HI Stephen,
Guyana Goldfields is a penny stock that is highly volatile. At first glance it looks decently priced. It is trading at only 0.13 times book value and 0.26 times sales.
That however, is where the good news ends. The company has a very poor track record. EPS and revenue have been consistently declining. Production levels are declining and the future doesn't look good. Last March it slashed reserves by approximately 40%. It had overestimated the geological structure of its Aurora mine, which is the company's lone producing asset.
In the company's CEO's own words: 1.5 million ounces of gold "was never there". Ouch. It restated reserves again in late march, showing another 2% decline.
It also had to restate the first and third quarter M&A discussion documents due to human error and miscalculation tonnages. AISCs in 2020 are expected to be in thh $17050 range with only 75 million ounces of production. Despite today's high gold prices, it might not turn a profit in 2020.
Things do look better in 2021 has production is expected to more than double, and will reach a peak around 2023 before declining. Average AISC are around the $1050 mark.
Likewise, as a one-mine company operating in a less stable geopolitical environment it also carries additional risk.
Bottom line, I would consider it speculative at best.
Mat