Join the conversation:

Guyana Goldfields Announces Change in Financial Year-End

Guyana Goldfields Announces Change in Financial Year-End

Posted by Shanelle Weir on August 12, 2014

Guyana Goldfields Inc. (TSX: GUY) ("GGI" or "the Company") would like to announce that, effective in 2014, its financial year-end will be changed from October 31(st) to December 31(st) to align GGI's financial reporting calendar with other public mining companies and to facilitate the investment community's ability to compare its financial performance. GGI will report a, one-time, fourteen month transition year covering the months of November 2013 to December 2014. Subsequent to the transition year, the Company's first full financial year will cover the period January 1, 2015 to December 31, 2015.

During the remainder of the transition year, GGI will file interim financial statements for the three and nine-month interim periods ending July 31, 2014 and July 31, 2013 and the three and twelve-month interim periods ending October 31, 2014 and October 31, 2013. Year-end financial statements will be filed for the fourteen month period ending December 31, 2014 and these will be compared to the financial statements for the twelve months ended October 31, 2013.

During its new financial year, GGI will file interim financial statements (comparative period end dates presented in brackets) covering the three months ended March 31, 2015 (April 30, 2014), the three and six-month periods ended June 30, 2015 (July 31, 2014), and the three and nine-month periods ended September 30, 2015 (October 31, 2014). Annual statements will be filed for the new financial year ending December 31, 2015 with comparative statements from the previous fourteen month financial year ending December 31, 2014.

As prescribed in National Instrument 51-102 Continuous Disclosure Obligations, the filing deadline for the annual financial statements will be on or before the 90th day after the end of the most recently completed financial year and the filing deadline for the interim financial statements will be on or before the 45th day after the end of the interim period.

About Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canadian based Company, focused on the exploration and development of gold deposits in Guyana, South America. The Company is focused on the construction and development of the Aurora Gold Project scheduled for commercial production in mid-2015. The Aurora Gold Project has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au). For further details, please refer to the press release dated December 9, 2013 and the report entitled "NI 43-101 Technical Report, Updated Feasibility Study -- Aurora Gold Project" dated January 29, 2013 available on SEDAR at www.sedar.com. The Company also holds a significant portfolio of attractive exploration properties and holds cash and cash equivalents of US$68M as of July 31, 2014.

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES