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Corporate Brochure

Transcript of Guyana Gold

  • Endeavour Magazine spoke to Guyana Goldfields about the Aurora Gold project, an exciting initiative set to change the local industry forever.




    001 416 628 5936 WWW.GUYGOLD.COM


    Despite having located a potentially high earning location, the initial stages of development were not straight forward, as Scott Caldwell, CEO at Guyana Gold, told us,

    In the beginning, in order to gain access to its properties, the

    company would have to make use of the waterways by boat and

    sometimes portage due to the interior being very remote and the

    lack of existing roads because of the dense jungle rainforest. Any

    infrastructure we currently use has been specifically put in place

    over the years and the company has made a substantial investment

    into this. We currently use a 160km all-weather access road, which

    leads to our site from our Buckhall wharf facility located along the

    Essequibo River. The wharf facility is where all of our goods and

    equipment is barged to and thereafter transported down the access

    road to our site by trucks.

    That sounds like a lot of trouble, but for a company as single

    minded, focused and specialised as Guyana Goldfield, there is no

    option. The installation of vital infrastructures is seen as a small price

    to pay for successful gold mining. Speaking to Caldwell about the

    core interests and activities of the company, he explained that,


    Having obtained land claims within the country, Patrick Sheridan Jr. founded and firmly established Guyana Goldfield. Despite a number of artisanal miners, the region was largely unexplored when Sheridan Jr. had the foresight and business acumen to see an opportunity and act upon it.

    Macorp continues to provide the solutions necessary for the infrastructural and economic growth of Guyana.

    We are fuelled by our customers expectations; helping them to do more by providing total integrated solutions for their operation.

    One such customer is the Aurora Gold Project.

    Our relationship started in 2006 and continues to provide opportunities for Aurora to do more, for their customers, employees and Guyana.

    Macorp supported by Caterpillar will continue to strengthen our most significant competitive advantage, the relationships we have with our customers, relationships which makes us proud to say that we are


    Angel Amaris,Mining Major Account Manager.


    Guyana Goldfields Inc. is focused on the construction and

    development of the Aurora Gold Project, which is scheduled to

    reach commercial production by mid-2015. The mine plan for the

    Aurora Gold Project is designed to produce 3.29 million ounces of

    gold, averaging 194,000 ounces per year, over an initial 17-year

    mine life with an average grade of 2.74 g/t gold. The construction

    process is currently 40% complete (November 2014) with the mill

    delivery and installation occurring before year-end. The total capital

    cost to complete the construction of the Project is US$249 Million.

    The capital invested in the Aurora Project necessitates that it is

    as successful as forecast and that the initiative is completed at an

    agreeable pace.

    Gold production will be staged, with initial open pit production

    supplying ore to the mill at a rate of 5,000 tons per day, thereafter

    increasing to 10,000 tons per day with the onset of underground

    mining. The Company also continues to explore its large land

    package within the Aurora and Aranka districts.

    Taking the pressure of a large-scale project naturally in their

    stride, the team at Guyana Goldfields is already considering future

    exploration opportunities. With a tenacious and ambitious team at

    the helm, it can come as no surprise that Guyana Gold is happily

    weathering the storm that has hit the gold industry in recent years.

    With the price of gold having dropped sharply, many companies are

    now looking to scale back their own costs to increase margins and

    present appealing prospects to new investors.

    With the Aurora Project in full swing, a highly efficient and

    committed workforce supports Guyana Goldfields, but not at the

    cost of the local economy, as Caldwell explained,

    Guyana Goldfields has been dedicated to sourcing local

    personnel and achieving a workforce target rate of 90-95%

    Guyanese nationals. The Aurora Gold Project currently has over

    650 personnel employed at the site, with this rapidly increasing

    to 900 workers by the end of 2014. During the development and

    construction stage, Guyana Goldfields will employ approximately

    900 personnel dedicated to the build and construction of the Aurora

    Gold Project with this declining to approximately 450 personnel

    during mining operations, once production is achieved in mid-2015.

    Indirect benefits of employment include training programs, medical

    benefits, managerial, and professional leadership development skills

    training, as well as a stable and enjoyable working environment.

    Interested in preserving the local communities and regions that

    surround its operations, the company is actively exhibiting a level



    of social responsibility rarely witnessed in the currently turbulent

    economic market. Far from choosing the cheapest, easiest or most

    convenient staffing solutions, Guyana Goldfields has made a pledge

    to boost the local economy while simultaneously looking to meet

    its own targets. By offering training and skills development, those

    fortunate enough to be selected by the company, can expect

    a multitude of opportunities to

    progress their career,

    making for a

    m o t i v a t e d ,

    satisfied and

    determined workforce.

    Though not at the

    production stage yet, Guyana

    Gold is already giving thought

    to its customer service charter

    and Caldwell explains the aims

    of the organisation,

    Guyana Goldfields mission

    is to create a sustainable

    mining operation that delivers

    top quartile shareholder and

    stakeholder returns, while

    achieving industry leading

    performance in health,

    safety, stewardship of

    the environment, and

    social responsibility.

    Its this attention

    to ALL the details

    that makes Guyana

    Goldfields so different.

    Not content with producing

    impressive returns for investors,

    the company is also striving for

    eco and socio-responsibility of

    the highest standards, not to

    mention the continued safety of

    its employees. If more companies

    took their lead from Guyana,

    could the economic stability be

    just around the corner?

    With the Aurora Project

    moving forward at an impressive

    rate and looking set to begin

    commercial production in mid-

    2015, what levels of investment

    have brought the company to

    this point? Caldwell explains,

    The Company has been

    operating in Guyana since

    1996 on a full-time basis and

    has been working closely with



    Visit our showroom at226 Camp Street, North Cummingsburg, Georgetown, GUYANA SATel: (592) 225 7405, 225 7406 Fax: (592) 225 7166Email:

    A fire could destroy everything you own



  • Government authorities and local communities. This is to ensure

    transparency regarding the Companys activities and ensures that

    maximum community benefits are achieved. Since the Companys

    inception, approximately US$192 Million has been spent on

    historical exploration and development costs in order to bring the

    Aurora Gold Project to development stage. From this point, an

    additional US$249 Million will be spent on the Aurora Gold Project

    in order to achieve commercial gold production by mid-2015. The

    Aurora Gold Project will be Guyanas largest foreign investment

    in the countrys history and is projected to provide total revenues

    to the Government of approximately US$960 Million through

    corporate taxes and royalty payments over the life of the project. In

    addition to its large capital investment and direct financial revenues

    to the Government, the company is committed to sourcing local

    services, goods and equipment purchases, in order to support local

    businesses and communities.

    It takes a special type of company to breeze over the investments

    that have brought a project to fruition, in order to focus more on

    the benefits to local communities and residents of said project, but

    Guyana Gold is up there with inspirational organisations. In this case,

    all that glitters definitely IS gold.

    Guyana Goldfields mission is to create a sustainable mining operation that delivers top quartile shareholder and stakeholder returns, while achieving industry leading performance in health, safety, stewardship of the environment, and social responsibility.