout au long de l'été.
G2 Goldfields (OTCQX: GUYGF) hat bedeutende Veränderungen in seiner Aktionärsstruktur bekanntgegeben und Updates zu Unternehmensentwicklungen bereitgestellt. AngloGold Ashanti hat seinen gesamten 14,95%-Anteil an G2 verkauft, wobei die Aktien von zwei großen europäischen Investoren übernommen wurden – einer erwarb etwa 9,5% (23 Millionen Aktien), ein anderer Investor den Rest.
Das Unternehmen hat die zuvor angekündigte Ausgliederungsvereinbarung für G3 Goldfields nach der Entdeckung der New Oko Discovery-Zone beendet, die nun als Kernvermögen gilt. G2 plant, im August 2025 eine aktualisierte Ausgliederungsstrategie für nicht zum Kerngeschäft gehörende Vermögenswerte vorzulegen, mit Abschluss im vierten Quartal 2025.
Wichtige bevorstehende Katalysatoren sind eine aktualisierte Schätzung der Mineralressourcen (MRE) und eine vorläufige Wirtschaftlichkeitsbewertung (PEA), die beide im vierten Quartal 2025 erwartet werden. Das Unternehmen setzt seine Exploration mit fünf Bohrgeräten fort, die den ganzen Sommer über im Einsatz sind.
- Successful placement of AngloGold's 14.95% stake with two large European institutional investors
- Five drill rigs operating throughout summer for continued resource expansion
- New Oko Discovery showing promising results with over 60 diamond drill holes completed
- Multiple near-term catalysts including MRE update and PEA in Q4 2025
- Termination of previously announced G3 Goldfields spin-out agreement
- Delay in reorganization of non-core assets, pushed to Q4 2025
- Secures two new large European investors
- Updated Mineral Resource Estimate (MRE) anticipated in early Q4/25
- Preliminary Economic Assessment (PEA) anticipated in Q4/25
- Update on Proposed G3 Spin-Out
TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- G2 Goldfields Inc. (“G2” or the “Company”) (TSX: GTWO; OTCQX: GUYGF) would like to provide further details on recent trading activity in the Company’s common shares, as well as provide a general corporate update on near-term catalysts and deliverables.
Recent Trading Activity
On July 8, 2025, a total of over 36 million common shares of the Company (“G2 Shares”) traded on the Toronto Stock Exchange and the OTCQX, representing over
The G2 Shares previously held by Anglo were placed with two large European investors. A total of 23 million G2 Shares or approximately
Patrick Sheridan, G2 Executive Chairman, stated, “The ability to place the Anglo shares in such short notice and with such high-quality and very supportive investors is a testament to the quality of our team and assets. We will continue to expand the considerable gold resource at G2, focusing on our New Oko Discovery as well as our regional portfolio of gold exploration properties. We remain steadfast and excited about the future of this emerging +25km gold district which currently hosts several significant multi-million ounce resources.”
General Corporate Update
In addition, the Company would like to provide an update with respect to the proposed spin-out (the “Spin-Out”) of G3 Goldfields Inc. (“G3”). On March 18, 2025, G2 announced the discovery of a new zone of gold mineralization on certain properties to be transferred to G3 pursuant to the proposed Spin-Out (the “New Oko Discovery”). Subsequently, G2 extended the outside date for the completion of the proposed Spin-Out to June 30, 2025, in accordance with the terms of the arrangement agreement with G3 (the “Arrangement Agreement”). The New Oko Discovery has led to a management review of both “core” and “non-core” assets within the G2 property portfolio, and the New Oko Discovery as well as certain on-strike properties are currently considered by the Company to be “core” assets. The Company has terminated the Arrangement Agreement as it continues to evaluate the reorganization of its portfolio of properties to further optimize shareholder value. The Company anticipates providing an update to shareholders in August 2025 and completing any proposed spin-out of its non-core assets in Q4 2025, subject to shareholder and regulatory approvals.
Dan Noone, G2 CEO, stated, “This is a fortuitous situation for G2. Since the March discovery announcement, we have completed over sixty diamond drill holes in the New Oko Discovery and have also established further promising drill targets along this major structural break. We anticipate providing an updated MRE in early Q4 which will encompass all drilling completed up to September 2025. G2 also anticipates completing a PEA on the greater Oko resource, combining multiple open pits and underground mining plans. We expect to have five drill rigs operating all summer at the project and we’re excited to continue to grow our global resource base.”
About G2 Goldfields Inc.
G2 Goldfields finds and develops gold deposits in Guyana. The founders and principals of the Company have been directly responsible for the discovery of more than 10 million ounces of gold in the prolific and underexplored Guiana Shield. G2 continues this legacy of exploration excellence and success.
In March 2025, G2 announced an Updated Mineral Resource Estimate (“MRE”) for the Oko property in Guyana [see press release dated March 10, 2025]. Highlights of the Updated MRE include:
Total combined open pit and underground Resource for the Oko Main Zone (OMZ):
- 513,500 oz. Au – Inferred contained within 3,473,000 tonnes @ 4.60 g/t Au
- 808,000 oz. Au – Indicated contained within 3,147,000 tonnes @ 7.98 g/t Au
Total combined open pit and underground Resource for the Ghanie Zone:
- 1,024,500 oz. Au – Inferred contained within 12,062,000 tonnes @ 2.64 g/t Au
- 663,400 oz. Au – Indicated contained within 10,288,000 tonnes @ 2.01 g/t Au
Total open pit Resource for the Oko NW Zone:
- 97,200 oz. Au – Inferred contained within 4,976,000 tonnes @ 0.61 g/t Au
The MRE was prepared by Micon International Limited with an effective date of March 1, 2025. The Oko district has been a prolific alluvial goldfield since its initial discovery in the 1870s, and modern exploration techniques continue to reveal the considerable potential of the district.
All scientific and technical information in this news release has been reviewed and approved by Dan Noone (CEO of G2 Goldfields Inc.), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc. Geology, MBA) is a Fellow of the Australian Institute of Geoscientists.
Additional information about the Company is available on SEDAR+ (www.sedarplus.ca) and the Company's website (www.g2goldfields.com).
On behalf of the Board of G2 Goldfields Inc.
“Daniel Noone”
CEO & Director
For Further Information
Jacqueline Wagenaar, VP Investor Relations
Direct: +1.416.628.5904 x.1150
Email: j.wagenaar@g2goldfields.com
Forward-Looking Statements
This news release contains certain forward-looking statements, including, but not limited to, statements about the mineralization and mineral resource estimates in respect of the Company’s properties, an updated MRE and PEA and the anticipated timing thereof, any proposed spin-out of the Company’s non-core assets and the anticipated timing thereof. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “schedule”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including the risk factors set out in the annual information form of the Company for the year ended May 31, 2024. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
FAQ
Why did AngloGold Ashanti sell its stake in G2 Goldfields (GUYGF)?
What happened to G2 Goldfields' planned G3 spin-out?
When will G2 Goldfields (GUYGF) release its updated Mineral Resource Estimate?
What are the major upcoming catalysts for G2 Goldfields stock?
How many drill rigs does G2 Goldfields currently have operating?
