|Bid||1.1100 x 0|
|Ask||1.1300 x 0|
|Day's Range||1.1100 - 1.1500|
|52 Week Range||0.8000 - 3.8500|
|Beta (3Y Monthly)||0.69|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 11, 2017 - May 12, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.69|
(Bloomberg) -- Guyana Goldfields Inc., a miner that has lost more than half its value in the past year, is exploring options including a potential sale of the business, according to people familiar with the matter.The Toronto-based company is working with advisers at Royal Bank of Canada and Maxit Capital, an independent financial adviser to mining companies, the people said, asking not to be identified as the matter is private. The deliberations are in early stages and may not result in a sale of the business, the people said.Representatives for Guyana Goldfields and Maxit didn’t immediately respond to an email and call seeking comment, while RBC declined to comment.The gold miner, with operations in Guyana, has faced pressure from investors after a sell-down in the stock saw the company lose more than $1 billion in value since June 2016. Investors, led by former chief executive officer Patrick Sheridan, said publicly at the beginning of the year that they were seeking an overhaul of the board, amid falling production and higher costs.In April, Guyana Goldfields reached a settlement with a group of dissident shareholders after a proxy fight and agreed to revamp the board and change the CEO.Guyana Goldfields slumped by almost half in late October after the company lowered its production guidance and raised costs for a second time last year. The first time it delivered similar bad news in 2018 was in mid-July, when its market value plummeted by more than a fifth.The company’s shares were down 5.7% at 10:35 a.m. Tuesday in Toronto, giving it a market value of about C$231 million ($175 million). That’s down from about C$1.6 billion in mid 2016. The volume of gold industry acquisitions has more that quadrupled this year compared with the same period in 2018 thanks to large acquisitions such as Barrick Gold Corp.’s purchase of Randgold Resources Ltd., according to data compiled by Bloomberg.(Updates with share movement in sixth paragraph.)To contact the reporters on this story: Dinesh Nair in London at firstname.lastname@example.org;Vinicy Chan in Hong Kong at email@example.comTo contact the editors responsible for this story: Aaron Kirchfeld at firstname.lastname@example.org, ;Luzi Ann Javier at email@example.com, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
TORONTO , July 30, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") announces that, effective at the close of business on July 31, 2019 , Scott Caldwell will step down as the Company's President and Chief Executive Officer and as a director of the Company. Mr. Caldwell joined the Company as a director in 2012 and has been President and CEO since 2013. Mr. Caldwell was instrumental in building the Company's Aurora mine on time and on budget.
Guyana Goldfields Inc. Announces Second Quarter 2019 Operating Results; on Track for Annual Guidance
TORONTO , July 3, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) ("the Company") announces a wildcat work stoppage occurred yesterday at the Aurora Mine ("Aurora") in Guyana , South America. A portion of the workforce employed by the Company's wholly owned subsidiary, AGM Inc. ("AGM"), has blocked delivery of ore to the mill. As a safety precaution, the Company has decided to temporarily suspend operations until a resolution is reached with the striking workers, and is in the process of evacuating all non-essential personnel from site, including the striking workers. The Company believes the stoppage was the result of a misunderstanding concerning the management and relationship between AGM and certain open pit mining contractors.
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TORONTO , May 2, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company" or "Guyana Goldfields") today announced that it has filed a Management Information Circular Supplement and a WHITE form of proxy (collectively, the "Supplemental Proxy Materials") in respect of the upcoming Annual and Special Meeting of the Company's shareholders (the "Meeting"). The Supplemental Proxy Materials, which can be found on SEDAR (www.sedar.com) and the Company's website (www.guygold.com), are being mailed to the Company's shareholders.
TORONTO , May 1, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") is pleased to announce the results of hole MKD 187 drilled into the central mineralized zone at the Mad Kiss satellite deposit at the Aurora Gold Mine ("Aurora"), located in Guyana , South America .
TORONTO , April 29, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") today announced that it has reached a settlement with a group of shareholders who had requisitioned a special meeting of the Company's shareholders, including Patrick Sheridan , the Company's former Executive Chair (the "Requisitioning Shareholders"). As part of the settlement, the Company will appoint two experienced mining executives, Alan Pangbourne and Allen Palmiere , to join the Board as independent directors, and two long-serving independent directors will step down.
TORONTO , April 23, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") today addressed false and misleading allegations and a threatened derivative action by Patrick Sheridan , who was terminated as the Company's Executive Chairman in July 2018 and is now leading a dissident proxy campaign against the Company and its Board of Directors (the "Board"). "Mr. Sheridan's allegations are plainly untrue and his threatened derivative action is entirely frivolous," said Mr. René Marion, Non-Executive Chairman.
Patrick Sheridan, one of the Concerned Shareholders of Guyana Goldfields (the “Concerned Shareholders”) holding no less than 5% of the outstanding shares of Guyana Goldfields Inc. (GUY.TO) (“Guyana Goldfields” or the "Company"), has sent a letter dated April 10, 2019 (the “Letter”) to the Company’s board of directors (the “Board”) urging them to commence a claim against CEO Scott Caldwell for a series of disturbing allegations of misconduct at the Company’s head office and the Aurora Gold Mine.
TORONTO , April 22, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company" or "Guyana Goldfields") today announced that it has filed a Letter to Shareholders together with its Management Information Circular and a GOLD form of proxy (collectively, the "Proxy Materials") in respect of the upcoming Annual and Special Meeting of the Company's shareholders (the "Meeting"). The Proxy Materials, which can be found on SEDAR (www.sedar.com) and the Company's website (www.guygold.com), are being mailed to the Company's shareholders.
TORONTO , April 17, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") today reported that it has received a new notice from its former Executive Chairman Patrick Sheridan , who was terminated from his executive position by the Board of Directors on July 30, 2018 . The notice informed the Company that Mr. Sheridan intends to nominate an additional, seventh dissident nominee to the slate of six dissident nominees named in the meeting requisition submitted by a group of dissident shareholders led by Mr. Sheridan (collectively, the "Sheridan Dissidents"). The Company is reviewing the notice to evaluate if it complies with its by-law regarding advance notice of director nominations.
Gold production of 36,600 ounces, on track to achieve the previously stated 2019 guidance range of 145,000 to 160,000 ounces. Issued updated Mineral Resource and Mineral Reserve estimates, and life of mine plan "LOM plan" on the Aurora Gold Mine. Continued its corporate restructuring in Guyana and at Head Office and significantly strengthened its Board and Senior Management.
TORONTO , April 4, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") today set the record straight on a number of false and misleading statements in a news release issued on March 29, 2019 by a group of dissident shareholders (collectively the "Sheridan Dissidents"). Patrick Sheridan , spokesperson for the Sheridan Dissidents, was terminated as Executive Chair of the Company on July 30, 2018 . A material portion of the reserves did not "disappear", as Mr. Sheridan claims.
Shareholders are right to wonder how much worse will things get? TORONTO , April 4, 2019 /CNW/ - Guyana Goldfields Inc. (GUY.TO) ("Guyana Goldfields" or the "Company") shareholders (the "Concerned Shareholders"), together owning not less than 5% of the issued and outstanding shares of the Company, are alerting fellow shareholders to the damning market reaction to the Company's release of its new life of mine plan and technical report.