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Company News

BUZZ-Guyana Goldfields: Over 2-year low on cutting 2018 production

** Shares of gold miner plunge as much as 22 pct to C$3.77, lowest since Feb 2016

** Cuts 2018 annual production to 175,000-185,000 ounces of gold from 190,000-210,000 ounces and all-in sustaining

** Also increases cost guidance to $945-$995 per ounce from $830-$880 per ounce; Posts Q2 results says mining fell by ~2.5 mln tonnes

** GUY top pct loser on the S&P TSX materials index

** Spot gold price down 0.05 pct

** GUY shares down 28 pct YTD, including session’s losses (Reporting by Shreyashi Sanyal in Bengaluru)

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