Guyana Goldfields Inc (GGI) is forging ahead with preparations for a US$120M underground mining project and since the Canadian miner poured its first gold bar here in 2015 it has paid US$26.5m in royalties to the state.
“We are working on that (underground mining) study right now and will publish it at the end of the month. Previous (assessments) would have been four years from now; 2022 to start. I believe this is going to show us starting sooner than 2022,” Chief Executive Officer of GGI, Scott Caldwell, said yesterday at a media brunch the company held at the Marriott Hotel.
Further, he added, “We are working on the numbers right now but it would be sooner than 2022. I just don’t know the year as yet but it would be sooner than 2022. In less than a month we will know… the risk analysis was done and now is just a matter of when we start and we will know the answer to that in about a month.”
The head of the Canadian gold mining company said that GGI