GUY: Moving Down the Derisking Path

BRAD HUMPHREY, Raymond James (01/27/2011)
"Guyana Goldfields provided initial metallurgical test results from 3 composite samples from the Sulphur Rose zone on the Aranka property. . .We are encouraged by these early metallurgical results from Sulphur Rose. Highlights include: Sulphur Rose material is not refractory, similar metallurgy to that of Aurora, 30% of the gold is recovered via a conventional gravity circuit, overall recoveries (gravity plus cyanidation) came in at 91.9%. We recommend investors buy shares of Guyana Goldfields in order to benefit as it moves the Aurora project and Aranka property down the derisking path, while at the same time we also view the company as an attractive strategic takeover target given its current size, exploration potential, large and prospective land package and mining friendly jurisdiction."

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