Guyana Goldfields has completed mining at Phase 4 at Rory’s Knoll openpit and satellite pits and will now process stockpiles.

“The phased reduction of activity and employees is well under way and is expected to be completed over the course of the coming weeks,” reported Guyana Goldfields.

The company last week received a takeover offer from a foreign-based multinational mining company, which is superior to the offer that it has from Silvercorp Metals.

The unnamed party’s offer values Guyana Goldfields at C$323-million.