The company's March 2020 updated life of mine plan estimated 2.2 million ounces of proven and probable reserves where the gold is dispersed at an average 2.7 grams per tonnes of ore.
[3] The company also investigated the feasibility of developing its Aranka/Sulphur Rose deposit, located 23 km from the Aurora mine, as well as exploring at other properties in Guyana.
The company had also acquired exploration rights to the Coronation Gulf project near the Coppermine River in Nunavut, Canada, which had last been explored in 1967-69 but moved that property in 2000 to a subsidiary company called Coppercorp, and later to Coronation Minerals (later renamed Guyana Precious Metals and then GPM Metals Inc.) which would be separately listed on the TSX Venture Exchange.
[8][9] They raised sufficient funds to pay for the mine through private placements, stock offerings, and borrowings, much of it from International Finance Corporation and Export Development Canada.
[12][13] In 2020 both TSX-listed Silvercorp Metals and Shanghai Stock Exchange-listed Zijin Mining made bids to acquire Guyana Goldfields.