11:40 AM EST - Guyana Goldfields Inc. : reported that the Board of Directors has approved a $238-Million U.S. expenditure for the Aurora Gold Project to reach commercial production. The Company has executed a Heads of Agreement and Term Sheet, documenting the principal terms and conditions with joint venture partners, Sedgman Limited and Graña y Montero for the full Engineering, Procurement, and Construction of the initial processing facility and power plant at the Project in Guyana, South America. The proposed EPC contract will be on a "not-to-exceed" basis, valued at $137 million U.S. Guyana Goldfields Inc.
shares T.GUY are trading up $0.07 at $1.67.
