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Canadian-owned Guyana Goldfield Inc. which started large scale operations last year isCanadian-owned Guyana Goldfields has announced over 41,000 ounces produced for the first quarter alone, with the company on track for its annual target.well on track for its annual target this year.Reporting on its first quarter production for 2016, the company which has operation at Aurora, Region Seven, said that gold production totaled 41,281 ounces.Its total overall gold production since September 2015, when it started operations, is 77,182 ounces.The performance sets the company well on its way to achieving its production target for 2016 of 130,000 to 150,000 ounces of gold.With Guyana targeting at least 550,000 ounces this year, Guyana Goldfield’s contribution would be seen as critical to the country’s performance.According to online news, at March 31st, the company made its second principal debt repayment of US$6.8 M towards its project loan facility of US$160 million.From October 1, 2015 to December 31, 2015, the company produced 35,723 ounces of gold, of which 28,NBA Jerseys China,850 ounces were sold at an average realized price of US$1,079 per ounce, generating approximately US$31.1 million in pre-tax revenue.During the month of December, the mill processed an average of 4,758 tonnes of ore per day,cheap jerseys from china, of which in excess of 50% of the ore processed was composed of hard rock, at an average head grade of 3.24 grams per tonne gold with recoveries averaging 90.4%.From October 1,Cheap NFL Jerseys China, 2015 to December 31, 2015, the company mined a total of 483,135 tonnes of ore grading 3.01 g/t Au and a total of 392,953 tonnes of ore was fed to the mill and the remaining tonnes of ore were stored in the stockpile located near the mill. In addition, 1,004,335 tonnes of waste had been mined.Guyana Goldfields Inc. is a Canadian company,Cheap NFL Jerseys, focused on the exploration and development of gold deposits in Guyana,Cheap Jerseys China, achieving first production in mid-2015. The 35,Cheap NFL Jerseys China,000 ounces by Aurora were critical to pushing Guyana’s final declaration over 451,000 ounces, or about 60,000 ounces above the annual target.Gold performance, despite low world prices, was a high point of the new administration’s performance last year, and would have come at a time when prices for the high-earning sugar and rice have also fallen to lows.Gold has climbed back to top of the foreign currency earning list after falling behind in 2013. There has continued to be high interest in gold mining in recent years with another foreign investor, Australian-owned Troy Resources,China Jerseys, also set to make a major contribution to the 550,000-ounce target.
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