Rio Tinto names Shell’s Katie Jackson as new copper chief
Jackson, who is the current president of National Grid Ventures, an energy group, joins Rio Tinto on September 1.
Guyana Goldfields (TSX:GUY) was pushed deep into the red on Friday afternoon after releasing a feasibility study that came way short of expectations.
The company was trading down 19.5% at $6.76 in brisk late afternoon trade recovering somewhat from an earlier decline to $6.62.
Around a million more shares in the $500 million company changed hands on Friday compared to the daily average of 330,000.
Before the open the Toronto-based firm announced its Definitive Feasibility Study for its 100% owned Aurora Gold Project in Guyana. It’s the South American nation’s only large-scale licensed gold mine development project.
Guyana Goldfields said estimated initial capital costs for surface and open pit operations at Aurora was $525 million, with the underground portion funded from cash flow.
The company expects to enter production in late 2014.
Total gold production is expected to be 4.359 million ounces at a cash cost of $626/oz over a life of mine of 22 years.
Click here for more details from the feasibility study.
Comments
Finder
i know of a mining company in guyana just looking for serious investor; its called hinterlandminiggy.com