1. Company Overview (GUY)
Summary
TSX Ticker: GUY
Last Trade: C$8.50
P/NAV: 0.74x
52-week Range: C$6.32 – C$10.58
Market Cap: C$715mm
Resources: mm oz
Avg. Prod. (pa): 300,000 oz
CapEx: C$400mm open pit C$350mm underground
Canadian-based, exploration-stage company focused on development of gold deposits in Guiana Shield of South America which has similar geology to West Africa
Aurora project well advanced with Aranka and Arakaka properties in early development stage
Guyana: Mining friendly, democratic, heavy rainfall
Recent Capital Raising:
$17.05mm private placement in 2009 (units of one common share plus one half-share warrant with exercise price of $4)
$69.5mm equity offering in 2010 at $6.95/share
$19.2mm from exercise of warrants
Key Capital Requirements for Aurora:
Feasibility Study results due late Jan./Feb. 2012; expect to start construction in Q and begin production in 2014
M&I resources of 2.18mm oz at 3.34 g/t open pit and 3.52mm oz at g/t underground
Mineral Agreement & Mining License obtained
Initial capital costs of C$400mm, with a further C$350mm for underground development
Signed NDAs with potential buyers but also signaled interest to bring asset into production