{"id":1147067,"date":"2019-10-31T13:18:38","date_gmt":"2019-10-31T19:18:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=1005791"},"modified":"2019-10-31T13:18:38","modified_gmt":"2019-10-31T19:18:38","slug":"guyana-goldfields-to-miss-guidance-stock-falls-to-lowest-since-2008","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1147067","title":{"rendered":"Guyana Goldfields to miss guidance, stock falls to lowest since 2008"},"content":{"rendered":"<p>Shares of Guyana Goldfields (TSX:GUY) fell to its lowest in more than ten years on Thursday, as the embattled Canadian miner released its <a rel=\"noreferrer noopener\" href=\"https:\/\/www.guygold.com\/News\/News-Details\/2019\/Guyana-Goldfields-Inc-Announces-Third-Quarter-2019-Financial-and-Operating-Results-Provides-Corporate-Update\/default.aspx\" >latest quarterly report<\/a> noting its Aurora mine would fail to meet its production guidance. The company added that a mine plan review is underway.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Guyana has been under pressure from investors, complaining that the company has lost significant value in the last three years due to the underperforming Aurora mine. The company and dissenting shareholders, led by founder\u00a0Patrick Sheridan, <a rel=\"noreferrer noopener\" aria-label=\"settled in April (opens in a new tab)\" href=\"https:\/\/www.mining.com\/guyana-goldfields-ceo-go-miner-settles-proxy-fight-founder\/\" >settled in April<\/a> with the appointment of\u00a0Allen Palmiere\u00a0as director and interim CEO.<\/p>\n<p>Operations at Aurora were <a rel=\"noreferrer noopener\" aria-label=\"temporarily suspended in July (opens in a new tab)\" href=\"https:\/\/www.mining.com\/guyana-goldfields-stops-work-at-controversial-aurora-mine\/\" >temporarily suspended in July<\/a> due to work stoppage. The controversial mine produced 22,100 oz gold, amounting to 96,000 oz produced in the first nine months of the year.  <\/p>\n<p>\u201cOur reviews have confirmed that we have a sound asset, including geological resources and a robust processing facility, however, the mine plan requires further review in order to maximise the value of Aurora,\u201d Palmiere stated in a media release.<\/p>\n<p>According to Palmiere, the company has\u00a0started a &#8220;comprehensive mine, production and cost savings review plan to make the necessary changes and improvements to increase productivity and profitability.&#8221; <\/p>\n<p>Full details of the review are expected in the first quarter of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A mine plan review is underway, with results expected in Q1 2010.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1147067"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1147067"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1147067\/revisions"}],"predecessor-version":[{"id":1147074,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1147067\/revisions\/1147074"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1147067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1147067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1147067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}