BRIEF-Guyana Goldfields announces C$110 million bought deal financing

Mon Jun 27, 2016 8:08am EDT
 
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June 27 (Reuters) - Guyana Goldfields Inc

* Guyana Goldfields Inc announces C$110 million bought deal financing

* Guyana Goldfields Inc says company estimates that gold production through June 30, 2016 will total approximately 75,000 ounces at its Aurora Mine

* Net proceeds of offering to be used to fund expansion of Aurora gold mine to increase capacity to 8,000 tonnes per day

* Guyana Goldfields Inc says company is increasing its 2016 production guidance to 140,000 to 160,000 ounces

* Says underwriters to buy on a bought deal basis by way of a short form prospectus, 10.7 million common shares from co

* Guyana Goldfields says underwriters to buy on bought deal basis by way of a short form prospectus, 1 million common shares from Patrick Sheridan, founder

* Guyana Goldfields Inc says entered into agreement with syndicate of underwriters led by BMO Capital Markets, Scotiabank and RBC Capital Markets

* All-In sustaining cost (AISC) guidance for 2016 has been increased from US$637 to US$687 per ounce to US$670 to US$720 per ounce Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)