 | |
| Company type | Public |
|---|---|
| TSX: GUY | |
| Industry | Mining |
| Fate | Acquired by Zijin Mining |
| Headquarters | Toronto, Ontario , Canada |
Key people | Patrick Sheridan Jr. (CEO 1996-2013) Scott Caldwell (2013-20) Alan Pangbourne (2020) |
| Products | Gold |
| Subsidiaries | Guygold (Barbados) Inc. Aurora Gold (Barbados) Inc. AGM Inc. (Guyana) |
| Website | guygold.com |
Guyana Goldfields was a Canadian company that owned and operated the Aurora gold mine in Guyana. Before being acquired by Zijin Mining in 2020, Guyana Goldfields was a publicly traded company with shares listed on the Toronto Stock Exchange and previously TSX Venture Exchange. Beginning in 1996 the company acquired exploration rights to the former Peters and Aurora mines with the objective of utilizing modern exploration technology to re-evaluate the potential gold reserves. Following positive exploratory results, the company received financing from the International Finance Corporation and other investors and conducted economic and technical feasibility studies. The Aurora gold mine began commercial production in 2015 and has produced approximately 125,000 to 160,000 ounces of gold per year from the mine since then. These lower than expected results and a revised technical study that significantly lowered the recoverable reserves estimates, led to the removal of the CEO and directors involved in making the investment decision and a class action lawsuit alleging misrepresentations in public disclosures.