GUY:TSX

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.
GUY:TSX

Expert Comments:

Jamie Spratt, Clarus Securities (2/24/17)
"Guyana Goldfields Inc.'s Q4/16 cash flow per share of $0.16 was ahead of our estimated $0.10 and consensus of $0.12 due to lower operating costs and lower cash taxes paid. . .gold recoveries averaged ~91% and head grades averaged 2.94 g/t."

Stuart McDougall, M Partners (2/24/17)
"Last night, Guyana Goldfields Inc. released Q4/16 financial results. . .cash flow per share came in at $0.16, essentially in line with our expectation for $0.15 (consensus was $0.12). . .at Dec. 31, the company had cash of $73.2M [and] working capital of $111.4M."

Jamie Spratt, Clarus Securities (2/6/17)
"The updated feasibility study for Guyana Goldfields Inc.'s Aurora project forecasts life-of-mine production of 220 Koz at an all-in sustaining cost of $747/oz at $1,200/oz gold. Overall, the study is in line with our expectation and continues to support Aurora as a long-life asset. . .the company provides a rare combination of a high-margin, long-life asset, gold price optionality, and mergers and acquisitions potential."

Jamie Spratt, Clarus Securities (1/10/17)
"Our thesis is that Guyana Goldfields Inc. provides a rare combination of a high margin, long life asset, gold price optionality and M&A potential. . .the stock trades at 1.05x P/NAV and 12.7x 2017E P/CF, ahead of peers trading at 0.95 x and 9.1x, respectively, and we believe the valuation largely reflects the positive features of the story. . .we have updated our model to reflect 2017 guidance which results in 10% higher production than our prior estimate, driving our target price higher to $6.25 per share (was $5.75)."

Stuart McDougall, M Partners (1/9/17)
"Guyana Goldfields Inc. released Q4/16 operational results, reporting production of 43,800 oz gold, beating our estimates by 14%. . .gross revenue also beat, coming in at US$54.8M on sales of 45,500 oz gold at an average realized price of US$1,204/oz."

Jamie Spratt, Clarus Securities (11/14/16)
"Guyana Goldfields Inc.'s Q3/16 results indicate continued progress with the ramp up of operations at Aurora. . .we expect the completion of a feasibility study for a plant expansion from the current ~5,000 tpd to 8,000 tpd by year end 2016. . .Our thesis is that GUY provides a rare combination of a high margin, long-life asset, gold price optionality and M&A potential."

More Expert Comments

Experts Following This Company

Don Blyth, Analyst – Paradigm Capital
Andrew Breichmanas, Analyst Equity Research Mining – BMO Capital Markets
Stuart McDougall, VP Research Analyst – Jennings Capital
Andrew Mikitchook, Analyst – M Partners
Phil Russo, Research Associate – Raymond James
Jamie Spratt, Analyst – Clarus Securities

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