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GDXJ has been agressively adding to their new and old positions since the end of re-balance on 6/17, I'm sure GDX has been following suit as well.
https://www.zacks.com/funds/etf/GDXJ/holding
Here you go MDM, no editing, charts or comments.
Golden Star Resources Issues Several Positive Press Releases
Sep. 29, 2017 5:35 PM ET|11 comments| About: Golden Star Resources Ltd (GSS)
Crunching Numbers
Crunching Numbers
Long only, dividend investing, media, telecom
(1,538 followers)
Summary
Golden Star Resources issues three positive press releases over the past two weeks.
Discloses positive drilling results for both of its underground mines.
Announced commencement of stoping at Prestea.
Golden Star Resources (GSS) is a gold mining company operating in Ghana, one of the more stable African countries. It is a company that has been transitioning from open pit mining to underground mines with greater yield and lower production costs. The first of these two mines, Wassa, began commercial production in the first quarter of this year, and the second, Prestea, is currently scheduled to begin commercial production in Q4.
The most recent projections of production and cost per ounce forecast by the company are shown in the following chart:
(Source: April 2017 Company Presentation)
Meeting these goals is obviously dependent on the company's successfully growing production and, more importantly, for long-term investors, extending the life of these mines. The latest drilling results for Wassa were released earlier this month were positive, and in a September 19th press release, CEO Sam Coetzer issued the following statement:
I am excited to report these initial results from our Wassa Underground surface drilling program, which confirm that the B Shoot is significantly larger than previous estimates suggested. It is the first time we've invested significantly in exploration for several years, having previously been focused on building our two underground developments, and I'm very pleased that it is reaping such encouraging results. The results represent the potential to increase Wassa Underground's Mineral Resources and Mineral Reserves and consequently, its gold production in the short term and the longer term. I look forward to releasing further results during the rest of the year with the expectation of demonstrating Wassa Underground's potential to be a high grade gold producer beyond the current seven year mine life.
In addition, the company's latest presentation at the Denver Gold Forum on September 24th noted that the company was exceeding its planned mining rates at Wassa by 200 tons per day and that the average grams per ton were expected to increase as the mining continued.
Similarly, a press release about recent drilling at the Prestea underground mine was issued on September 21st and confirmed:
...the West Reef ore body extends to the north of the existing Mineral Reserves at Prestea Underground [and that] This represents the potential to add additional ounces to the short term mine plan and increase Prestea Underground's production rate
Coetzer was even more positive in his comments about Prestea than his comments about Wassa:
We believe that Prestea Underground is one of the highest grade gold development projects in West Africa... ...initial results from our extension drilling program indicate that the West Reef extends to the north of the existing Mineral Reserves, representing the potential to increase the annual production rate in the near term.
The third press release mentioned earlier noted that:
The successful blasting of the initial ore from the first stope in the [Prestea] West Reef ore body took place on September 27, 2017.
...It is expected to produce 90,000 ounces of gold per annum at a cash operating cost of $468 per ounce and an All-In Sustaining Cost of $615 per ounce over an initial mine life of 5.5 years.
This is important, as is the Prestea initial commercial production expected in Q4. Note that the cash operating cost ($468) and All-In Sustaining Cost ($615) are both well below the averages in the above chart. Although Wassa will produce more total ounces of gold, its yield is expected to be far less than Prestea (see below):
Source: Golden Star presentation at Denver Gold Forum on 9-24-2017
Whether or not Coetzer's optimistic outlook will be realized remains to be seen. The company plans on more exploratory drilling this year and into 2018. This drilling will be important to confirm the extent of the high grade ore content as well as the direction, depth, and width of these ore bodies.
Regardless, the company - and its investors - remain at the mercy of the price of gold. Earlier this month, it was pushing up towards $1,350 per ounce as Donald Trump and North Korean leader Kim Jong Un made headlines over nuclear weapons and missile tests. The price is now down towards $1,280 per ounce.
Still, if one is interested in a high risk - high reward, small cap, gold stock, Golden Star is one that you should probably consider.
Disclosure: I am/we are long GSS.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: I may sell covered calls against my positions at any time.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Yes JD, I understood your "tongue in cheek" just wanted to add my two cents for the non-believers that don't bother with fundementals.
Why all of the sudden this article? There have been many others that are better.
I do sometimes if there are no charts or comments, usually too much editing to make it look right.
Not gonna happen, deal is completed, Black Fox will all but pay for itself next year, run back up has already commenced. I loaded up @ 2.04
Denver Gold Forum Video Presentation 9/26
Sam Coetzer presenting...a must watch!
http://www.denvergoldforum.org/dgf17/dgf17-webcasts/2017-ondemand-webcast/
Golden Star Announces Commencement of Stoping at Prestea Underground Gold Mine
Prestea Underground is expected to achieve commercial production in the fourth quarter of 2017. The mine has Mineral Reserves of 1.09 million tonnes at 13.93 grams per tonne of gold. It is expected to produce 90,000 ounces of gold per annum at a cash operating cost1 of $468 per ounce and an All-In Sustaining Cost1 of $615 per ounce over an initial mine life of 5.5 years.2 Exploration drilling is underway at the mine with the objective of increasing the annual production rate and extending the mine life.
https://finance.yahoo.com/news/golden-star-announces-commencement-stoping-105500199.html
Just mess'n with ya Tom.
Chinese Golden Week Begins Tomorrow.
I predict gold will be down next week...see, so easy a caveman can do it!
http://www.zerohedge.com/news/2017-09-27/real-driver-golds-recent-weakness
A chained up monkey in my basement can predict PM's dropping, especially on opex, since that is what they are rigged to do. Try predicting some advances once in awhile and making some money at it, LOL.
(GSS) Golden Star Resources May Have A Bonanza On It Hands After Recent Discovery At Its Wassa Gold Mine
And the S/A article doesn't even mention the high grade Prestea underground mine, set to commence commercial production in Q4. Get'm while they're still cheap @.753
https://seekingalpha.com/article/4108511-golden-star-resources-may-bonanza-hands-recent-discovery-wassa-gold-mine
A duplicate article could be written about Prestea!
Yes, I'd say all those very high g/t intercepts are exceptional when the norm is under 7 g/t. Can you say high grade depost!
Golden Star Resources May Have A Bonanza On It Hands After Recent Discovery At Its Wassa Gold Mine
And the hits keep coming!
https://seekingalpha.com/article/4108511-golden-star-resources-may-bonanza-hands-recent-discovery-wassa-gold-mine
Prestea Update...More Excellent Drill Results!
Commercial underground production scheduled to begin in 4th quarter.
http://www.stockhouse.com/news/press-releases/2017/09/21/golden-star-reports-initial-high-grade-extension-drilling-results-from-prestea
Outstanding Drill Results At Wassa Underground.
HIGHLIGHTS:
Assay results received for 11 out of 15 diamond drill ("DD") holes testing the B Shoot to the north and for the 1,192 metre step out hole located 200 metres to the south of last deep drill fence
Results confirm that the high grade B Shoot ore body extends approximately 50 metres to the north of the current planned stoping area and 200 metres to the south of Wassa Underground's current Inferred Mineral Resources, suggesting the potential to expand production in the short term and longer term
Significant intercepts from the B Shoot North drilling included:
14.9 metres ("m") grading 18.9 grams per tonne ("g/t") of gold ("Au") from 294.0m in hole BS17DD002, including:
2.0m grading 91.8 g/t Au from 300.0m
23.8m grading 7.3 g/t Au from 289.9m in hole BS17DD003, including:
4.0m grading 21.8 g/t Au from 293.0m
Significant intercepts from the B Shoot South drilling included:
23.8m1 grading 6.1 g/t Au from 1,001.0m in hole BS17DD385M, including:
2.0m grading 20.1g/t Au from 1,018.0m
21.7m1 grading 5.3 g/t Au from 1049.3m in hole BS17DD385M
Further drilling results expected from Wassa Underground during the second half of 2017, in addition to the results of the definition and extension drilling at the Prestea Underground Gold Mine ("Prestea Underground")
"I am excited to report these initial results from our Wassa Underground surface drilling program, which confirm that the B Shoot is significantly larger than previous estimates suggested. It is the first time we've invested significantly in exploration for several years, having previously been focused on building our two underground developments, and I'm very pleased that it is reaping such encouraging results. The results represent the potential to increase Wassa Underground's Mineral Resources and Mineral Reserves and consequently, its gold production in the short term and the longer term. I look forward to releasing further results during the rest of the year with the expectation of demonstrating Wassa Underground's potential to be a high grade gold producer beyond the current seven year mine life."
Read more at http://www.stockhouse.com/news/press-releases/2017/09/19/golden-star-extends-high-grade-b-shoot-zone-through-step-out-drilling-at-wassa#3jouuphBKqdXLqRB.99
I believe so, they did one of these in 2014 that has expired so, I think it is just a formality that allows fast tracking of an equity offering if needed.
Inability of the banks and cartels to manipulate and control is the advantage of Bitcoin, that is why they want to make it illegal. If bitcoin didn't come along, all that flow would have gone into PM's.
News Out
Not sure exactly what this means but, 725,000 shares @.74 were bought at the close today. $250,000,000 is a lot of coin, I hope this offering is for other than common shares.
http://www.conferencecalltranscripts.org/summary/?id=4148843
http://stocknewsflow.com/903571_000104746917005878_0001047469-17-005878
Old news.
Thanks Bob, I do still own some shares but, sold most of it before the R/S to take advantage of other more tangible opportunities.
Let's hope so, and move on up tomorrow.
AISC still too high, production still too low, debt still too high, sector sentiment still recovering, momentum still recovering. With continued rising gold, IMO we will be near that price in 2019.
IMO, right now 1.30
Did you notice that last year Kitco started showing bid/ask and now they display the low/high for the day as bid/ask but, the bid isn't reflected in the chart, that way using the spread as the high/low the low appears more severe than it really is. Regardless, gold is looking strong again this morning.
Nice $1334.80 close for Gold!
Let's hope Kim Jong-un doesn't trip with that piece offering for Trump...
Congrats and thanks Cork for one hell of an eye opening experience...learned so much, thanks to all, have a happy and safe Labor Day weekend!
Yep, they sure did, Dow puked up most of it's gains and Gold closed at it's highs...that'll give the sheeple something to talk about at the barbi.
Oh I don't know, trend maybe, opex over, everything globally is pretty shitty, its so manipulated its hard to predict, it should easily be over $1500 by now..looking at Bitcoin @ $4800 should tell you that. Regardless GSS will continue to rise until fair value is reached...over $1 by years end regardless of gold.
COME ON GOLD, CLOSE ABOVE $1325 FOR THE HOLIDAY WEEKEND!
Not today, GSS is # 1 junior miner according to Zacks and myself, still extremely undervalued with strong fundementals and momentum, up 20% this week, I think we got noticed.
So now, weak jobs report is BAD for gold.
Can't have weak Dow and strong Gold to kick off holiday weekend now can we. The Ignorant Sheeple Masses (ISM) might talk
Ugly Jobs Report: August Payrolls Miss, Slide To 156K; Hourly Earnings Also Disappoint
http://www.zerohedge.com/news/2017-09-01/august-jobs-miss-slide-156k-prior-revised-lower-hourly-earnings-disappoint