|Bid||1.7500 x 0|
|Ask||1.7600 x 0|
|Day's Range||1.7450 - 1.7700|
|52 Week Range||0.2500 - 1.8000|
|Beta (5Y Monthly)||3.42|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.82|
TORONTO, July 8, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY.TO - News) (the "Company", "our", or "we") announced today that we have processed the last batch of ore from stockpile and will continue to recover gold in circuit inventory over the next several days. Gold production for the second quarter totaled 28,500 ounces, bringing total gold production for the first half of the year to 56,600 ounces. The loan balance of US$6.5 million is as a result of the first advance under the Zijin Facility, following our payment to Silvercorp Metals Inc. ("Silvercorp") of the C$9.0 termination fee on June 11, 2020 to terminate the Company's previous arrangement agreement with Silvercorp.
The purpose of the Meeting will be to vote on, among other things, an immediate value realisation transaction with Zijin Mining Group Co., Ltd. ("Zijin") that will provide shareholders with a significant premium for their Guyana Goldfields shares. The Meeting Materials have been filed under Guyana Goldfield's profile on SEDAR at www.sedar.com.
Shandong Gold Mining Co , one of China's biggest gold producers, said on Thursday it would buy Ghana-focused miner Cardinal Resources Ltd for around A$321 million ($221 million) in cash. Shandong Gold, which in April agreed to splash out C$230 million ($170 million) on Canada's TMAC Resources, said in a filing to the Shanghai Stock Exchange it had signed an agreement with Australia-listed Cardinal to pay A$0.60 per share and would acquire all the target's equity for AS$309 million. Its website says it is focused on the Namdini gold deposit in Ghana, which has 5.1 million ounces of proved and probable ore reserves, and has other exploration projects in the West African country.
Gran Colombia Gold Corp. (TSX:GCM) is very attractively valued and poised to soar as gold rallies higher making now the time to buy. The post Got $1,000? Buy This Colombian Gold Stock Today appeared first on The Motley Fool Canada.
Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (15,256.57, up 205.65 points)Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up nine cents, or 0.37 per cent, to $24.34 on 15.99 million shares.Air Canada (TSX:AC). Industrials. Up $1.55, or 8.68 per cent, to $19.40 on 14.38 million shares.HEXO Corp. (TSX:HEXO). Health care. Up eight cents, or 6.25 per cent, to $1.36 on 12.08 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Up six cents, or 0.32 per cent, to $18.78 on 10.7 million shares.Bombardier Inc. (TSX:BBD.B). Industrials. Up four cents, or 8.33 per cent, to 52 cents on 10.24 million shares.Guyana Goldfields Inc. (TSX:GUY). Basic Materials. Up three cents, or 1.73 per cent, to $1.76 on 8.4 million shares.Companies in the news:Roots Corp. (TSX:ROOT) . Up 10 cents, or 8.13 per cent, to $1.33. Roots Corp. reported a loss of $7.8 million in its latest quarter as the COVID-19 pandemic disrupted its supply chain in Asia and forced the temporary closure of its stores in North America. The clothing retailer says its loss amounted to 18 cents per share for the quarter ended May 2 compared with a loss of $9.8 million or 23 cents per share a year earlier. Analysts on average had expected a loss of 23 cents per share, according to financial markets data firm Refinitiv.This report by The Canadian Press was first published June 12, 2020.The Canadian Press
(Bloomberg) -- Chinese miners are buying up small Canadian gold producers as gold prices have rallied about 35% from the start of last year.Zijin Mining Group Co. Ltd. agreed to buy Guyana Goldfields Inc. for cash on Friday, with a deal valuation of about C$323 million. This follows the May announcement by Shandong Gold Mining Co. Ltd. to buy TMAC Resources Inc. for cash at an equity value of about $149 million.Spot gold prices and gold miners have outperformed the global equity markets this year amid Covid-19 uncertainties and unprecedented global stimulus. That follows an 18% gain last year on broader global growth fears, which had helped drive a series of deals in recent months.Zijin bought Guyana Goldfields after a hard fought battle with two other miners. The initial offer came from Silvercorp Metals Inc. on April 27 to buy Guyana for C$0.60 per share or a share exchange deal. However, within a couple of weeks, a rival bid from Gran Colombia Gold Corp. raised the offer to C$0.90 per share, subsequently prompting Silvercorp to raise its offer to C$1.30 per share. However, both offers were ultimately trumped by Zijin’s C$1.85 per share, more than three times the initial C$0.60 offer.Zijin Mining has been on a buying spree since announcing in November last year that it planned to seek out M&A opportunities in gold mining projects that are currently in production or will commence production soon. In December, it had also bought another Canadian miner, Continental Gold Inc., for C$1.37 billion in cash. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
TORONTO and FUJIAN, China, June 12, 2020 /CNW/ - Zijin Mining Group Co., Ltd (SSE:601899.SS - News) (SEHK:2899.HK - News) ("Zijin") and Guyana Goldfields Inc. (TSX:GUY.TO - News) ("Guyana Goldfields") are pleased to announce that they have entered into a binding arrangement agreement (the "Zijin Arrangement Agreement"), pursuant to which Zijin will acquire all of the outstanding common shares of Guyana Goldfields (each, a "Guyana Common Share") by way of a plan of arrangement (the "Zijin Arrangement"), for cash consideration of C$1.85 for each Guyana Common Share, valuing Guyana Goldfields at approximately C$323 million. Prior to entering into the Zijin Arrangement Agreement, Guyana Goldfields terminated its arrangement agreement with Silvercorp Metals Inc. ("Silvercorp") dated April 26, 2020, as amended on May 16, 2020 (the "Silvercorp Arrangement Agreement"), in accordance with its terms.
Guyana Goldfields Inc. is a Canadian based gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America. This news release contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable securities laws.
TORONTO, June 9, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY.TO - News) (the "Company", "our", or "we") announced today that mining of Phase 4 at Rory's Knoll open pit and satellite pits has now been completed. As per our previously announced plan, we will continue to process stockpiles until approximately the end of June and thereafter the mine site will go into care and maintenance. Guyana Goldfields Inc. is a Canadian based gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America.
The Board of Directors of the Company (the "Board") has unanimously determined, after consultation with its financial and legal advisors, that the New Offer constitutes a "Superior Proposal" in accordance with the terms of the arrangement agreement between the Company and Silvercorp Metals Inc. ("Silvercorp") dated April 26, 2020 , as amended on May 16, 2020 (the "Silvercorp Arrangement Agreement"). Pursuant to the terms of the New Offer, the Company's shareholders would receive cash consideration of C$1.85 for each Common Share, valuing Guyana Goldfields at approximately C$323 million .
TORONTO , May 28, 2020 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company", "we", "us", or "our") today filed financial results for the first quarter ended March 31 , 2020. The Company also provided corporate updates, including updates on its temporary care and maintenance plan and on its proposed arrangement transaction with Silvercorp Metals Inc. ("Silvercorp"). First quarter gold production of 28,100 ounces and 24,2001 ounces of gold sold from open pit at a cash cost (before royalty)2 of $1,084 per ounce of gold sold.
VANCOUVER, British Columbia and TORONTO, May 17, 2020 -- Silvercorp Metals Inc. (“Silvercorp”) (TSX/NYSE American: SVM) and Guyana Goldfields Inc. (TSX: GUY) (“Guyana.
Guyana Goldfields Rejects Unsolicited Gran Colombia Acquisition Proposal and Reaffirms Commitment to Transaction with Silvercorp Metals
TORONTO , May 11, 2020 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company", "we" or "our") acknowledges it has received an unsolicited proposal from Gran Colombia Gold Corp. ("Gran Colombia") to acquire all of the issued and outstanding common shares of the Company at a share exchange ratio of 0.142 Gran Colombia shares for each Guyana Goldfields share (the "Gran Colombia Proposal"). The Gran Colombia Proposal, which was announced today by Gran Colombia, is conditional upon the completion of Gran Colombia's proposed concurrent acquisition of Gold X Mining Corp. (TSXV: GLDX, OTCQX: SSPXF).
Gold X Mining Corp. (“Gold X”) (TSXV: GLDX, OTCQX: SSPXF) is pleased to announce that it has signed a definitive agreement (the “Arrangement Agreement“) under which it intends to complete a business combination (the “Gold X Transaction”) with Gran Colombia Gold Corp. (“Gran Colombia”) (TSX: GCM; OTCQX: TPRFF). Under the Gold X Transaction, Gran Colombia will acquire the remaining 81% of the issued and outstanding shares of Gold X that it does not already own at a share exchange ratio of 0.500 Gran Colombia shares for each Gold X share (the “Gold X Exchange Ratio”), implying a headline value of C$3.17 per share, representing a premium of 15% to the closing price on the TSX Venture Exchange on May 8, 2020, and a premium of 41% to the volume-weighted average price of Gold X shares on the TSX Venture Exchange over the 20 trading days ending on May 8, 2020.
Gran Colombia Gold Corp. (“Gran Colombia”) (TSX: GCM; OTCQX: TPRFF) is pleased to announce that it has signed a definitive agreement to complete a business combination with Gold X Mining Corp. (“Gold X”) (TSXV: GLDX, OTCQX: SSPXF) (the “Gold X Transaction”) and that it has submitted a proposal to Guyana Goldfields Inc. (“Guyana Goldfields”) (GUY.TO) to acquire all of its issued and outstanding common shares (the “Proposed Guyana Goldfields Transaction”; and together with the Gold X Transaction, the “Proposal”). The contemplated business combination between Gran Colombia and Gold X is conditional upon the successful concurrent acquisition of Guyana Goldfields, and the proposal to Guyana Goldfields is conditional on the concurrent acquisition of Gold X.
TORONTO, May 7, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY.TO - News) (the "Company", "we" or "our") today filed financial results for the fourth quarter and year-ended December 31, 2019. The Company also provided corporate updates, including updates on its proposed arrangement transaction with Silvercorp Metals Inc. ("Silvercorp") and the Company's outlook for 2020.
TORONTO , April 29, 2020 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") today provided an update with respect to (i) the filing of its annual financial statements and related management's discussion and analysis ("MD&A") for the year ended December 31, 2019 (the "Annual Financial Disclosure"), as well as its annual information form in respect of the year ended December 31, 2019 (collectively, the "Required Annual Filings"), and (ii) compliance with the delivery requirements of applicable securities laws relating to the Annual Financial Disclosure. The Company is providing this update in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the "Blanket Exemption Order"). The Company intends to make the Required Annual Filings by the deadline of May 14, 2020 for such filings under the Blanket Exemption Order.
Shares of precious metals miner Silvercorp Metals (NYSEMKT: SVMLF) were up around 10% an hour before the close on April 28. Silvercorp intends to buy Guyana Goldfields, a tiny Toronto Stock Exchange listed company, for around $75 million. Silvercorp will also provide Guyana a $15 million loan to fund its near-term exploration efforts while the deal is still pending.
The Transaction will create a diversified precious metals producer with two profitable underground silver mining operations in China and a gold mining operation in Guyana with a strong balance sheet to fund growth opportunities.
Guyana Goldfields Inc. Files Amended and Restated Q1 & Q3 2019 Management Discussion and Analysis
TORONTO , April 8, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY) (the " Company ") today filed an updated technical report for its 100% owned Aurora Gold Mine in Guyana , South America prepared ...
TORONTO, March 30, 2020 /CNW/ - Guyana Goldfields Inc. (TSX:GUY.TO - News) (the "Company") today announced in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements of the Ontario Securities Commission (the "Blanket Exemption Order"), which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posed by the COVID-19 pandemic, that it will be delaying the filing and delivery of certain of its continuous disclosure documents. The Company is relying on the Blanket Exemption Order in delaying (i) the filing of its annual financial statements and related management's discussion and analysis ("MD&A") for the year ended December 31, 2019 (the "Annual Financial Disclosure"), as well as its annual information form in respect of the year ended December 31, 2019 (collectively, the "Required Annual Filings"), and (ii) compliance with the delivery requirements of applicable securities laws relating to the Annual Financial Disclosure.
Guyana Goldfields Inc. Announces Updated Mineral Reserves and Resources Estimate and Life of Mine Plan
TORONTO , March 23, 2020 /CNW/ - Guyana Goldfields Inc. (GUY.TO) (the "Company") has become aware that a statement of claim was filed on March 18, 2020 with the Ontario Superior Court of Justice to commence a proposed class action lawsuit against the Company and its former President and Chief Executive Officer, Scott Caldwell . The representative plaintiff named in the statement of claim is seeking an unspecified amount of damages for certain alleged misrepresentations made by the Company in its public disclosure during the period from December 14, 2017 to October 30, 2019 . The Company intends to vigorously defend the claim.