July 2014 Investor Presentation
-
Upload
jwagenaar734 -
Category
Investor Relations
-
view
202 -
download
2
Transcript of July 2014 Investor Presentation
Investor PresentationJuly 2014
www.guygold.com 2
Forward Looking Statement
TSX : GUY
This presentation of Guyana Goldfields Inc. (the "Company") contains statements that constitute "forward‐looking statements." Such forward‐looking statementsinvolve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, todiffer materially from the anticipated results, performance or achievements expressed or implied by such forward‐looking statements. Forward looking statements arestatements that are not historical facts and are generally, but not always, identified by the words "expects," "aims," "plans," "anticipates," "believes," "intends,""estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred fromthe interpretation of drilling results and information concerning mineral resource and mineral reserve estimates may also be deemed to be forward looking statements,as such information constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward‐looking statements thisdocument includes are statements regarding: the Company's expectations regarding drilling and exploration activities on properties in which the Company has aninterest; and the Company's statements regarding estimates of reserves and resources on properties in which the Company has an interest. There can be no assurancethat such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers arecautioned not to place undue reliance on these forward‐looking statements that speak only as of their respective dates. Important factors that could cause actualresults to differ materially from the Company's expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raisingsufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or otherfactors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in theestimation of resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operatingcosts may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recoveryrates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of costoverrun or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company's operations; risks associatedwith title to mineral properties; and other risks and uncertainties discussed appear elsewhere in the Company's documents filed from time to time with the TorontoStock Exchange and Canadian securities regulators. These statements are based on a number of assumptions, including assumptions regarding general marketconditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in asatisfactory and timely manner. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company's management on the date thestatements are made. Except as expressly required by applicable securities laws, the Corporation undertakes no obligation to update these forward‐looking statementsin the event that management's beliefs, estimates or opinions, or other factors, should change.
This presentation uses the terms "Inferred Resource", "Indicated Resource", “Measured Resource” and "Mineral Resource". The Company advises readers thatalthough these terms are recognized and required by Canadian securities regulations (under National Instrument 43‐101 "Standards of Disclosure for MineralProjects"), the US Securities and Exchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineraldeposits in these categories will ever be converted into reserves. In addition, "Inferred Resources" have a great amount of uncertainty as to their existence, andeconomic and legal feasibility. It cannot be assumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. UnderCanadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre‐feasibility studies, or economic studies except for a PreliminaryAssessment as defined and permitted under National Instrument 43‐101. Readers are cautioned not to assume that part or all of an Inferred Resource exists, or iseconomically or legally mineable. The Mineral Resources stated in this presentation are not Mineral Reserves and, in the absence of a current feasibility study, do notdemonstrate economic viability. The determination of Mineral Reserves can be affected by various factors including environmental, permitting, legal, title, taxation,socio‐political, and marketing issues.
3
Corporate SnapshotSymbol: TSX: GUY
Basic Shares Issued 150,265,149
Options 8,575,000
Warrants 0
Total Shares Outstanding 158,840,149
52 week: Hi/Lo C$3.33 / C$1.32
Market Cap (at C$ 2.94) C$442 million
Cash Position (April 30, 2014) US$77 million
Debt * $0
Top 10 Shareholders Shares %
The Baupost Group 29.7M 19.8%
Franklin Resources (Templeton) 14.9M 9.9%
Van Eck 12.3M 8.2%
IFC (World Bank Group) 6.9M 4.6%
Jennison 6.6M 4.4%
Patrick Sheridan Jr. (Founder) 6.5M 4.3%
Sun Valley Gold 4.9M 3.2%
Sprott Asset Mgmt 3.4M 2.2%
Fidelity Investments 3.0M 2.0%
AMG Analysen 2.3M 1.5%
www.guygold.comTSX : GUY
* The Company announced on June 9, 2014 that it has secures credit approvals for a US$185 Million debt financing
4
What Sets Us Apart?
www.guygold.comTSX : GUY
Simple Metallurgy and Mine
Plan
Fully Funded & Permitted
Growth Potential
Robust economics and high grade
nature allows for continued variability in the open pit mine plan and protection
against a weak gold price.
Over 8M+ ozdiscovered to date of which
3M oz in reserves. Large land package for continued exploration.
High grade and low strip ratio allow for cash costs in the
lower quartile.
Lower Quartile Cash Costs
All capital and permitting in place for
Aurora Gold Project to reach
commercial production in mid‐2015.
Compact, simple design and excellent gold recoveries of 94%+ allow for smooth execution.
High Grade : Flexibility in Mine Plan
TSX : GUY www.guygold.com 5
Mining Friendly Jurisdiction & Government Aurora is fully licensed and permitted
Guyana is the only English speaking country in South America
British common law and secure tenure - part of the Commonwealth Democratically elected government under parliamentary system
Long history of significant gold production: Gold was the largest export of the country in 2013 with 458,000 oz
Mining License Received and Mineral Agreement Signed (Nov.18/11):
Royalty: 5%: Gold price $1,000/oz or less
8%: Gold price $1,000/oz +
Corporate income tax: 30% with no withholding tax on interest payments
6
Mine PlanFinancials @ 5% Discount Rate Jan 2013
43‐101 Feasibility StudyGold Price Base Case $1,300/ozMine Life 17 yrsCommercial Production Mid ‐ 2015Average Mill Throughput 5,000/10,000 tpdMine Depth 1,037m (970mbsl)Strip Ratio 4.7:1Average Gold Grade 2.74 g/tGold Recovery 97%(sap), 94.4%(fresh)Total Gold Production 3.29 M ozAvg Operating Cash Cost w/Royalty LOM $527/oz
Initial Capital Expenditure $249 M
Operating Costs Jan 2013 43‐101 Feasibility Study
Open Pit cost per tonne $2.42Mining cost per tonne to the mill $13.68Underground cost per tonne $19.28Processing cost per tonne $13.78G&A cost per tonne $3.83
www.guygold.comTSX : GUY
7
Capital Costs
www.guygold.comTSX : GUY
Capital Expenditures(Millions of US$)
Revised Capital Costs
to Commercial Production
Less Spent to Date
(01/11/13 to 04/30/14)
Remaining Capital Costs to
Commercial Production
EPC/M Lump Sum Fixed Price sub‐ total $137 ($18) $119
Plant Infrastructure Buildings 2 0 2
Plant Earthworks and Roads 6 (2) 4
Mine Infrastructure Buildings 1 0 1
Tailings Dam 6 (1) 5
Water Dams and Dykes 4 0 4
Site Services Water & Power 9 0 9
Logistics 8 (1) 7
GSJV – sub‐total $173 ($22) $151
Owner’s Cost Infrastructure 20 (10) 10
Owner’s Costs ‐ Operational Readiness 9 0 9
Owner’s Costs – Other 25 (1) 24
Owner’s G&A 22 (14) 8
Total Capital $249 ($47) $202
8
Robust Economics
Financials @ 5% Discount Rate Units$850/ozgold price¹
$1,000/ozgold price¹
$1,150/ozgold price¹
$1,300/oz gold price¹²
Average Operating Cash Cost (LOM) $/oz 423 423 423 423
Average Operating Cash Cost w/Royalty (LOM) $/oz 465 473 527 527
Pre‐Tax NPV $M 236 533 759 1,046
After‐Tax NPV $M 162 374 533 735
After‐Tax IRR % 12 20 25 31
Payback (After‐Tax) Years 6.8 5.6 5.0 4.4
2015 EBITDA (1st year of partial production) US$M 18 26 32 39
2016 EBITDA (1st year of full production) US$M 60 80 95 115
2021 EBITDA (Peak year) US$M 145 192 227 272
Cumulative Cash Flow³ US$M 506 975 1,330 1,784
1. Royalty rate of 5% at a price of gold of US$1,000 per ounce or less, royalty rate of 8% at a price of gold above US$1,000 per ounce2. Base Case3. Cumulative cash flow defined as revenue less operating costs less capital expenditures.
www.guygold.comTSX : GUY
9
Sensitivity Analysis
After‐Tax NPV ($M)
After‐Tax IRR (%)
Sensitivity Analysis
BaseCase
‐20% ‐10% 100% +10% +20% +30% +40%
Gold Price 735 384 560 735 910 1,085 1,260 1,435
Opex 735 857 796 735 674 614 553 492
Capex 735 831 783 735 689 640 593 545
Sensitivity Analysis
BaseCase
‐20% ‐10% 100% +10% +20% +30% +40%
Gold Price 31 21 26 31% 35 39 43 47
Opex 31 34 32 31% 29 28 26 24
Capex 31 39 35 31% 28 25 22 20
www.guygold.comTSX : GUY
www.guygold.com 10
Staged Approach Minimizes Capital
TSX : GUY
Capital Expenditures (US$M)Initial Capital (2013 – 2014)
Expansion Capital (2015 – 2017)
Sustaining Capital (2018 – 2031)
Total Capital $ 249 $ 153 $ 356Capital required up to Commercial Production
Funded from Cash Flow
Capex to Commercial Production $ 249
Less: Spent to date (01/11/13 – 04/30/14) $ (47)
Total Capital Required $ 202
Corporate G&A, Debt Fees, Capitalized operating costs, and Exploration to Commercial Production
$ 30
Working Capital Requirements $ 5Expected Total Capital Requirements to Commercial Production
$ 237
Cash on Hand (As of April 30, 2014) $ (77)
Debt Syndicate Funding (Tranche 1) $(160)
Cost Overrun Debt Facility (Tranche 2) $ (25)
Private Placement Proceeds (June 2014) $ (41)
Projected Net Overfunding US $ 66
Terms of Debt Facility:• Comprised of IFC, EDC, ING, CAT, Scotiabank• Up to 8 years,• Interest rate:3‐month LIBOR rate, which
based on current parameters would be 6.3% for the Tranche 1 facility and 6.8% for the Tranche 2 facility (if drawn).
www.guygold.com 11
Growth Potential – Resource Upside
TSX : GUY
Room to grow outside current mine plan:
Below Satellite pits (Aleck Hill, Mad Kiss and Walcott Hill): Indicated: 570,000 oz Au at 3.93 g/t Inferred: 290,000 oz Au at 4.11 g/t
Below ‐970m at Rory’s Knoll: Indicated: 1,120,000 oz Au at 3.87 g/t Inferred: 1,280,000 oz Au at 4.25 g/t
Excess mill and equipment capacity later in the minelife (year 2024 and beyond) allows for throughputflexibility
Portal
Decline
860,000 oz in Indicated & Inferred Categories
Current Mine Plan Depth of ‐970m 2.4M oz in Indicated & Inferred CategoriesResources Found Outside
Current Mine Plan
Rory’s KnollAleck Hill Walcott Hill Mad Kiss
TSX : GUY www.guygold.com 12
Strategic LOM Options
Contained ounces (M&I) 2.4 M
Recovered ounces 2.3 M
Grade 2.51 g/t
Strip Ratio 6.5 : 1
Mill Expansion in 2019(O/P Mining Fleet) $70 M
Production Years 1‐5 ~ 150 koz
Production Years 6‐10 ~ 250 koz
Production Years 11‐13 ~ 100 koz
After‐tax Cash Flow (5% DR) ~ $659 M
After‐tax IRR (5% DR) ~ 39%
Sustaining Capital $ 137 MNote: Assuming gold price of $1,300/oz; 30% Corporate Tax, and 8% Royalty
Open Pit Only Model*
Contained ounces (P&P) 3.5 M
Recovered ounces 3.3 M
Grade 2.74 g/t
Strip Ratio 4.7 : 1
Mill Expansion and U/G Development in 2018 $151 M
Production Years 1‐4 150 koz
Production Years 5‐10 285 koz
Production Years 11‐17 144 koz
After‐tax Cash Flow (5% DR) $800 M
After‐tax IRR (5% DR) 31%
Sustaining Capital $ 356 M
43‐101 Technical Report w/ Underground
* The Open Pit Only Model is an internal study and is not prepared to NI 43‐101 Standards. Scientific and technical information has been reviewed and approved by Daniel Noone, BApSci (Geo), MBA, a ‘qualified person' (QP) as defined by NI 43‐101. There has been no change to the overall mineral resources or mineral reserves that would constitute a material change to the Company. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
TSX : GUY www.guygold.com 13
Recovered Ounces By Year Comparison
‐
0.50
1.00
1.50
2.00
2.50
3.00
3.50
0
50000
100000
150000
200000
250000
300000
350000
400000
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17
Grade
Per Ton
ne
Prod
uctio
n (oz)
Current 43‐101 Technical Report w/ Underground
Stockpile Reclaim (Sap & Fresh) Saprolite Open Pit Underground Total gpt
‐ 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00
‐
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr 11 Yr 12 Yr 13 Yr 14 Yr 15 Yr 16 Yr 17
Grade
Per Ton
ne
Prod
uctio
n (oz)
Open Pit Only Model *
* Note: The Open Pit Only Model is an internal study and is not prepared to NI 43‐101 Standards. Scientific and technical information has been reviewed and approved by Daniel Noone, BApSci(Geo), MBA, a ‘qualified person' (QP) as defined by NI 43‐101. . There has been no change to the overall mineral resources or mineral reserves that would constitute a material change to the Company. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
Units 43‐101 Technical Report (LOM)
Open Pit Only *(LOM)
Operating costs¹ $/oz 424 407
Royalty² $/oz 104 104
Corporate G&A $/oz 31 41
Exploration $/oz 13 20
O/P Development Costs ‐ Sustaining $/oz 28 61
U/G Development Costs ‐ Sustaining $/oz 99 ‐
All‐In Sustaining Costs $/oz 698 633
O/P Mine Development – Non‐Sustaining $/oz 76 102
U/G Mine Development – Non‐Sustaining $/oz 28 ‐
All‐In Costs oz 802 735
14
All‐In Costs Comparison
¹Operating costs include mining, processing costs and site G&A² Assumes US$1,300/oz gold price
www.guygold.comTSX : GUY
* Note: The Open Pit Only Model is an internal study and is not prepared to NI 43‐101 Standards. Scientific and technical information has been reviewed and approved by Daniel Noone, BApSci (Geo), MBA, a ‘qualified person' (QP) as defined by NI 43‐101 There has been no change to the overall mineral resources or mineral reserves that would constitute a material change to the Company. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
www.guygold.com 15
Site Plan
TSX : GUY
Open pit mining begins at ~5,000 tpd in Rory’s Knoll and is completed in two years.
Rory’s Knoll underground follows at ~5,000 tpd while the satellite pits are mined concurrently also at ~5,000 tpd.
Once satellite pits are exhausted, Rory’s Knoll underground continues for an additional 8 years.
TSX : GUY www.guygold.com 16
Logistics & Infrastructure
Road Access to Aurora
TSX : GUY www.guygold.com 17
Buckhall Wharf
TSX : GUY www.guygold.com 18
Buckhall Wharf
TSX : GUY www.guygold.com 19
Camp Facilities
TSX : GUY www.guygold.com 20
New Camp
TSX : GUY www.guygold.com 21
Crusher
TSX : GUY www.guygold.com 22
SAG Mill Foundation
TSX : GUY www.guygold.com 23
SAG Mill Foundation
TSX : GUY www.guygold.com 24
SAG Mill Lean Concrete
TSX : GUY www.guygold.com 25
SAG Mill Lean Concrete
TSX : GUY www.guygold.com 26
CIL Tanks
TSX : GUY www.guygold.com 27
CIL Tanks
28
Aurora Project Team (select members)
MEMBER BACKGROUND MEMBER BACKGROUND
Peter (“Lello”) GalassiProject Director & COO
15+ yrs of International project development and 20 yrs as a senior officer in the USAF.
Formerly Senior Project Manager for Rio Tinto’s Simandou Project in Guinea.
Vic RozonGeneral Manager, Projects
30+ yrs of experience in mineral processing. Previous VP of Operations for Oracle Mining.
Former Mine Superintendent and Mill Manager at Omai Gold/Bauxite Mines for 6 yrs.
Violet SmithCountry Manager
Involved with GUY since its inception. Oversees all operations and logistics in
Guyana as well as the community, government and public relations.
Johannes (“Hans”) RygersbergEngineering & Maintenance Manager
40+ yrs of experience in project engineering roles.
Former Project Manager and Engineering Manager for Victoria Gold.
Reed HuppmanVP, Sustainability and Health & Safety
25+ yrs of experience in applied sustainability and health & safety.
Previous environmental specialist for the World Bank and is an IFC‐certified trainer on performance standards for social and environmental sustainability.
Al WrightConstruction Manager
35 yrs of construction experience including EPCM/EPC, with the last 25 yrsin a supervisory capacity including planning and scheduling of projects from feasibility to commissioning.
Peter BennyHuman Resources Manager
Former Human Resources Manager for Omai Gold Mines in Guyana.
Ghislain (“Jesse”) GervaisHealth & Safety Manager
Former Health & Safety Superintendent of IAMGOLD for the Rosebel and Essakane Construction Projects.
Activity2014 2015
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Debt FinancingEnabling Infrastructure
(Wharf,Road,Quarry,Comunications)
600-Person Camp Installation
Mill Excavation
Pouring of Mill Foundation
Bulk Earthworks (Tailings & River Dyke)
Mill Delivery and Installation
Plant Construction
Mill Commissioning
Open Pit Mine Construction
Commercial Production
Exploration
www.guygold.com 29
Accelerated Timeline to Production
TSX : GUY
(Completed 1-mth ahead of schedule)
(90% completed)
30
Developer Peer Comparison
www.guygold.comTSX : GUY
Source: BMO Capital Markets Equity Research, company filings, FactSet Note: All‐in costs include capex, exploration and G&A expense where available; Development capex excludes sunk and expansion capex. 1. Cash balance for Gryphon and Guyana Goldfields assumes full drawdown on company’s debt facilities. 2. Grade shown for precious metals only.
31
Key Risks and Mitigations
www.guygold.comTSX : GUY
Key Risks Mitigations
Logistics In place and functional Access road is year‐round and operational
Rainfall 2.5m of annual rain fall Site is designed around water management If heavy rainfall, temporary break for no more than a few hours
Country Risk
All permits received Mining friendly jurisdiction and government Stable republic within the British Commonwealth with an elected Head of State Independent since 1966
Cuyuni River / Hydrology
Pit is 225m away from the river Levee designed towards a 10,000 year flood event Detailed hydrogeological and geotechnical studies performed and show minimal
surface subsidence
TSX : GUY www.guygold.com 32
After tax NPV $735M, IRR of 31%, 4.4 yr payback
6.5M oz M&I and 1.82M oz Inferred @ +3g/t Au
In place and functional
Fully licensed and permitted
Already progressing
Extensive mineralization beyond current plan
Management
Region
Country (government and community)
Sustainability
Exploration Upside
Advancing Aurora Gold Project to production
Guiana Shield – known gold region
Pro‐mining, excellent relations
International standards with IFC
Large exploration land package
Aurora Gold Project Robust Economics
Resource and Grade
Key Infrastructure
Permitting
Construction
Growth Potential
Summary
Appendix
TSX : GUY www.guygold.com 34
Simple Metallurgy
TSX : GUY www.guygold.com 35
Effective Water Management – River Levee2 river levees, 1.5 km length in total
Designed up to 60 metres wide and 9 metres high
Dike is engineered to 10,000 year flood event
River is 225 metres away from the pit
www.guygold.com 36
Mineral Reserves & Resources
TSX : GUY
Gold Price $1,300/oz Quantity (Mt) Grade (g/t) Contained Gold (Moz)
Proven ReservesO/P Saprolite 0.168 2.64 0.014O/P Fresh 2.207 3.07 0.218Total Proven 2.375 3.04 0.232Probable ReservesO/P Saprolite 4.955 1.70 0.270O/P Fresh 6.343 3.03 0.618U/G 25.851 2.84 2.357Total Probable 37.219 2.72 3.245Total P & P Reserves¹ 39.524 2.74 3.477
¹ Mineral reserves included in mineral resources.Underground in-situ cut-off grade of 1.2 g/t for Rory's Knoll. Open pit fresh ore in-situ cut-off grade of 0.5 g/t for all deposits. Open pit saprolite ore in-situ cut-off of 0.3 g/t for all deposits.
Measured & Indicated ResourcesO/P 32.77 2.62 2.76
U/G 30.06 3.91 3.78
Total M&I Resources 62.83 3.24 6.54Inferred ResourceO/P 5.12 1.54 0.25
U/G 11.81 4.12 1.56
Total Inferred Resource 16.93 3.34 1.82
www.guygold.com 37
Proven Underground Mining Method
TSX : GUY
Open Benching and SLR Mines• Finsch Mine, South Africa• Koffiefontein, South Africa• Ekati Mine, NWT• Diavik Mine, NWT
SLC Mines• Stobie Mine, Ontario• Granduc Mine, B.C.• Craigmont Mine, B.C.• Ekati Mine, NWT
Diavik Diamond Mine, NW Territories
Ekati Diamond Mine, NW Territories
Finsch Mine, South Africa
• Kiruna Mine, Finland• Ridgeway Mine, Australia• Telfer Mine, Australia• Perseverance Mine, Australia• Big Bell Mine, Australia• Harmony Mine, Australia• Mt Lyall, Australia• Numerous mines in China
and Russia
TSX : GUY www.guygold.com 38
The Region
www.guygold.com 39
Geology
TSX : GUY
Geological Description Rory's Knoll mineralization: disseminated pyrite and gold mineralization associated with intense silica-
fuchsite-sericite-carbonate alteration in tonalite intrusive probably emplaced at the hinge of the folded volcanic rock and metasediments.
Mad Kiss mineralization: disseminated pyrite and gold mineralization associated with intense silica-fuchsite-sericite-carbonate alteration in a quartz feldspar porphyry dyke.
Aleck Hill mineralization: mesothermal gold veins hosted in the shear zones of metavolcanic and metasedimentary rocks; occurs in a zone of pyrite-rich quartz-carbonate veins in volcanic rocks that are enclosed in an alteration envelope which reportedly includes silica-sericite and calcite cement filling fractures.
www.guygold.com 40TSX : GUY
Experienced Management TeamManagement BACKGROUND
Patrick Sheridan Jr.Executive Chairman
Over 20 years of experience in the mining industry Has actively explored in Guyana since 1996 and is the
founder of Guyana Goldfields and lead the discovery of the Aurora and Sulphur Rose deposits
Scott A. CaldwellPresident & CEO
Mining engineer with 30+ years experience building and operating gold and base metal mines worldwide
Former President, CEO and Director of Allied Nevada Gold Corp. from 2006 ‐ 2013
Peter Lello Galassi(“Lello”)COO
15+ years of international project development and 20 years as a senior officer in the United States Air Force.
Formerly Senior Project Manager for Rio Tinto Iron Ore Simandou Project in Guinea, West Africa.
He is based in Guyana and is responsible for daily operations at the Aurora Gold Project.
Paul J. MurphyExecutive VP, Finance & CFO
Over 40 years of financial experience and former Head of PricewaterhouseCoopers LLP Western’s World Mining Practice
Management BACKGROUND
Violet SmithCountry Manager
Over 20 years of experience in operations management and has been involved with Guyana Goldfields since its inception
Dan NooneVP, Exploration
Over 20 years of experience of international mineral exploration and development
Former VP of Peru for Aquiline Resources
Reed HuppmanVP, Sustainability and Health & Safety
25+ yrs of experience in applied sustainability and health & safety.
Previous environmental specialist for the World Bank and is an IFC‐certified trainer on performance standards for social and environmental sustainability.
Jacqueline WagenaarVP, IR & Corp. Comm
Involved with GUY since 2009. Significant experience delivering investor relations programs for several Canadian mining companies with international assets
www.guygold.com 41
Scientific, Technical and Securities Information
TSX : GUY
Scientific and Technical InformationThe qualified person for the mineral resource and reserve estimates and other scientific and technical information herein are as follows: GlenCole, P.Geo. Jarek Jakubek, C.Eng., John Lambert, P.Geo., D Erik Spiller, MMSA and Richard Tocher, P.E, (the “QPs”) who are independent of theCompany and have approved the contents of this presentation. The qualified person for the other scientific and technical information in thispresentation, is Daniel Noone, BApSci (Geo), MBA, and has approved the contents of this presentation.
Technical and scientific information contained herein, including the mineral resource and reserve estimates relating to the Aurora Gold Projectis derived from the “Updated Feasibility Study, Aurora Gold Project, Guyana, South America” dated January 29, 2013 (the “Technical Report”).We have filed the Technical Report under our profile at www.sedar.com. For details of the data verification procedures employed by the QPsand the key assumptions, parameters and methods used to estimate the mineral resource and mineral reserve estimates, please see theTechnical Report. For information about known legal, political, environmental, or other risks that could materially affect the potentialdevelopment of the mineral resources or mineral reserves, please see the Technical Report.
Securities LawsThis presentation does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such wouldbe prohibited. This presentation is not an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securitiesreferred to in this presentation will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United Statesexcept pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.
The information contained in this presentation does not and is not intended to constitute a "valuation," "formal valuation," "appraisal," "priorvaluation," or a "report, statement or opinion of an expert" for purposes of any securities legislation in Canada or otherwise.
CurrencyUnless otherwise indicated, all dollar values herein are in United States dollars.