Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canada-based gold producer with operations in Guyana, South America and is focused on the exploration, development, and production of gold deposits. The Company is focused on building a portfolio of high quality, low cost gold assets and owns 100% of the Aurora Gold Mine, a high-grade mine which started initial production in August 2015 and has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au). In addition, the Company holds advanced exploration projects and has been operating in Guyana continuously since 1996.

Expert Comments:

Jamie Spratt, Clarus Securities (4/6/16)
"Guyana Goldfields Inc.'s Q1/16 operating results were positive and indicate significant progress with the ramp-up of production at the 2.86 Moz Aurora mine. Production of 41 Koz beat our estimate of 30 Koz driven by higher throughput and higher head grades. . .we are increasing our target price to $5.75/share from $4.50 and we maintain our Buy rating."

Andrew Mikitchook, M Partners (4/6/16)
"In Q1/16 Guyana Goldfields Inc. produced 41,281 oz (sold 40,568 oz) at grades of 2.98 g/t, ahead of our estimate for 37,800 oz at grades of 2.78 g/t. Higher production was driven by higher-than-modeled grades and better throughput of 5,083 tpd versus our estimate of 4,622 tpd. . .overall, we would view the results positively as the company appears to be achieving a further extension of positive grade reconciliation."

Phil Russo, Raymond James (4/5/16)
"Consistent with interim updates, Guyana Goldfields Inc. reported strong Q1/16 production results as the Aurora gold mine continues to ramp up. With the ramp-up going well, we would expect the market to continue to rerate the company toward the high end of the producer peer group given the Aurora gold mine's low cost nature."

Andrew Mikitchook, M Partners (3/14/16)
"Guyana Goldfields Inc.'s Q4/15 was relatively in line with our estimates. . .we highlight that the company appears to remain well financed with a cash balance of $44M, including $27M of restricted cash, as of Feb. 25 to complete the ramp-up in 2016. . .we are maintaining our Buy rating and 12-month target price of CA$6.40/share."

"I've followed Guyana Goldfields Inc. for about 20 years and have always been impressed with CEO Pat Sheridan Jr. I watched him from the original discovery right through to putting the mine in operation." read more >

Andrew Mikitchook, M Partners (3/8/16)
"We are initiating coverage of Guyana Goldfields Inc. with a Buy rating and a 12-month target price of CA$6.40 per share; we expect the company to benefit from reratings over the next few quarters as the mine builds an operating track record and confirms unit operating costs. . .we expect that Guyana could be an acquisition target due to its scale of production, long mine life and strong FCF generation potential. . .Guyana is a new intermediate ~200,000oz/yr gold producer with an attractive mine plan with 16+ years of reserve life."

More Expert Comments

Experts Following This Company

Markus Bachmann, Fund Advisor – Craton Capital
John Bridges, Analyst – J.P. Morgan
Brent Cook, Analyst, Geologist Exploration Insights
Sam Crittenden, Research Analyst – RBC Capital Markets
Warren Irwin, President – Rosseau Asset Management
Louis James, Editor – Casey Research
Andrew Kaip, Analyst – BMO Capital Markets
Joe Mazumdar Exploration Insights
Andrew Mikitchook, Analyst – M Partners
Gwen Preston, Founder Resource Maven
Phil Russo, Research Associate – Raymond James
Jamie Spratt, Analyst – Clarus Securities
Trevor Turnbull, Analyst – Scotia Capital

The information provided above is from analysts, newsletters, the company and other contributors.

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