Golden Star Resources Ltd. ("Golden Star" or the "Company") today announced its preliminary production results for its Bogoso/Prestea and Wassa/HBB operations for the three month period ended June 30, 2013.
In the second quarter of 2013 the Company sold a total of 85,090 ounces ("oz") of gold ("Au") at an average realized price of $1,418 per oz.
- Bogoso/Prestea mine sold 34,316 oz Au for the quarter
- Wassa/HBB operations sold 50,774 oz Au for the quarter
Year-to-date the Company has sold 166,451 ounces of gold and as of June 30, 2013, had a cash balance of $52.9 million.
Sam Coetzer, President and CEO of Golden Star, commented, "The second quarter of 2013 was another strong operational quarter for the Company. Despite the recent decline in gold prices and general market turmoil, we have remained resilient, with both our Bogoso and Wassa operations continuing to produce well. The Company is on track to achieve its updated gold production guidance for 2013, as press released on June 17, 2013. At the Bogoso Mine the Company continues to focus on the pit wall pushbacks at both the Bogoso North and Chujah pits and, with the new excavators in place, productivity has continued to improve."
The Company will update the market on midyear exploration results in the near future.
Company profile
Golden Star holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana. In addition, Golden Star has a 90% interest in the Prestea Underground mine in Ghana. Golden Star also holds gold exploration interests elsewhere in Ghana, in other parts of West Africa and in Brazil in South America. Golden Star has approximately 259 million shares outstanding.
Source: http://www.gsr.com