Guyana Goldfields Inc (GGI) yesterday announced its first sale of refined gold amounting to 1,400 ounces at an average price of US$1,179 per ounce from its Aurora Gold Mine in Region Seven.
This would have netted the company about US$1.6M. Stabroek News had reported on Sunday that gold production by the Canadian firm has narrowed the gap in gold declaration figures which was 317,036 ounces up to October 21 this year, slightly less than the 320, 133 ounces up to October last year. The Canadian firm celebrated its first gold pour last month and the company has said that it expects to produce between 30,000 ounces to 50,000 ounces of gold in 2015, depending on how quickly full ramp-up is achieved, and around 120,000 ounces to 140,000 ounces of gold in 2016.
“Plant ramp-up is progressing well and we expect to reach commercial production in the first quarter of 2016 and still hold an untouched US$52 million of overrun facility. The first gold sale for the company is a true testament to the quality of the construction team at