G Mining Ventures reports strong 2025 results as Tocantinzinho delivers first full year of production

G Mining's Tocantinzinho coming online adds to global supply, but here's what matters for stackers: new mine production barely dents the supply deficit we're seeing. Central banks bought over 1,000 tonnes again last year while COMEX registered inventory sits near multi-year lows. Brazilian production is nice, but most of that gold flows to jewelry fabrication and industrial use. The physical market for retail stackers remains constrained. Mining companies are great for equity plays, but they don't solve the fundamental issue we're tracking. Physical premiums stay elevated because refined product allocation to retail channels hasn't improved. Stack what you can get.