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 (11/17/15)
"Guyana Goldfields Inc. released Q3/15 financial results and provided an update on ramp-up progress at its Aurora gold project in Guyana. . .the ramp up of mining and processing operations at Aurora continues to make good progress. . .we believe the key features of the project—an open-pit grade of 2.74 g/t, low costs (all-in sustaining costs of approximately CA$850/oz) and 200-plus Koz/year production profile—will see Aurora take its place among the premier producing assets in the gold space."

"Another name that we like is Guyana Goldfields Inc. It also has a relatively long life of mine. It's based in Guyana, which doesn't scare us off, despite the hapless picture painted by "The Gold Rush" series on National Geographic about an unprofessional crew working in the area. Guyana Goldfields will be in commercial production by the beginning of next year, producing 20 Koz. Guyana has a great cost structure and good life of mine that can be extended by going underground. I think it has the potential to create a lot of shareholder value." read more >

Jamie Spratt, Clarus Securities (10/23/15)
"This week we toured Guyana Goldfields Inc.'s 3.5 Moz Aurora project in Guyana. . .with full mechanical completion of the plant and hard rock circuit now achieved, the company remains focused on accessing hard rock in the Rory's Knoll pit and the ramp-up of mining throughput toward nameplate capacity of 5 Ktpd. We maintain a Buy rating and target price of $4.25/share."

Sam Crittenden, RBC Capital Markets (10/21/15)
"Guyana Goldfields Inc. remains a preferred name, as a successful ramp-up would provide robust, low-cost production and a re-rating opportunity. The site tour gave us confidence in the ramp-up, as the mine and mill are performing well with soft rock. . .production for 2016 is expected to be 120–140 Koz, with the expansion taking annual production to over 200 Koz. . .we model below average cash costs of CA$530/oz for the first three years due to above average grades of nearly 3 g/t gold."

John Bridges, J.P. Morgan (9/24/15)
"Guyana Goldfields Inc. is on the verge of declaring commercial production at its Aurora gold project in Guyana. The project is expected to produce 3.3 Moz of total gold at sub-$500/oz cash costs over a 17-year mine life. Its 2016 gold production is expected to be 150 Koz at significantly lower costs from mining saprolite ore for the next 18 months, which requires no drilling or blasting."

"One up-and-coming producer is Guyana Goldfields Inc. It has just built a world-class mine based on high-grade deposits; it has an open-pit operation in Guyana and has poured its first gold. Guyana Goldfields has been doing better on the stock market. In fact, it's gone up more than 300% since its low last year, a move that is common as a development story transitions into production. The market likes it when a company succeeds. Hats off to management and the whole team. I have high expectations. If it keeps going, I could easily see another double on that stock, even without higher gold prices. My only concern is political uncertainty. There have been troubles with the local government, nothing mining related, just internal political fighting. There's also been some trouble with the psychotic regime in Venezuela, over the border. Anyone considering a company in Guyana needs to understand the political risk, but the project is doing great. The next catalyst will be reporting how much money is going to the bottom line. It should be announced after the next quarter at the latest. If I were new to the story and the political situation remained calm, I would want to own that stock before it reports its first net income." read more >

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
Michael Fowler, Senior Mining Analyst – Loewen, Ondaatje & McCutcheon
Jessica Fung, Research Analyst – BMO Capital Markets
Louis James, Analyst – Casey Research
Pav Jordan, Media Relations – BMO Capital Markets
Andrew Kaip, Analyst – BMO Capital Markets
Gwen Preston, Founder Resource Maven
Tony Robson, Managing Director and Co-Head for Global Mining Research – BMO Capital Markets
Jordan Roy-Byrne, Editor/CMT The Daily Gold
Phil Russo, Research Associate – Raymond James
Jamie Spratt, Analyst – Clarus Securities
Trevor Turnbull, Analyst – Scotia Capital

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.