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Has anyone heard anything from the new IR Firm?
Its been a couple of bad days for gold, but back over $900 this morning.
This is good news, more exposure for GSS means more $$$.
News Out!
Golden Star Announces Completion of Ghanaian Offering
9:30a ET February 1, 2008 (Business Wire)
Golden Star Resources Ltd. (AMEX: GSS) (TSX: GSC) today announced that it has completed the sale of 1,869,020 common shares, with gross proceeds to Golden Star of 5,607,060 Ghanaian Cedis or approximately $5.8 million. The offering was carried out in support of Golden Star's recent application to list its common shares on the Ghana Stock Exchange. The shares were registered under the U.S. Securities Act of 1933.
Since the majority of Golden Star's exploration and production assets are located in Ghana it was a natural progression for Golden Star to seek a listing of its common shares on the local stock exchange in order to support the further growth of the Ghana Stock Exchange and to provide our employees and stakeholders in Ghana with an opportunity to invest in Golden Star.
Trading on the Ghana Stock Exchange is expected to commence on February 15, 2008. Golden Star has secured the listing of the common shares issued in the Ghanaian offering on the American Stock Exchange and has received conditional approval to list those shares on the Toronto Stock Exchange, with that listing being subject to Golden Star fulfilling the applicable listing requirements. Upon the commencement of trading on the Ghana Stock Exchange, the common shares of Golden Star will trade concurrently on all three exchanges.
Tom Mair, Interim President and CEO, commented, "We are very pleased with the success of this offering in Ghana. We look forward to many years of continuing work in Ghana and this offering supports our efforts by allowing our local employees, the Ghana Stock Exchange and Ghana in general to benefit and grow with Golden Star."
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 open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 233 million shares outstanding.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding the timing for the commencement of trading on the Ghana Stock Exchanges. Factors that could cause actual results to differ materially include fluctuations in gold price, changes in U.S., Canadian and Ghanaian securities markets, and failure to receive regulatory and/or stock exchange approvals. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other risk factors in our annual report on Form 10-K, as amended, for the fiscal year ended December 31, 2006. While we may elect to update the forecasts at any time, we do not undertake to update them at any particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimate as of any date other than the date of this press release.
For further information, please contact: GOLDEN STAR RESOURCES LTD. +1-800-553-8436 Bruce Higson-Smith, Vice President Corporate Development Anne Hite, Investor Relations Manager
SOURCE: Golden Star Resources Ltd.
Golden Star Resources Ltd. Bruce Higson-Smith, Vice President Corporate Development, +1-800-553-8436 Anne Hite, Investor Relations Manager, +1-800-553-8436
Gold breaking new highs. Hoping GSS will follow.
Short Squeeze??
Fed cuts rates by another 1/2%. GSS moving higher :)
They were talking about another 3/4% cut at the end of the month on cnbc.com yesturday afternoon.
I guess we got the bounce. The street is expecting another 3/4% cut.
When's the bounce gonig to happen?
Yep, Gold is not done going up.
OT: Anyone else having trouble with Ameritrade?
I see green. Go GSS GO!!!
GSS coming back to life. I'm still hoping for another Fed cute at their next meeting.
IMO the Fed should of cut by 1 whole %, but I'm glad they didn't wait until the end of the month.
Looks like its going to be a blood bath on Wall Street today. Watch for a bounce in GSS if the FED steps up and cuts rates today.
Could of been worse
For the past week GSS has traded down to these lower levels just to bounce back in the afternoon for a flat or even higher close. I hope it happens again today.
News Out!!! Moving up after hours
Golden Star Reports Record Operating Results for 2007 and Guidance for 2008
4:10p ET January 17, 2008 (Business Wire)
Golden Star Resources Ltd. (AMEX: GSS)(TSX: GSC) today announced that it has achieved record quarterly gold sales for the fourth quarter of 2007 of 88,015 ounces at a cash operating cost of $582 per ounce and a total of 246,278(2) ounces for 2007 at a cash operating cost of $601 per ounce. Fourth quarter gold production in 2007 was 56% higher than the gold production in the fourth quarter of 2006 and 26% higher than the third quarter of 2007. We were able to exceed the top end of the 125,000 ounce guidance range for Wassa and meet the Company's production guidance range for 2007 of 240,000 to 270,000 ounces.
BOGOSO/PRESTEA For the three months For the twelve months ended December 31, ended December 31, ------------------------- ------------------------- OPERATING RESULTS 2007 2006 2007 2006 ------------------ ------------ ------------ ------------ ------------ Ore mined (t)-- Refractory 893,552 - 1,427,958 - Ore mined (t)--Non refractory 187,212 240,341(1) 928,621 1,363,316(1) Total ore mined (t) 1,080,764 240,341 2,356,597 1,363,316(1) Waste mined (t) 5,333,884 257,976 18,515,851 6,013,859(1) Refractory ore processed (t) 763,482 - 1,640,318 - Refractory grade-- (g/t) 2.53 - 2.50 - Recovery-- Refractory (%) 57.0 - 52.1 - Non refractory ore processed (t) 193,244 420,889 1,429,309 1,493,948 Non refractory grade--(g/t) 2.10 3.50 2.04 3.56 Recovery--Non refractory (%) 74.8 61.5 73.3 60.4 Cash operating cost ($/oz) 746 309 766 412 Gold sold (oz) 48,067 28,054 120,216(2) 103,793
WASSA For the three months For the twelve months ended December 31, ended December 31, ----------------------- ----------------------- OPERATING RESULTS 2007 2006 2007 2006 ---------------------- ----------- ----------- ----------- ----------- Total ore mined (t) 781,538 590,960 3,091,292 2,449,272 Waste mined (t) 1,793,988 2,575,156 8,125,132 11,608,484 Ore and heap leach materials processed (t) 900,287 891,259 3,752,376 3,690,672 Grade processed (g/t) 1.51 1.14 1.17 0.90 Recovery (%) 93.9 89.4 92.0 88.8 Cash operating cost ($/oz) 385 464 444 474 Gold sold (oz) 39,948 28,532 126,062 97,614
BOGOSO SULFIDE PROCESSING PLANT UPDATE
Overall, the Bogoso sulfide processing plant exhibited significant improvements throughout the fourth quarter although we did not meet our gold sales target. Overall gold recovery improved from an average of 40.9% in the third quarter of 2007 to an average of 57.0% in the fourth quarter. Plant modifications and implemented operating efficiencies helped to spur these improvements. One such improvement was the implementation of the SINOX ("Sulfide-IN-OXide plant") processing that was thoroughly tested during the past quarter. SINOX is the processing of refractory ore through the Bogoso oxide processing plant which has its own flotation circuit. Our testing of this methodology has been successful and this provides greater processing flexibility and in future years should allow Bogoso/Prestea to maintain a higher gold production rate once the oxide reserves are depleted.
Cash operating costs at Bogoso/Prestea were marginally improved but still high, primarily a result of the lower than expected recoveries. As the plant modifications and operating improvements are implemented, our cash costs should decline accordingly. We are anticipating cash operating costs to range between $525 and $565 per ounce in 2008 and dropping to the $430 to $540 range in 2009. Comparison to 2006 cash operating costs is not meaningful as the Bogoso sulfide processing plant was not in operation in the fourth quarter of 2006.
WASSA
The Wassa mine again delivered a record quarter due to higher grades and recovery with 126,062 ounces of gold sold for the year. Wassa exceeded the top end of our guidance. We anticipate a further increase in Wassa gold production once mining of higher grade ore commences at Benso during the third quarter of 2008.
Fourth quarter 2007 cash operating costs at Wassa decreased 16% compared to fourth quarter 2006. On an annual basis the decrease was 6%. We believe that costs will decrease in the second half of 2008 as higher grade ore from the HBB project delivers ore to the Wassa processing plant.
OBJECTIVES FOR 2008:
-- Continue optimizing the Bogoso sulfide processing plant to improve recoveries and availabilities;
-- Construction and development of the Benso portion of the HBB project with ore scheduled to be delivered to Wassa during the third quarter of 2008;
-- Permitting of Prestea South ore bodies in 2008 to provide oxide ore for the Bogoso oxide processing plant in 2009;
-- Completion of the Prestea Underground pre-feasibility study by the first quarter of 2008;
-- Continued exploration drilling at Bogoso/Prestea, Wassa and the HBB concessions to further evaluate their resource potential.
GUIDANCE
Based on our objectives for 2008, we expect our production and cash operating costs in 2008 and 2009 to be as follows:
2008 2009 ---------------------------------------------------------------------- Gold Cash Gold Cash Production Operating Production Operating (000's oz) Cost (000's oz) Cost ($/oz) ($/oz) ---------------------------------------------------------------------- Bogoso/Prestea 235 - 275 525 - 565 300 - 350 430 - 540 ---------------------------------------------------------------------- Wassa 135 - 150 440 - 490 200 - 210 370 - 430 ---------------------------------------------------------------------- Total 370 - 425 490 - 540 500 - 560 410 - 490 ----------------------------------------------------------------------
We expect to increase gold sales by at least 50% in 2008 and 73% in 2009 compared to 2007.
As more fully disclosed in the Risk Factors Item 1A in our December 31, 2006 Form 10-K as amended, numerous factors could cause our estimates and expectations to be wrong or could lead to changes in our plans. Under any of these circumstances, the estimates described above could change materially.
Tom Mair, President and CEO, said: "While we were not satisfied with the performance of the Bogoso sulfide processing plant, definite progress is being made to correct issues and optimize operations. We have identified areas in which improvements can be made and these areas will be addressed in the next two quarters. We expect that these changes will result in increased gold production and lower cash operating costs."
"Wassa had another record quarter, with increased gold grades and recovery rates resulting in 2007 gold production guidance being exceeded. We expect gold production at Wassa to increase in the 3rd and 4th quarters of 2008 following the scheduled start-up of the Benso mining operation as an additional source of high grade ore for the Wassa processing plant."
"Our exploration activities are generating positive results - recent drilling at Prestea South has resulted in the conversion of a significant amount of Inferred Mineral Resources to Indicated Mineral Resources, as we announced on January 11, 2008. In addition, continued drilling of our HBB concessions are expected to return positive results during the first half of 2008."
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 open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 234 million shares outstanding.
Non-GAAP Financial Measures: In this news release, we use the terms "cash operating cost per ounce." Cash operating cost per ounce is equal to "total cash costs" (which is equal to total production costs less depreciation, depletion, amortization and asset retirement obligation accretion) less production royalties and production taxes, divided by the number of ounces of gold sold during the period. We use total cash cost per ounce and cash operating cost per ounce as key operating indicators. We monitor these measures monthly, comparing each month's values to prior period's values to detect trends that may indicate increases or decreases in operating efficiencies. These measures are also compared against budget to alert management to trends that may cause actual results to deviate from planned operational results. We provide these measures to our investors to allow them to also monitor operational efficiencies of our mines. We calculate these measures for both individual operating units and on a consolidated basis. Total cash cost per ounce and cash operating cost per ounce should be considered as Non-GAAP Financial Measures as defined in SEC Regulation S-K Item 10 and applicable Canadian securities laws and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. There are material limitations associated with the use of such non-GAAP measures. Since these measures do not incorporate revenues, changes in working capital and non-operating cash costs, they are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Changes in numerous factors including, but not limited to, mining rates, milling rates, gold grade, gold recovery, and the costs of labor, consumables and mine site general and administrative activities can cause these measures to increase or decrease. We believe that these measures are the same or similar to the measures of other gold mining companies, but may not be comparable to similarly titled measures in every instance.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding availability of the mill at the Bogoso sulfide processing plant, the timing and impact of the upgrade at Bogoso including the increased capacity of the oxygen plant, flotation circuit and recovery rate improvements, CIL recovery rate improvements, attainment of flotation recovery design levels, timing of the expected commissioning of and first ore produced from the Benso mine at the HBB project and the impact on Wassa production, the timing of completion of the Prestea Underground pre-feasibility study, permitting of Prestea South, plans for exploration, drilling and optimization activities and 2008 and 2009 gold production and cash operating cost estimates. Factors that could cause actual results to differ materially include timing of and unexpected events at the Bogoso/Prestea oxide and sulfide processing plant; variations in ore grade, tonnes mined, crushed or milled; variations in relative amounts of refractory, non-refractory and transition ores; delay or failure to receive board or government approvals and permits; timing and availability of external financing on acceptable terms; technical, permitting, mining or processing issues; changes in U.S. and Canadian securities markets, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K, as amended, for 2006. The forecasts contained in this press release constitute management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While we may elect to update these estimates at any time, we do not undertake to update any estimate at a particular time or in response to any particular event. Investors and others should not assume that any forecasts in this press release represent management's estimates as of any other date other than the date of this press release.
SOURCE: Golden Star Resources Ltd.
Golden Star Resources Ltd. Bruce Higson-Smith, +1-800-553-8436 Vice President Corporate Development or Anne Hite, +1-800-553-8436 Investor Relations Manager
Spot Gold uptrending to new highs
MrMarco you might want to up your sell price :)
Moving on up
News Out!!
Golden Star Increases Prestea South Gold Unconstrained Indicated Mineral Resources to 525,000 Ounces
10:23a ET January 11, 2008 (Business Wire)
Golden Star Resources Ltd. (AMEX: GSS) (TSX: GSC) ("Golden Star") today announced that it has received an updated resource model for the Bondaye and Tuapim deposits located in the Prestea South area of the Bogoso/Prestea concession approximately 20 kilometers south of the Bogoso processing plants. New drill results and the application of an amended resource model yielded a total of 525,000 ounces of gold in the Mineral Indicated Resource category. This corresponds to a net increase of 409,000 ounces of gold in unconstrained Indicated Mineral Resources.
Mitch Wasel, Golden Star's Vice President Exploration, commented that, "The increase in the unconstrained Indicated Mineral Resource and the overall grade of this material is expected to have a positive effect on our year-end Mineral Reserves for these two deposits. Our mining engineers are busy finalizing the economic open pit parameters and subsequent designs to determine the extent of the anticipated additions to the Mineral Reserves for inclusion in our Annual Mineral Reserve Statements, which are expected to be finalized in the first quarter of 2008."
BACKGROUND
The Bondaye and Tuapim deposits have been incorporated into our Prestea South Project which is currently being permitted. The permitting of this project is well advanced and we expect to receive environmental and mining licenses during 2008 in preparation for mining scheduled for 2009.
BONDAYE--TUAPIM DRILLING AND UNCONSTRAINED RESOURCE UPDATE Difference from 2004 2007 2004 to 2007 ---------------------------------------------------------------------- Indicated Tonnes Gold Grade Tonnes Gold Grade Tonnes Gold Grade (M) (g/t) (M) (g/t) (M) (g/t) ---------------------------------------------------------------------- Oxide 2.67 2.2 0.96 2.2 1.71 2.2 ---------------------------------------------------------------------- Transition 0.86 2.5 0.24 2.3 0.62 2.6 ---------------------------------------------------------------------- Fresh 2.96 2.8 0.39 2.5 2.57 2.8 ---------------------------------------------------------------------- Total Indicated 6.48 2.5 1.59 2.3 4.89 3.3 ---------------------------------------------------------------------- Differences in figures may be due to rounding error.
We expect to increase the Mineral Reserves at Bondaye and Tuapim, 1.6 million tonnes grading 2.7 g/t at December 2006, when we complete the open pit designs for the Mineral Resources update in the first quarter of 2008. We believe this can be accomplished due to the fact that a majority of the contained gold from the previously delineated Inferred Mineral Resources was converted into the Indicated Mineral Resource category. The October 2007 Mineral Resources have not been constrained within an economic pit shell but are based on cut off grades of 0.84 g/t, 1.28g/t, and 1.18 g/t for the oxide, transition and fresh material, respectively and assuming a $560 gold price and the 2006 year-end processing and mining cost estimates and recoveries. The November 2004 Mineral Resource estimate for Bondaye-Tuapim assumed a gold price of $430 per ounce and oxide, transition and sulfide average cut-off grades of 0.72 g/t, 1.27 g/t and 1.21 g/t, respectively. Mineral Resources calculated for our final year-end 2007 statements will be constrained by economic pit shells based on the same parameters as our Mineral Reserves using a gold price of $640 per ounce.
The Bondaye and Tuapim deposits occur along two mineralized structures located at the southern end of the Ashanti Trend. Tuapim occurs along the northeast-southwest trending Ashanti lineament while Bondaye parallels the Birimian Tarkwaian contact and strikes roughly north-south. Neither of these deposits has been extensively exploited via historical underground mining, unlike the adjacent Prestea mine. Both Bondaye and Tuapim exhibit widths and grades that, under current economic conditions, are likely to be amenable to both open pit underground mining.
The new drilling results utilized for the updated mineral resource estimates have increased the overall grade of the Indicated Mineral Resource from 2.27 g/t to 2.52 g/t. Significant drill intersections are summarized in the table below with the full details of the drill results and a location map provided on the Company's website at www.gsr.com.
Hole ID Easting Northing Elevation Azimuth Dip (m) (m) (m) (degrees) (degrees) ---------------------------------------------------------------------- BDYDD002 12438.9 5538.978 5155.165 70 -50 ---------------------------------------------------------------------- BDYDD004 12469.3 5530.373 5155.938 70 -50 ---------------------------------------------------------------------- BDYDD004 ---------------------------------------------------------------------- BDYDD004 ---------------------------------------------------------------------- BDYDD005 12435.2 5596.99 5154.877 70 -50 ---------------------------------------------------------------------- BDYDD008 12481.6 4925.995 5107.507 70 -50 ---------------------------------------------------------------------- BDYDD008 ---------------------------------------------------------------------- BDYDD008 ---------------------------------------------------------------------- BDYRC119 12400.9 5050.39 5137.917 70 -50 ---------------------------------------------------------------------- BDYRC119 ---------------------------------------------------------------------- BDYRC120 12423.2 5085.328 5143.707 70 -50 ---------------------------------------------------------------------- BDYRC120 ---------------------------------------------------------------------- BDYRC121 12458 5073.249 5141.826 70 -50 ---------------------------------------------------------------------- BDYRC122 12442.1 5040.93 5135.479 70 -50 ---------------------------------------------------------------------- BDYRC124 12444.7 5015.491 5129.821 70 -50 ---------------------------------------------------------------------- BDYRC129 12437.4 4959.692 5117.907 70 -50 ---------------------------------------------------------------------- BDYRC129 ---------------------------------------------------------------------- BDYRC131 12429.8 4930.295 5112.088 70 -50 ---------------------------------------------------------------------- BDYRC132 12456.4 4833.408 5122.98 70 -50 ---------------------------------------------------------------------- BDYRC135 12434.6 5566.274 5154.817 70 -50 ---------------------------------------------------------------------- BDYRC137 12518 5628.243 5154.097 70 -50 ---------------------------------------------------------------------- BDYRC138 12545.2 5557.438 5150.972 70 -50 ---------------------------------------------------------------------- BDYRC139 12509.8 5518.072 5154.557 70 -50 ---------------------------------------------------------------------- BDYRC140 12535 5500.839 5150.076 70 -50 ---------------------------------------------------------------------- BDYRC143 12544.8 5344.761 5160.595 70 -50 ---------------------------------------------------------------------- BDYRC145 12534.9 5447.606 5154.168 70 -50 ---------------------------------------------------------------------- BDYRC146 12515.1 5574.145 5154.124 70 -46 ---------------------------------------------------------------------- BDYRC147 12606.2 5260.698 5157.012 70 -50 ---------------------------------------------------------------------- Hole ID Easting Northing Elevation Azimuth Dip (m) (m) (m) (degrees) (degrees) ---------------------------------------------------------------------- ---------------------------------------------------------------------- BDYRC151 12464.8 4863.91 5117.93 70 -50 ---------------------------------------------------------------------- BDYRC151 ---------------------------------------------------------------------- BDYRC152 12358.9 5463.255 5145.989 70 -50 ---------------------------------------------------------------------- BDYRC152 ---------------------------------------------------------------------- BDYRC156 12386.1 4861.201 5124.511 70 -50 ---------------------------------------------------------------------- BDYRC156 ---------------------------------------------------------------------- BDYRC157 12508.7 4852.702 5113.073 70 -50 ---------------------------------------------------------------------- BDYRC157 ---------------------------------------------------------------------- BDYRC157 ---------------------------------------------------------------------- BDYRC160 12828.9 5315.283 5141.372 70 -50 ---------------------------------------------------------------------- BDYRC162 12865.5 5280.043 5143.436 70 -50 ---------------------------------------------------------------------- BDYRC166 13173.3 4882.132 5169.252 70 -50 ---------------------------------------------------------------------- BDYRC166 ---------------------------------------------------------------------- BDYRC167 13161.4 4824.501 5166.908 70 -50 ---------------------------------------------------------------------- BDYRC167 ---------------------------------------------------------------------- BDYRC176 12517.5 4909.042 5104.35 70 -50 ---------------------------------------------------------------------- BDYRC177 12454.9 4887.897 5109.901 70 -50 ---------------------------------------------------------------------- BDYRC177 ---------------------------------------------------------------------- TUPDD003 11275.8 4449.859 5068.545 90 -50 ---------------------------------------------------------------------- TUPDD004 11318.1 4474.637 5078.123 90 -50 ---------------------------------------------------------------------- TUPDD005 11240.6 4650.046 5111.871 90 -50 ---------------------------------------------------------------------- TUPDD006 11271.1 4625.301 5114.818 90 -50 ---------------------------------------------------------------------- TUPDD009 11322.5 4750.32 5079.967 90 -50 ---------------------------------------------------------------------- TUPDD010 11452.6 4900.204 5078 90 -50 ---------------------------------------------------------------------- TUPRC170 11297.3 3950.473 5088 90 -50 ---------------------------------------------------------------------- TUPRC172 11287.5 3925.261 5090.153 90 -50 ---------------------------------------------------------------------- TUPRC174 11083.3 3900.195 5085.024 90 -50 ---------------------------------------------------------------------- TUPRC177 11316.7 4500.368 5078.67 90 -50 ---------------------------------------------------------------------- TUPRC177 ---------------------------------------------------------------------- TUPRC177 ---------------------------------------------------------------------- TUPRC179 11136.2 3949.793 5091.767 90 -50 ---------------------------------------------------------------------- TUPRC188 11316.4 4675.303 5107.585 90 -50 ---------------------------------------------------------------------- TUPRC189 11309.7 4700.287 5097.95 90 -50 ---------------------------------------------------------------------- TUPRC190 11306.3 4725.36 5088.527 90 -50 ---------------------------------------------------------------------- TUPRC192 11389.5 4775.301 5066.339 90 -50 ---------------------------------------------------------------------- TUPRC193 11460.9 4800.11 5083.448 90 -50 ---------------------------------------------------------------------- TUPRC194 11478.7 4875.061 5086.916 90 -50 ---------------------------------------------------------------------- TUPRC195 11514.4 4927.08 5070.342 90 -50 ---------------------------------------------------------------------- TUPRC196 11494.1 4900.338 5078.164 90 -50 ---------------------------------------------------------------------- Hole ID Drill From To Drilled approx. True Grade Type (m) (m) Width Width Au (m) (m) (g/t) ---------------------------------------------------------------------- BDYDD002 RC 23 31 8.0 6.6 4.7 ---------------------------------------------------------------------- BDYDD004 RC 45 50 5.0 4.1 13.7 ---------------------------------------------------------------------- BDYDD004 42 52 10.0 9.7 7.7 ---------------------------------------------------------------------- BDYDD004 94 98 4.4 4.3 4.8 ---------------------------------------------------------------------- BDYDD005 DD 114 119 4.2 3.4 2.6 ---------------------------------------------------------------------- BDYDD008 RC 36 47 11.0 9.0 3.0 ---------------------------------------------------------------------- BDYDD008 67 72 5.0 4.8 26.8 ---------------------------------------------------------------------- BDYDD008 76 82 6.0 5.8 3.2 ---------------------------------------------------------------------- BDYRC119 RC 18 26 8.0 6.6 2.9 ---------------------------------------------------------------------- BDYRC119 57 63 6.0 5.8 2.7 ---------------------------------------------------------------------- BDYRC120 RC 54 57 3.0 2.5 26.6 ---------------------------------------------------------------------- BDYRC120 54 60 6.0 5.8 14.3 ---------------------------------------------------------------------- BDYRC121 RC 1 16 15.0 12.3 2.0 ---------------------------------------------------------------------- BDYRC122 RC 18 27 9.0 7.4 3.0 ---------------------------------------------------------------------- BDYRC124 RC 40 44 4.0 3.3 21.4 ---------------------------------------------------------------------- BDYRC129 RC 24 28 4.0 3.3 11.0 ---------------------------------------------------------------------- BDYRC129 42 50 8.0 7.7 10.8 ---------------------------------------------------------------------- BDYRC131 RC 84 112 28.0 22.9 4.2 ---------------------------------------------------------------------- BDYRC132 RC 40 48 8.0 6.6 3.4 ---------------------------------------------------------------------- BDYRC135 RC 80 85 5.0 4.1 9.3 ---------------------------------------------------------------------- BDYRC137 RC 35 43 8.0 6.6 2.9 ---------------------------------------------------------------------- BDYRC138 RC 25 29 4.0 3.3 4.0 ---------------------------------------------------------------------- BDYRC139 RC 42 49 7.0 5.7 2.5 ---------------------------------------------------------------------- BDYRC140 RC 12 38 26.0 21.3 2.6 ---------------------------------------------------------------------- BDYRC143 RC 47 54 7.0 5.7 3.1 ---------------------------------------------------------------------- BDYRC145 RC 2 16 14.0 11.5 2.4 ---------------------------------------------------------------------- BDYRC146 RC 19 22 3.0 2.6 6.4 ---------------------------------------------------------------------- BDYRC147 RC 52 58 6.0 4.9 9.4 ---------------------------------------------------------------------- Hole ID Drill From To Drilled approx. True Grade Type (m) (m) Width Width Au (m) (m) (g/t) ---------------------------------------------------------------------- ---------------------------------------------------------------------- BDYRC151 RC 0 10 10.0 8.2 7.7 ---------------------------------------------------------------------- BDYRC151 48 62 14.0 13.5 2.0 ---------------------------------------------------------------------- BDYRC152 RC 67 70 3.0 2.5 36.7 ---------------------------------------------------------------------- BDYRC152 60 71 11.0 10.6 11.0 ---------------------------------------------------------------------- BDYRC156 RC 53 58 5.0 4.1 3.4 ---------------------------------------------------------------------- BDYRC156 67 93 26.0 25.1 2.8 ---------------------------------------------------------------------- BDYRC157 RC 17 33 16.0 13.1 2.9 ---------------------------------------------------------------------- BDYRC157 71 83 12.0 11.6 6.0 ---------------------------------------------------------------------- BDYRC157 52 83 31.0 29.9 4.3 ---------------------------------------------------------------------- BDYRC160 RC 76 79 3.0 2.5 4.4 ---------------------------------------------------------------------- BDYRC162 RC 5 12 7.0 5.7 22.8 ---------------------------------------------------------------------- BDYRC166 RC 27 35 8.0 6.6 13.7 ---------------------------------------------------------------------- BDYRC166 25 42 17.0 16.4 8.0 ---------------------------------------------------------------------- BDYRC167 RC 59 64 5.0 4.1 6.5 ---------------------------------------------------------------------- BDYRC167 56 71 15.0 14.5 4.1 ---------------------------------------------------------------------- BDYRC176 RC 7 19 12.0 9.8 2.9 ---------------------------------------------------------------------- BDYRC177 RC 54 59 5.0 4.1 6.7 ---------------------------------------------------------------------- BDYRC177 66 81 15.0 14.5 3.2 ---------------------------------------------------------------------- TUPDD003 RC 65 74 9.0 7.4 2.5 ---------------------------------------------------------------------- TUPDD004 RC 77 81 4.0 3.3 11.1 ---------------------------------------------------------------------- TUPDD005 DD 141 148 6.8 5.6 3.0 ---------------------------------------------------------------------- TUPDD006 DD 100 105 4.7 3.9 3.4 ---------------------------------------------------------------------- TUPDD009 DD 108 130 21.8 17.9 2.1 ---------------------------------------------------------------------- TUPDD010 DD 105 108 3.8 3.1 4.7 ---------------------------------------------------------------------- TUPRC170 RC 54 59 5.0 4.1 4.5 ---------------------------------------------------------------------- TUPRC172 RC 71 76 5.0 4.1 9.4 ---------------------------------------------------------------------- TUPRC174 RC 51 55 4.0 3.3 3.8 ---------------------------------------------------------------------- TUPRC177 RC 33 38 5.0 4.1 5.0 ---------------------------------------------------------------------- TUPRC177 54 59 5.0 4.8 4.5 ---------------------------------------------------------------------- TUPRC177 79 82 3.0 2.9 6.1 ---------------------------------------------------------------------- TUPRC179 RC 21 38 17.0 13.9 2.0 ---------------------------------------------------------------------- TUPRC188 RC 82 89 7.0 5.7 2.7 ---------------------------------------------------------------------- TUPRC189 RC 83 96 13.0 10.6 2.4 ---------------------------------------------------------------------- TUPRC190 RC 75 108 33.0 27.0 3.0 ---------------------------------------------------------------------- TUPRC192 RC 36 67 31.0 25.4 2.1 ---------------------------------------------------------------------- TUPRC193 RC 75 78 3.0 2.5 7.1 ---------------------------------------------------------------------- TUPRC194 RC 63 73 10.0 8.2 2.9 ---------------------------------------------------------------------- TUPRC195 RC 30 36 6.0 4.9 4.5 ---------------------------------------------------------------------- TUPRC196 RC 54 62 8.0 6.6 3.5 ----------------------------------------------------------------------
QA-QC
The technical information set forth in this press release has been prepared under the supervision of, and the contents of this press release have been reviewed by Mr. S. Mitchel Wasel, BSc Geology, a Qualified Person pursuant to National Instrument 43-101 of the Canadian Securities Administration. Mr. Wasel is Vice President Exploration for Golden Star and an active member of the Australasian Institute of Mining and Metallurgy.
The results quoted herein are based on the analysis of saw-split HQ/NQ diamond half core or a three kilogram single stage riffle split of a nominal 25 to 30 kilogram Reverse Circulation chip sample which has been sampled over nominal one-meter intervals (adjusted where necessary for mineralized structures). Sample preparation and analyses have been carried out at Transworld Laboratories in Tarkwa using a 50 gram assay charge with a flame Atomic Absorption Spectrophotometry (AAS) finish and a detection limit of 0.01 ppm. All analytical work is subject to a systematic and rigorous Quality Assurance-Quality Control (QA-QC). At least 5% of samples are certified standards and the accuracy of the analysis is confirmed to be acceptable from comparison of the recommended and actual 'standards' results. The remaining half core is stored on site for future inspection and detailed logging, to provide information on mineralogy, structure, alteration patterns and the controls on gold mineralization.
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 open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 233 million shares outstanding.
Cautionary Note to US Investors concerning estimates of Measured, Indicated and Inferred Mineral Resources: US investors are advised that while the term "Measured, Indicated and Inferred Mineral Resources" are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules estimates of Inferred Mineral Resources could not form the basis of feasibility or other economic studies. US investors are cautioned not to assume that part or all of the Inferred Mineral Resource exists, or is economically or legally mineable.
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding: the timing and results of future drilling and development activities and the ability to convert Inferred Mineral Resources to Indicated Mineral Resources and the possible subsequent conversion to Mineral Reserves, the results of completion of pit parameters and designs, the effect of the increase in Indicated Mineral Resources on year-end mineral reserves; the timing of annual reserve statements; the timing for the receipt of environmental and mining licenses; increases in mineral reserves at Bondaye and Tuapim; and the potential methods of mining at Bondaye and Tuapim. Factors that could cause actual results to differ materially include timing of and unexpected events during exploration, development and construction; variations in ore grade; variations in relative amounts of refractory, non-refractory and transition ores; technical or permitting issues, and fluctuations in gold price and costs. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Form 10-K for 2006, as amended.
For further information, please contact: GOLDEN STAR RESOURCES LTD. +1 800 553 8436 Bruce Higson-Smith, Vice President Corporate Development Anne Hite, Investor Relations Manager
SOURCE: Golden Star Resources Ltd.
Golden Star Resources Ltd. Bruce Higson-Smith, Vice President Corporate Development +1-800-553-8436 Anne Hite, Investor Relations Manager +1-800-553-8436
Short Squeeze? Data from Buyins.net
Fed cuts rates = Gold goes higher = GSS goes higher = Money :)
I agree :)
Looking good today hope it holds.
Closed at 3.54 today.
I would like to see this run hard eod to 3.60
Analyst upgrade could be coming soon for gss. Check out the other gold stock upgrades today http://briefing.com/Investor/Public/Calendars/UpgradesDowngrades.htm
Getting hit hard premarket
Hoping to get above and close above 3.51 today. Gold continues to surge.
One hour and eight minutes left for trading lets close at a new HOD.
Sounds good. Gold continuing to increase and a potential short squeeze.
IMO Gold and Silver are up so big today tomorrow they will probably pull back. In a couple of days IMO you can probably pick up CDE at around 4.50 or lower it gone up almost 1.00 since 24 Dec.
BUYINS.NET Squeeze Trigger Price 4.80
BUYINS.NET Short Squeeze trigger price 3.24
gss looking good