Canadian mining firm Guyana Goldfields Inc produced 32,053 ounces of gold at its Aurora mine in Region Seven during the second quarter of this year and its optimism is high that the second half of the year will see better results.
“In its second ever quarter of commercial production, the company generated free cash flow of US$11.6 million and significantly reduced its remaining development cost liabilities as well as satisfying all debt principal and interest payments. With higher grade material expected to be mined and further optimization efforts expected to be realized in the upcoming quarter, the company is in an excellent position to deliver significant results for the second half of 2016,” Scott Caldwell, the President and Chief Executive Officer of the company said in a statement announcing second quarter results yesterday.
The company’s total gold production for this year stands at 73,334 ounces for the first two quarters, following production of 41,281 ounces in the first quarter.
