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Gold up 10.00! GSS has been disappointing only up .03 in midday trading.
Metals - Gold hits fresh 1-month high as Bhutto's death sparks jitters| 27 Dec 2007 | 09:12 AM ET Font size: LONDON (Thomson Financial) - Gold hit a fresh one month high as geopolitical jitters, stoked by the killing of Pakistan's opposition leader Benazir Bhutto, sparked buying.
The precious metal is traditionally bought in times of geopolitical nervousness as a safe haven asset.
Kitco analyst Jon Nadler said that "anytime anyone gets killed like that, it's pretty bad for the global jitters".
Pakistan opposition leader Benazir Bhutto was killed today in a suicide attack at a campaign rally, the interior ministry told AFP. A suicide bomber blew himself up just after the rally and it was not immediately clear how she died.
Gold rose to 830.40 usd an ounce, its highest value since Nov 27, as the news hit the wires.
At 1.55 pm, spot gold was trading up at 829.58 usd per ounce against 825.50 usd in late New York trades yesterday.
anealla.safdar@thomson.com as/sal COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Midday trading gold up 11.00
Yep,we need a painter. Anyone?
Gold trading higher today up 2.00 to 817.
Come on GSS I'm looking for a run eod don't disappoint.
News from Oct 24, 2007, but has to do with lattest Sec. filings
October 24, 2007 09:27 AM Eastern Time
Golden Star Announces Pricing of $125 Million Convertible Senior Unsecured Debentures
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX: GSS)(TSX: GSC) (“Golden Star”) today announced the pricing of its offering of US$125 million Convertible Senior Unsecured Debentures due November 30, 2012 (the "Debentures"), which are anticipated to be sold, subject to market and other conditions, to qualified institutional buyers in the United States, with sales in the U.S. being made in reliance on Rule 144A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and on a private placement basis in Canada to accredited investors and in reliance on Regulation S under the Securities Act. The sale of the Debentures is expected to close on or about November 8, 2007, subject to the satisfaction of certain closing conditions and any necessary regulatory approvals.
The Debentures are being offered and sold at their stated principal amount (US$1,000 per Debenture) and will bear interest at a rate of 4.0% per annum, payable semi-annually in arrears on May 31 and November 30 of each year, beginning May 31, 2008 and continuing until maturity. Each Debenture is, subject to certain limitations, convertible into Golden Star common shares at a conversion rate of 200.0 shares per US$1,000 principal amount of notes (equal to an initial conversion price of approximately US$5.00 per share), or approximately 31% above the closing price of Golden Star’s common shares on the AMEX on October 23, 2007, subject to adjustment in certain circumstances. The Debentures are not redeemable at the option of Golden Star.
On maturity, Golden Star may, at its option, satisfy its repayment obligation by paying the principal amount of the Debentures in cash or, subject to certain limitations, by issuing that number of its common shares obtained by dividing the principal amount of the Debentures outstanding by 95% of the weighted average trading price of its common shares on the American Stock Exchange for the 20 consecutive trading days ending five trading days preceding the maturity date (the "Market Price"). If Golden Star elects to repay the principal amount of the Debentures at maturity by issuing common shares, but is limited under the terms of the Debentures from issuing a number of common shares sufficient to fully repay the Debentures outstanding at maturity, it will pay the balance owing in cash, based on the difference between the principal amount of the Debentures outstanding and the value of the common shares (based on the Market Price) delivered in repayment of the Debentures, if any.
Upon the occurrence of certain change in control transactions, holders may require Golden Star to purchase the Debentures for cash at a price equal to 101% of the principal amount plus accrued and unpaid interest. If 10% or more of the fair market value of any such change in control transaction consists of cash, the holders may convert their Debentures and receive a number of additional common shares (determined by reference to the date of the conversion and the market price of Golden Star's common shares) in addition to the common shares otherwise issuable upon conversion.
Golden Star intends to use US$61.76 million of the net proceeds of the offering to repay its existing $50 million aggregate principal amount 6.85% senior convertible notes due April 15, 2009, and the balance for property development and for general corporate purposes.
The Debentures will be direct senior unsecured indebtedness of Golden Star, ranking equally and ratably with all other senior unsecured indebtedness, and senior to all subordinated indebtedness, of Golden Star. None of Golden Star’s subsidiaries will guarantee the Debentures. The Debentures will not limit the amount of debt that Golden Star or its subsidiaries may incur.
This announcement does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities. The Debentures, and the common shares issuable upon conversion of the Debentures, have not been registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration under, or an applicable exemption from, the registration requirements of the Securities Act, and will be subject to resale restrictions in Canada.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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 other applicable 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, including comments regarding the expectation that the offering will be completed consistent with the terms outlined above, the anticipated closing date of the offering and the use of proceeds from the offering. Actual results may differ materially from those presented. Factors that could cause results to differ materially include fluctuations in gold price, changes in U.S. and Canadian securities markets and failure to receive regulatory approvals. Golden Star assumes no obligation to update this information. There can be no assurance that future developments affecting Golden Star will be those anticipated by management. Please refer to the discussion of risk factors in our Form 10-K for the year ended December 31, 2006, as amended.
Contacts
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
Great News!!!
Latest Sec filings. A lot of insiders buying call options betting on the stock going higher. Check it out. I bet this is the reason for the big eod run.
http://sec.gov/cgi-bin/browse-edgar?company=&CIK=gss&filenum=&State=&SIC=&owner=include&action=getcompany
I just got back. What the hell did I miss. Great close!!
GSS going strong today. Nice to see.
I'm not sure how, but you might have to have a pay subscription.
Inflation up + dollar down = Gold moving much higher!! :)
Gold is surging today up 11.00 to 814
I don't know if he's the guiding force behind GSS offering stock on the African market, but I do agree with you that a new CEO might be good for the company. I think Wallstreet will see this as a good thing as well. IMO
News Out!!
Golden Star Appoints Interim President and CEO
4:01p ET December 20, 2007 (Business Wire)
Golden Star Resources Ltd. (AMEX: GSS) (TSX: GSC) ("Golden Star" or the "Company") today announced that Mr. Tom Mair has been appointed Interim President and CEO effective January 1, 2008, at which time Mr. Peter Bradford will be stepping down as President and CEO of the Company.
Mr. Mair has more than 25 years of international business experience in the natural resources industries. Prior to joining Golden Star as Chief Financial Officer in February of this year, Mr. Mair was employed by Newmont Mining Corporation in a number of key roles, including Director, Business Process Improvement; group financial executive at Minera Yanacocha, Peru; Regional Controller Winnemucca, Nevada and President-Director PT Newmont Minahasa Raya, Indonesia.
"Tom has played an integral role in consolidating and strengthening the Company's financial systems and overall financial health," says Mr. Ian MacGregor, Chairman of Golden Star's Board of Directors. "Likewise, his membership on our Executive Management Team to help steer the overall direction of the organization has provided him with the solid foundation needed to step into his new role."
As he takes on the Interim CEO title, Tom will temporarily relinquish his CFO and Corporate Secretary positions. Mr. Roger Palmer, currently Vice-President, Finance and Controller for Golden Star, has been named Interim CFO and Compliance Officer, and Mr. Bryant Veazey, Treasurer for Golden Star, has been named Interim Corporate Secretary.
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 of the resignation of the incumbent President and CEO and the timing of the appointment of the interim President and CEO and Interim Chief Financial Officer. 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.
SOURCE: Golden Star Resources Ltd.
Bigdogs,
Care to share what you have heard? TIA
Gold and Silver commodities are looking good this morning. Should be an up day for GSS :)
Did you pick up any? It hit your entry point today.
What Makes Golden Star an Explosive Gold Stock for 2008?
Good read check it out.
http://seekingalpha.com/article/56770-what-makes-golden-star-an-explosive-gold-stock-for-2008?source=d_email
I don't have a full membership either.
Let NYBob know so he can add it to the inbox. The link is very useful thanks.
New Board!!
Golden Star Resources (GSS), check it out
http://investorshub.advfn.com/boards/board.asp?board_id=11433
Help spread the word around
Yep, with inflation looming gold should be moving higher:)
Help spread the word around about the new board. The board needs to become more active.
Nice looking chart moving off a double bottom
Golden Star Confirms Extensions to Benso Gold Deposit
Friday December 7, 9:12 am ET
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX:GSS - News) (TSX:GSC - News) (“Golden Star”) today provided an update on the continuing exploration of its Benso concession in Ghana.
ADVERTISEMENT
Results received from the 3,418 meters of combined Reverse Circulation (“RC”) and Diamond Drilling (“DD”) have been positive and Golden Star expects that a portion of the Inferred Mineral Resource below the current pit designs will be converted into Indicated Mineral Resources and may subsequently be converted into Mineral Reserves.
Mitch Wasel, Golden Star’s Vice President Exploration, commented that, “The high grade shoot drilled at Subriso West exhibits grades and thicknesses that will likely deepen the existing $480 per ounce pit designs and could conceivably be mined underground. Therefore, in our efforts to enhance shareholder value, the drilling of the down dip extensions of this zone is a priority for Golden Star in 2008, which will help us to understand the full potential of the Benso deposits. This work is expected to be done in the second quarter of 2008, or possibly earlier depending on drill rig availability.”
BACKGROUND
The Benso concessions form part of the Hwini-Butre and Benso project, which is currently being developed as a source of high grade ore for the Wassa processing plant. Development of the haul road to connect the Benso concession to the Wassa processing plant commenced in October 2007 following the receipt of the necessary environmental permits. The haul road and modifications to the Wassa processing plant are expected to be completed by the third quarter of 2008. The total cost of the project, including the cost of mining equipment, is expected to be $50 million and the first ore is expected to be mined at Benso and hauled to the Wassa processing plant in the third quarter of 2008. Mining at Hwini-Butre is expected to commence in 2009.
We previously estimated a total Probable Mineral Reserve for the Hwini-Butre and Benso project within $480 per ounce pit designs of 4.13 million tonnes grading 4.35 g/t for contained gold of 577,000 ounces, of which 2.30 million tonnes grading 3.41 g/t containing 252,000 ounces were contained within pits on the Benso concession. In addition to the Mineral Reserves at Benso, 0.41 million tonnes grading 2.47 g/t of Indicated Mineral Resource and 0.61 million tonnes grading 3.41 g/t of Inferred Mineral Resource were contained within the $560 per ounce Inferred Mineral Resource optimized pit shell.
BENSO DRILLING PROGRAM
The drilling at Benso was designed to test the $560 per ounce Inferred Mineral Resource optimized pit shells with the aim of converting this material into Measured and Indicated Mineral Resources and hence possible conversion into Mineral Reserves. Results received from the combined RC and DD programs have been positive and Golden Star expects the conversion of a portion of this tested Inferred Mineral Resource into Indicated Mineral Resources for subsequent possible conversion into Mineral Reserves.
The completed drilling program included 40 drill holes totaling 1,850 meters of RC drilling and 1,568 meters of DD drilling. The Subriso West pit shows the best potential for expansion with the majority of the drilling intersecting mineralized widths and grades that will likely have a positive affect on our next optimized pit shells. Of note, hole SWRC006, which is located on the southern end of the pit, drill intersected 5 meters grading 116 g/t gold, and hole SWZDD008, located 50 meters north of hole SWRC006, drill intersected 19 meters grading 2.3 g/t. Significant intersections are detailed in the table below.
Hole ID
Section
East
(m)
North
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Drill
Type
From
(m)
To
(m)
Interval
(m)(1)
Grade
(Au g/t)
SEZRC071 58300N 176752 58300 59 90 -50 RC No significant intersections
SEZRC072 58300N 176781 58300 60 90 -50 RC No significant intersections
SEZRC073 58250N 176779 58250 64 90 -50 RC 35 40 5 1.8
SEZRC074 58250N 176807 58250 65 90 -50 RC 13 18 8 1.2
SEZRC075 57475N 176721 57475 59 90 -50 RC 7 9 2 1.1
SEZRC076 57475N 176674 57475 61 90 -50 RC 53 55 2 2.0
SEZRC077 57525N 176724 57525 68 90 -50 RC 5 8 3 5.9
SEZRC078 57525N 176682 57525 70 90 -50 RC No significant intersections
SEZRC079 57575N 176750 57575 75 90 -50 RC No significant intersections
SEZRC080 57575N 176713 57575 78 90 -50 RC No significant intersections
SEZRC081 58025N 176579 58025 72 90 -50 RC No significant intersections
SEZDD006 58225N 176741 58225 61 90 -50 No significant intersections
SEZDD007 58250N 176744 58250 61 90 -50 54 58 4 1.8
SEZDD008 58275N 176730 58275 59 90 -50 No significant intersections
SWZRC005 12SW 175318 58553 62 40 -50 RC 20 23 3 1.3
SWZRC006 13SW 175272 58537 59 40 -50 RC
RC
80
102
83
107
3
5
5.6
116.1
SWZRC007 14SW 175251 58551 57 40 -50 DD 98 114 16 1.7
SWZRC008 15SW 175228 58563 56 40 -50 DD 122 141 19 2.3
SWZRC009 17SW 175213 58623 58 40 -50 DD 124 134 10 2.4
SWZRC010 17SW 175151 58549 68 40 -50 DD
DD
220
234
223
240
3
6
2.1
1.0
SWZRC011 19SW 175160 58638 66 40 -50 DD 131 138 6 3.7
SWZRC012 20SW 175119 58628 65 40 -50 DD
DD
DD
175
213
234
180
218
238
5
5
4
3.3
1.9
1.4
SWZRC013A 18SW 175140 58583 66 40 -50 DD 218 224 6 8.2
SWZRC014 19SW 175111 58579 69 40 -50 DD 279 282 3 1.7
SWZRC015 22SW 175090 58671 60 40 -50 DD
DD
DD
161
202
220
164
207
223
3
5
3
1.4
1.7
1.5
SWZRC016 23SW 175090 58710 56 40 -50 DD
DD
DD
Including
DD
DD
126
140
167
168
196
207
129
148
186
175
200
217
3
8
19
7
4
10
2.8
1.6
3.6
6.5
1.9
3.1
SWZRC017 15SW 175187 58514 59 40 -50 DD 203 211 7 2.6
SWZRC018 12SW 175281 58510 171 40 -50 DD No significant intersections
SGZRC020 58250N 174759 58257 58 90 -50 RC
RC
81
92
86
95
5
3
1.1
1.7
SGZRC021 58650N 174532 58652 54 90 -50 RC No significant intersections
SGZRC022 58450N 174691 58450 62 90 -50 RC 79 83 4 1.0
SGZRC023 19SW 174943 58379 64 40 -50 RC No significant intersections
SGZRC024 18SW 174974 58378 65 40 -50 RC Assays pending
SGZRC025 17SW 175009 58381 64 40 -50 RC No significant intersections
SGZRC026 17SW 175028 58404 65 40 -50 RC No significant intersections
SGZRC027 58600N 174559 58600 54 90 -50 RC 106 108 2 1.4
SGZRC028 58550N 174673 58550 54 90 -50 RC 26 30 4 5.8
SGZDD010 58500N 174577 58500 70 90 -50 DD 170 182 12 1.3
SGZDD011 58200N 174766 58200 56 90 -50 RC 105 118 13 2.2
SGZDD012 58600N 174507 58600 61 90 -50 DD
DD
170
181
176
187
6
6
2.4
1.4
(1) Drill intervals do not represent true widths.
Hole SWZDD016, located at the north end of the Subriso West pit and below the current $560 per ounce Inferred Mineral Resource pit shell, is of particular interest since it has intersected several zones of potentially economic gold mineralization at depth, including a drilled width of 19 meters grading 3.6 g/t with a central core of 7 meters grading 6.5 g/t. This zone was intersected at a vertical depth of 145 meters demonstrating that the high grade mineralization continues at depth and may therefore support deepening of the current pit design. Further extensions at depth of the high grade zone may potentially support underground mining.
The Subriso West high grade shoot has been intersected in previous drilling. Including holes SJB-120 and SJB-99, located on the same section as SWZDD016 and 40 meters up dip, which intersected 11 meters grading 5.6 g/t and 4 meters grading 4.7 g/t respectively. Hole SJB-91, further up dip, intersected 7 meters grading 7.3 g/t and hole SJB-62, approximately 80 meters up dip from hole SWZDD016 drill intersected 6 meters grading 148.9 g/t. On the next section, 25 meters to the north, the high grade zone has not been extensively tested down dip with results from previously reported drilling contained within the current $480 pit design returning widths and grades similar to those described above, including hole SJB-63, which drill intersected 6 meters grading 23.5 g/t, hole SJB-92 located 25 meters down dip, which intersected 3 meters grading 10.9 g/t, and hole SJB-93, located another 25 meters further down dip which drill intersected 5 meters grading 13.6 g/t. Full details on this past work are set out in the following table.
Benso Subriso West Deposit Previously Released Drill Hole Intersects
Hole ID
Section
East
(m)
North
(m)
Elevation
(m)
Azimuth
(°)
Dip
(°)
Drill
Type
From
(m)
To
(m)
Interval
(m)(1)
Grade
(Au
g/t)
BEGT08(2) 23SW 175120 58764 54 40 -45 DD 90 98 8 5.7
SJB-109 25SW 175108 58801 54 40 -70 RC 140 144 4 4.7
SJB-110
SJB-110
25SW
25SW
175073
175073
58765
58765
54
54
40
40
-60
-60
RC
RC
109
191
112
195
3
4
104.9
4.5
SJB-119
SJB-119
24SW
24SW
175075
175075
58731
58731
54
54
40
40
-45
-45
RC
RC
130
172
133
180
3
8
6.9
2.1
SJB-120
SJB-120
SJB-120
23SW
23SW
23SW
175106
175106
175106
58733
58733
58733
55
55
55
40
40
40
-45
-45
-45
RC
RC
RC
85
123
136
87
127
147
2
4
11
7.4
7.4
5.6
SJB-62
SJB-62
23SW
23SW
175143
175143
58767
58767
55
55
40
40
-45
-45
RC
RC
70
80
76
82
6
2
148.9
9.4
SJB-63 24SW 175127 58786 54 40 -45 RC 66 72 6 23.5
SJB-92 24SW 175110 58769 54 40 -45 RC 99 102 3 10.9
SJB-93 24SW 175092 58749 54 40 -45 RC 141 146 5 13.6
SJB-99 23SW 175107 58731 55 40 -45 RC 133 137 4 4.7
SJB-91 23SW 175125 58748 54 40 -45 RC 105 112 7 7.3
(1) Drill intervals do not represent true widths.
(2) BEGT08 is a Geotech hole that has not been previously released.
VERIFICATION AND QA-QC
The technical contents of this press release have been reviewed and verified 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 SGS Laboratories in Tarkwa using a 1,000 gram slurry of sample and tap water which is prepared and subjected to an accelerated cyanide leach (LEACHWELL). The sample is then rolled for twelve hours before being allowed to settle. An aliquot of solution is then taken, gold extracted into Di-iso Butyl Keytone (DiBK), and determined by flame Atomic Absorption Spectrophotometry (AAS). Detection Limit is 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 valuable 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 timing for the completion of the haul road from Benso to Wassa; the timing for the commencement of mining at Benso and haulage of ore from Benso to Wassa; and the timing for the commencement of mining at Hwini-Butre; future operations and development at the Hwini-Butre and Benso properties and total cost of the Hwini-Butre and Benso project. 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.
Contact:
GOLDEN STAR RESOURCES LTD.
Bruce Higson-Smith, +1 800-553-8436
Vice President Corporate Development
Anne Hite, +1 800-553-8436
Investor Relations Manager
--------------------------------------------------------------------------------
Source: Golden Star Resources Ltd.
Golden Star Completes Approvals for Ghana Stock Exchange Listing
Thursday December 6, 10:30 am ET
Appoints New General Manager at Bogoso/Prestea
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX: GSS - News)(TSX: GSC - News) (“Golden Star”) today announced that it had completed the necessary approvals to commence its offer to list shares on the Ghana Stock Exchange. Golden Star also announced the appointment of Mr. Nigel Tamlyn as General Manager of its Bogoso/Prestea mine.
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GHANA LISTING
Golden Star is pleased to announce that it has received all approvals necessary to list its shares on the Ghana Stock Exchange and has launched the formal offer for the sale of 3,170,000 shares at a price of 3 Cedis per share to the Ghana investing public. The offer is expected to close on December 21, 2007 and the shares are expected to commence trading on the Ghana Stock Exchange on January 14, 2008. A copy of the prospectus can be obtained from Strategic African Securities, the Lead Manager of the Offer.
APPOINTMENT OF GENERAL MANAGER FOR BOGOSO/PRESTEA
Mr. Nigel Tamlyn has been appointed as General Manager for the Bogoso/Prestea mine and assumed his responsibilities on December 3, 2007. Mr. Tamlyn has a Masters Degree in Mining specializing in Mineral Economics, and has broad production and senior management experience in the gold and minerals industry in South Africa, Ireland, Philippines, Ethiopia and Vietnam. Mr. Tamlyn replaces Mr. Colin Belshaw who resigned the position as of the same date.
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 intention to list its shares on the Ghana Stock Exchange, proposed offering in Ghana, and the steps to be taken to ensure common shares are tradable on all three 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 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.
Contact:
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
--------------------------------------------------------------------------------
Source: Golden Star Resources Ltd.
Golden Star Completes EURO Ressources Transactions
Wednesday December 5, 1:16 pm ET
DENVER--(BUSINESS WIRE)--Golden Star Resources Ltd. (AMEX: GSS - News)(TSX: GSC - News) (“Golden Star”) today announced that it has completed two transactions with EURO Ressources SA for net proceeds to Golden Star of $8.1 million.
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Golden Star has completed two transactions with EURO Ressources SA (“EURO”), which were previously announced on March 27, 2007. The completion of the sale of the Gross Rosebel Additional Participation Right to EURO for $4.4 million and the payment by EURO of approximately $3.7 million of debt and interest owed to Golden Star are expected to contribute approximately $8.1 million of cashflow and, of which, $7.4 million will be pre-tax earnings in the fourth quarter. Golden Star continues to hold approximately 1.4 million shares of EURO which equates to an interest of approximately 2% of EURO’s outstanding shares. EURO’s financial statements, specifically its hedge book, are not consolidated in the Golden Star financial statements.
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. 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 for 2006.
Contact:
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
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Source: Golden Star Resources Ltd.
Short Squeeze!! Buyins.net squeeze trigger price is 3.22
The company feels their stock is undervalued. Insiders are buying hand over fist. See attached link
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gss
Hi NYBob
Can you change the title to "Golden Star Resource (GSS)". The board might get more action this way. Thanks
FWIW insiders are buying check out the link.
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=gss
I see know reason for the big sell off. Could be MM games. I am expecting a bounce after fed decision.
Looks good to me.
NEWS OUT!!
China 3C Group Acquires Exclusive Selling Rights to Meizu Products in Two Major Retail Chains
Tuesday December 11, 8:02 am ET
ZHEJIANG PROVINCE, China, Dec. 11 /PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG - News), a retailer and distributor of consumer and business products in China, announced today it had acquired exclusive selling rights to all Meizu products in two major retail chains in Eastern China.
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Meizu is a manufacturer of portable multimedia electronics in China, such as MP3 players. In recent years, it has developed the reputation for its innovative products, with a large and loyal following of buyers in China.
The agreement provides for a one year right to act as a reseller for two retail chains in Eastern China: Hymall, a retail chain owned by Tesco, one of the world's largest retailers, and Auchan, a major French retail chain with a large presence in China.
China 3C CEO Wang said, "We are very pleased with this opportunity to sell Meizu products. Meizu is a leader in portable multimedia devices, and China 3C is a leader in electronics retailing. We believe that agreements such as this show that our company is increasingly seen by electronics manufacturers as a reliable retail channel to use when selling products in China."
The agreement is for one year and is renewable annually.
About China 3C
China 3C is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com.
A profile for investors can be accessed at http://www.hawkassociates.com/chcgprofile.aspx. For investor relations information regarding China 3C, contact Frank Hawkins or Ken AuYeung, Hawk Associates, at 305-451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com. To receive free e-mail notification of future releases for China 3C, sign up at http://www.hawkassociates.com/email.aspx.
Forward-looking Statements:
Certain of the statements set forth in this press release constitute "Forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We have included and from time to time may make in our public filings, press releases or other public statements, certain forward-looking statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of our Annual Report on Form 10-K. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" or words or expressions of similar meaning. You are cautioned not to place undue reliance on these forward- looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control. There can be no assurance that such forward-looking statements will prove to be accurate and China 3C Group undertakes no obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements.
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Source: China 3C Group
Wahoo a trade now my 17 shares are worth $4.08. Thanks Don you bast***.
I have TD Ameritrade and they charged me a reorganization fee of $20 for the split. Did this happen to anyone else with Ameritrade? Is this fee new? I will contact Ameritrade and see what they say.
Mini eod run.I like it. BOOYAAH!!!
I would like to see an eod run!!
Can someone explain this?
12.06.07IFGX Shells Vs. Reverse Merger With EspritPosted in Uncategorized at 7:12 pm by mel
QUESTION:
Why didn’t Esprit use one of the existing shells in the IFGX division to complete the reverse merger with Good Life?
RESPONSE:
This is an excellent question. Management considered this option at length, but felt that structuring the deal in this manner provided much greater value for Esprit shareholders. Esprit shareholders will participate directly in the growth of Good Life, and their existing share of EFGO will not change. In other words, in addition to your current share holdings, you will receive additional stock in the new Good Life fully reporting Pink Sheet Company.
Are we going to keep our efgo shares plus get the exact number of shares in the new company?