A SCARCE ASSET IN A TRUE MINING DISTRICT Annual General Shareholder’s Meeting May 1, 2018
FORWARD LOOKING STATEMENT This presentation of Guyana Goldfields Inc. (the "Company") contains other unanticipated difficulties or interruptions; the possibility of cost overrun or statements that constitute "forward-looking statements." Such forward-looking unanticipated expenses in the work program; the risk of environmental statements involve known and unknown risks, uncertainties and other factors contamination or damage resulting from the Company's operations; risks that may cause our actual results, performance or achievements, or associated with title to mineral properties; and other risks and uncertainties developments in our industry, to differ materially from the anticipated results, discussed appear elsewhere in the Company's documents filed from time to performance or achievements expressed or implied by such forward-looking time with the Toronto Stock Exchange and Canadian securities regulators. statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," These statements are based on a number of assumptions, including "aims," "plans," "anticipates," "believes," "intends," "estimates," "projects," assumptions regarding general market conditions, the availability of financing for "potential" and similar expressions, or that events or conditions "will," "would," proposed transactions and programs on reasonable terms, the cost of "may," "could" or "should" occur. Information inferred from the interpretation of exploration and development and the ability of outside service providers to drilling results and information concerning mineral resource and mineral reserve deliver services in a satisfactory and timely manner. Forward-looking statements estimates may also be deemed to be forward looking statements, as such are based on the beliefs, estimates and opinions of the Company's information constitutes a prediction of what might be found to be present when management on the date the statements are made. Except as expressly and if a project is actually developed. Forward-looking statements this document required by applicable securities laws, the Corporation undertakes no obligation include statements regarding: the Company's expectations regarding drilling to update these forward-looking statements in the event that management's and exploration activities on properties in which the Company has an interest; beliefs, estimates or opinions, or other factors, should change. and the Company's statements regarding estimates of reserves and resources on properties in which the Company has an interest. This presentation uses the terms "Inferred Resource", "Indicated Resource", “Measured Resource” and "Mineral Resource". The Company advises readers There can be no assurance that such statements will prove to be accurate. that although these terms are recognized and required by Canadian securities Actual results and future events could differ materially from those anticipated in regulations (under National Instrument 43-101 "Standards of Disclosure for such statements, and readers are cautioned not to place undue reliance on Mineral Projects"), the US Securities and Exchange Commission does not these forward-looking statements that speak only as of their respective dates. recognize these terms. Readers are cautioned not to assume that any part or all Important factors that could cause actual results to differ materially from the of the mineral deposits in these categories will ever be converted into reserves. Company's expectations include among others, risks related to fluctuations in In addition, "Inferred Resources" have a great amount of uncertainty as to their mineral prices; uncertainties related to raising sufficient financing to fund existence, and economic and legal feasibility. It cannot be assumed that any planned work in a timely manner and on acceptable terms; changes in planned part of an Indicated or Inferred Mineral Resource will ever be upgraded to a work resulting from weather, logistical, technical or other factors; the possibility higher category. Under Canadian rules, estimates of Inferred Mineral Resources that results of work will not fulfill expectations and realize the perceived potential may not form the basis of feasibility or pre-feasibility studies, or economic of the Company's properties; uncertainties involved in the estimation of studies except for a Preliminary Assessment as defined and permitted under resources and reserves; the possibility that required permits may not be National Instrument 43-101. Readers are cautioned not to assume that part or obtained on a timely manner or at all; the possibility that capital and operating all of an Inferred Resource exists, or is economically or legally mineable. The costs may be higher than currently estimated and may preclude commercial Mineral Resources stated in this presentation are not Mineral Reserves and, in development or render operations uneconomic; the possibility that the estimated the absence of a current feasibility study, do not demonstrate economic viability. recovery rates may not be achieved; risk of accidents, equipment breakdowns The determination of Mineral Reserves can be affected by various factors and labour disputes or including environmental, permitting, legal, title, taxation, socio-political, and marketing issues. 2 www.guygold.com
INVESTMENT HIGHLIGHTS High grade Au producer with +16 years reserve life with upside A Scarce Asset Simple metallurgy and mine plan, positive grade reconciliation to date Exceptional Free Cash Flow US$500M+ of expected free cash flow generated over the next 5 years at US$1,300/oz Generation Attractive 5-Year Annual gold production expected to grow from 160koz (2017) to +300koz (2022) Growth Profile Strong Balance Cash position of US$76M vs. debt of US$55M as at Mar 31, 2018 Sheet +200,000 acre land package in highly prospective & underexplored greenstone belt District Potential Targeting open pit exploration targets within a 30km radius from Aurora Mill Focus on Iroma, Wynamu and Arangoy targets 3 www.guygold.com
SITE LAYOUT: Aurora Gold Mine Aleck Hill North Aleck Hill Mad Kiss Walcott Hill Rory’s Knoll 4 www.guygold.com
Aurora is a High Grade Gold Mine Gold Equivalent Grade (g/t Au Eq.) 2.9 2.9 2.7 1.7 1.4 1.3 1.3 1.0 1.0 0.9 0.9 0.8 0.7 0.7 0.6 0.4 Guyana Torex SEMAFO Alacer OceanaGold IAMGOLD Alamos B2Gold Detour Eldorado SSR Mining New Gold Kinross Yamana Tahoe Centerra Source: Company filings Note: Gold equivalent grade shown for total reserves and resources (precious metals only). 5 www.guygold.com
Aurora is a Low All-In Sustaining Cost Mine All-in Sustaining Cash Cost (US$/oz) $1,196 Guyana 2018 Guidance US$830 - US$880/oz $1,054 $1,062 $1,063 $1,037 $1,009 $991 $976 $951 $931 $932 $851 $836 $839 $795 $788 $774 Guyana B2Gold Torex Centerra SEMAFO Alamos Yamana OceanaGold Kinross Tahoe Primero New Gold Alacer Eldorado IAMGold Detour SSR Mining Source: BMO Capital Markets Equity Research, company filings, street research Note: AISC shown as BMO Capital Markets Equity Research at street consensus pricing. 6 www.guygold.com
Year in Review: Demonstrating Operational Excellence • Achieved 2017 Production Guidance • Produced 160,500 ounces of gold at operating cash costs¹ of US$556/oz (Guidance of 160‐180koz and operating cash costs¹ of US$500‐550/oz) • Record quarter in Q4’17 producing 48,900 ounces of gold • Improved Financial Strength • Materially reduced debt from US$80M to US$60M in 2017 • Strong cash balance at Dec 31, 2017 of US$75M despite capital expansion investments throughout 2017 to benefit operations in 2018 • Strong Health & Safety Track Record • Over 4+ million man hours without a lost time incident in 2017 • Delivered Attractive Optimized Life of Mine Plan (Feb 20, 2018) • Increased mineral reserves by 12% after net depletion of 2017 operations • Improved Post tax NPV5% by US$77M to US$898M (from US$821M) • Improved average annual gold production of 270koz (from 242koz) over the next five years at an average operating cash cost¹ of US$523 per ounce (including royalties) • Continued Organic Growth Strategy • Completed Phase 1 mill expansion increasing throughput from 5,600 tpd to 6,600 tpd on‐time and under‐budget (Mar 30, 2018) • Ramp up of exploration activities and completed first‐ever drill programs at Iroma and Wynamu targets (1) This is a non-IFRS measure. Refer to non-IFRS Performance Measures section in the latest MD&A 7 www.guygold.com
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