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Projects

News Releases

  • Aug 22, 2016  Guyana Goldfields Inc. Announces Closing of Over-A…   read more…
  • Aug 18, 2016  Guyana Goldfields Inc. Announces Exercise of Over-…   read more…
  • Aug 11, 2016  Guyana Goldfields Inc. Reports Second Quarter 2016…   read more…

Aurora Gold Mine

Overview

Guyana Goldfields Inc. is an emerging gold producer with the onset of its Aurora Gold Mine which achieved first gold pour in August 2015. The mine plan for the Aurora Gold Mine is designed to produce 2.86 million ounces of gold, averaging 188,000 ounces per year, over an initial 16 year mine life. Average annual gold production from years 2017 - 2028 is 200,000 ounces per year. The Aurora Gold Project has total proven and probable reserves of 3,042koz of gold (5,077kt at 3.09 g/t Au of proven reserves and 27,132kt at 2.91 g/t Au of probable reserves). The project has a total gold resource of 6,530koz in the measured and indicated categories (62,560kt at 3.25 g/t Au) as well as an additional 1,810koz in the inferred category (16,890kt at 3.33 g/t Au).

Mine Plan

Gold Price Base CaseUS$1,000/oz
Mine Life16 years
Average Mill Throughput (Initial/Extended)5,000 tpd / 6,040 tpd
Mine Depth-770mbsl
Strip Ratio (waste:ore)6.8:1
Average Gold Grade2.94 g/t
Gold Recovery97% (saprolite); 94.4% (fresh rock)
Total Gold Production2,865,726 oz
Average Operating Cash Cost (w/Royalty)US$564/oz
Pre-Tax Net Present ValueUS$672 M
After-Tax NPVUS$568 M
Net RevenueUS$2.7B
Net Operating IncomeUS$1.2B

Projected Operating Costs

Open pit cost per tonne$2.45
Open Pit cost per tonne to the mill$19.23
Underground cost per tonne to the mill$29.85
Processing cost per tonne$12.86
General & Admin cost per tonne$8.29

For further details, please refer to the press release dated January 18, 2016 and the report entitled "AGM Inc. Aurora Gold Project, Updated Feasibility Study" dated January 18, 2016 available on SEDAR at www.sedar.com.