Guyana Goldfields Inc. Reports Earnings and Production Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Production Guidance for 2017
For the year, revenues were $194,153,000. Earnings from mine operations were $71,099,000. Earnings before tax were $44,462,000. Net earnings were $26,984,000 or $0.16 per diluted share. Cash flow from operations was $76,534,000.
For the quarter, Gold production was 43,800 ounces.
For the year, Gold production was 151,600 ounces.
For 2017, the company expects Gold production of 160,000-180,000 ounces.