GUYANA Goldfields Inc., on Wednesday, announced that it has received notice from Silvercorp Metals Inc. that it will not exercise its right to match the offer that a foreign-based multinational mining company made, as was announced on June 3, 2020.

This is according to a press release from Guyana Goldfields Inc. on Wednesday.

The release stated that the offer was for the acquisition of all of Guyana Goldfields’ issued and outstanding common shares that the ‘offerer’ did not already own.

Guyana Goldfields Inc., a Canadian-based gold producer which operates the Aurora Gold Mines in Guyana, this week, announced that its operations have been halted to allow for the commencement of its care and maintenance phase.