Guyana Goldfields Inc. reported production and earnings results for the fourth quarter and full year of 2019. For the quarter, the company's Gold production was 28,300 ounces.

For the full year 2019, gold production totaled 124,200 ounces.

For the quarter, the company's revenue was $38.9 million. Comprehensive net loss was $245.2 million, or $1.40 per share.

For the full year 2019, the company's revenue was $174.2 million. Comprehensive net loss was $263.3 million, or $1.51 per share, in the full year 2019 (including the effect of the impairment charge discussed below).

The company announced n on-cash impairment charge of $235.0 million in the fourth quarter of 2019.

On March 18, 2020, as a result of COVID-19 related travel restrictions in and out of Guyana, the company announced the temporary suspension of underground development. Total development meters reached 1,156 meters prior to work being suspended. Production, prior to care and maintenance, is estimated to total approximately 35,000 to 45,000 ounces in the first half of 2020. The site will continue to be maintained and environmental risks managed to ensure safety and security of the mine until operations can be resumed.