Canada-based Guyana Goldfields has announced its first sale of 1,400oz of gold from its wholly owned Aurora Gold Mine in Guyana, South America.

Guyana Goldfields president and CEO Scott Caldwell said: "Plant ramp-up is progressing well and we expect to reach commercial production in the first quarter of 2016 and still hold an untouched $52m of overrun facility.

"The first gold sale for the company is a true testament to the quality of the construction team at site and I look forward to this new phase of revenue generation for the company as Aurora ramps-up to becoming Guyana’s newest large-scale gold producer."

"We expect to reach commercial production in the first quarter of 2016 and still hold an untouched $52m of overrun facility."

According to the company, the full operational control of the entire plant has been taken over along with the primary crusher.

The plant is now commissioned with saprolite (soft) ore.

Once Aurora has the ability to mine and mill an average of 75% of the designed capacity, Guyana Goldfields said it plans to declare commercial production.

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By GlobalData

The company hopes to declare commercial production during the first quarter of 2016.

The Aurora Gold Mine has a total gold resource of 6.54 million ounces in the measured and indicated categories, as well as an additional 1.82 million ounces in the inferred category.

It has total proven and probable reserves of 3.48 million ounces of gold.