Photos: Grimes At The 7th St. Entry
by Jon Behm · Published · Updated
Grimes
Born Gold
— Photos by Jon Behm
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Guyana Goldfields Inc. Signs Memorandum of Understanding for the Mineral Agreement with the Government of Guyana; Mining License to be Issued Within 45 Days.
Economics Week October 21, 2011 Guyana Goldfields Inc. (TSX: GUY) (“GGI” or “the Company”) is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) for the Mineral Agreement (“MA”) and Mining License with the Government of Guyana for the 100% owned Aurora Gold Project located in Guyana, South America.
The MOU sets out the key terms of the MA, also known as a Fiscal or Stability Agreement, which is a comprehensive agreement that outlines the fiscal terms and conditions for the development and mining of the Aurora Gold Project. Significant among the terms of the MOU are:
o Mining royalty of 5% on gold sales at a price of gold of US $1,000/oz or lesso Mining royalty of 8% on gold sales at a price of gold over US $1,000/ozo Corporate income tax rate of 30%o A Mineral Agreement and Mining License and all relevant permits and approvals to be issued within 45 days of signing the MOU. site memorandum of understanding
The MA is the final step in obtaining the Mining License since the Company has already received its Environmental Permit in September 2010. The Mineral Agreement signals the commitment of the Government of Guyana and the Company to the development of the Aurora Gold Project. This watershed agreement is an important milestone for GGI as it will allow the advancement of the mine development project under a clear and stable fiscal and royalty regime.
Mr. Patrick Sheridan Jr., CEO states, “We are pleased to have concluded extensive negotiations with the Guyanese Government on the fiscal terms included in the Memorandum of Understanding for this historic Mineral Agreement and look forward to obtaining our Mining License in order to build and operate the Aurora Gold Project. We have agreed upon fair and reasonable terms for the future success of the Aurora mine.” This landmark agreement, which strikes a fair and reasonable balance of taxation and royalties for gold mining, reaffirms GGI’s view that Guyana is “open for business”. website memorandum of understanding
Honourable Sam Hinds, Prime Minister and Minister of Mines in Guyana states, “The Government welcomes and fully supports all investment, foreign and local, in the mining sector and are pleased that we have come to a fiscal agreement in order for the long-awaited development of the Aurora Project to begin. We look forward to working alongside GGI as they move towards production.” Up until now, Guyana Goldfields has conducted off-site infrastructure construction work in preparation for the development and construction of the Aurora Gold Project. Upon obtaining the Mining License, the Company plans to initiate the construction of the on-site infrastructures including a new camp, airstrip, river dyke and completing road access to the site, which will be followed by the construction of the mining facilities.
Guyana Goldfields will be hosting a conference call for anyone wishing to address questions to management regarding the terms of the Memorandum of Understanding for the Mineral Agreement and Mining License.
Conference Call Details:
Date of Call: Wednesday, October 5, 2011 Time of Call: 11:00am EST Conference ID: 15229257 Dial-In Numbers:
North America Toll-Free:
International: (888) 231-8191 For anyone not able to participate in the conference call, an audio webcast will be available for 90 days through the following link:
Yo Jon what did you think of the show?
I thought Grimes sounded good once she got her technical issues sorted out. Elite Gymnastics sounded better than I expected. Overall it was hard to even be in the room though with so many people and the heat level. I couldn’t hang – had to duck out and dry off.
Were you there? What were your thoughts?
I was there and I thought it was good overall – though not as good as Lower Dens. As you said Jon, once she got that effect corrected she sounded great. Elite Gymnastics are great/funny. I was actually thankful for her short set – I needed air badly.
I thought she was real solid. I was very impressed how well her vocals translated live. She has an amazing voice. I also thought she was incredibly smart in her set length and choice of songs. She left to people begging for an encore and played basically only her dance centric songs, which is really what the atmosphere called for. With that being said she still has a lot she could have experimented with in terms of the performance aesthetically. This might sound totally bizarre, but I thought it was too bright and that her music would be better served with some weird light set up, I mean if she wants people to dance shit has to be darker, especially at the modest hour of 11:30. This could also be because born gold had a crazy wild light set-up, that Grimes felt in a way more mellow. Missed out on Elite Gymnastics, sorta bummed I was curious. But nonetheless the show was mad fun and I am very interested to see her progression the next time she visits.