Junior Gold Miner Slides on Updated Guidance

Guyana Goldfields Inc. (TSX:GUY), a junior gold miner, fell after announcing that it is adjusting its 2018 annual production and cost guidance

Sean Mason | July 16, 2018 | SmallCapPower

Speculators punished shares of a junior gold miner Monday following an operational setback. Here’s some small stocks making big moves on Monday, July 16, 2018 (as of 4 pm EST):

Guyana Goldfields Inc. (TSX:GUY) shares slid 22% to $3.77 on Monday after the junior gold miner announced that it is adjusting its 2018 annual production and cost guidance to 175,000-185,000 ounces of gold, from 190,000-210,000 ounces, with an expected increase in its all-in sustaining cost to US$945-$995 per ounce, from $830-880 per ounce.

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As well, shares of Edgewater Wireless Systems Inc. (TSXV:YFI) climbed 17% to $0.21 as the next generation WiFi provider said it has been awarded Approved Wireless Vendor status at Mediacom Communications.

The Hydropothecary Corporation (TSX:HEXO), meanwhile, reported the launch of Fleur de Lune, its first medical cannabis oil for personal use. Hydropothecary stock eased 9% to $4.26 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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