Guyana has been under pressure from investors, complaining that the company has lost significant value in the last three years due to the underperforming Aurora mine. The company and dissenting shareholders, led by founder Patrick Sheridan, settled in April with the appointment of Allen Palmiere as director and interim CEO.

Operations at Aurora were temporarily suspended in July due to work stoppage. The controversial mine produced 22,100 oz gold, amounting to 96,000 oz produced in the first nine months of the year.

“Our reviews have confirmed that we have a sound asset, including geological resources and a robust processing facility, however, the mine plan requires further review in order to maximise the value of Aurora,” Palmiere stated in a media release.

According to Palmiere, the company has started a “comprehensive mine, production and cost savings review plan to make the necessary changes and improvements to increase productivity and profitability.”

Full details of the review are expected in the first quarter of 2020.