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BRIEF-Guyana Goldfields Inc successfully completes debt restructuring
December 21, 2016 / 12:43 PM / in 10 months

BRIEF-Guyana Goldfields Inc successfully completes debt restructuring

Dec 21 (Reuters) - Guyana Goldfields Inc

* Guyana Goldfields Inc successfully completes debt restructuring

* Guyana Goldfields Inc says reduced its debt by 50% to $80 million over course of 2016 and is expected to end year with a cash balance of $64 million

* Guyana Goldfields says estimates annual cost savings of new operating facility will amount to approximately $4.5 million per year over course of new facility

* Guyana Goldfields says upon completion of restructuring, one-time, non-cash charge of $8 million will be applied to fully expense deferred financing costs in Q4

* Charge expected to adversely affect that quarters earnings per share with no effect on cash flow Source text for Eikon: Further company coverage:

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