Golden Star Resources Ltd (GSS)

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GSS posted super financials NET PROFIT increased!

https://www.prnewswire.com/news-releases/golden-star-reports-fourth-quarter-and-full-year-2017-results-674632483.html


Golden Star Reports Fourth Quarter and Full Year 2017 Results

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Golden Star Resources Ltd.

Feb 20, 2018, 17:03 ET

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Net income per share attributable to Golden Star shareholders - basic of $0.10 in FY 2017

TORONTO, Feb. 20, 2018 /PRNewswire/ - Golden Star Resources Ltd. (NYSE American Exchange: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the "Company") reports its financial and operational results for the fourth quarter and full year ("FY") ended December 31, 2017.

HIGHLIGHTS:

FY 2017

FY 2017 consolidated guidance achieved or outperformed on all metrics of gold production, cash operating cost per ounce1, All-In Sustaining Cost ("AISC") per ounce1 and capital expenditures
38% increase in consolidated gold production in FY 2017 to 267,565 ounces compared to FY 2016
Consolidated cash operating cost per ounce1 and AISC per ounce1 in FY 2017 below the bottom end of the respective guidance ranges
13% decrease in cash operating cost per ounce1 to $763 compared to FY 2016
14% decrease in AISC1 per ounce to $944 compared to FY 2016
Capital expenditures of $69.6 million in FY 2017, with 57% representing development capital primarily for the advancement of the Prestea Underground Gold Mine ("Prestea Underground")
Post-period end, commercial production was achieved at Prestea Underground on February 1, 2018
108% increase in mine operating margin1 to $57.2 million in FY 2017 compared to FY 2016 due to a significant increase in revenues and a decrease in the Company's cost structure
4% increase in cash generated by operations in FY 2017 to $55.2 million ($0.15 per share - basic) compared to FY 2016
Net income attributable to Golden Star shareholders of $38.8 million ($0.10 income per share) in FY 2017 compared to a net loss of $39.6 million ($0.13 loss per share) in FY 2016
Consolidated cash balance of $27.8 million as at December 31, 2017

Fourth Quarter of 2017

34% increase in consolidated gold production in the fourth quarter of 2017 to 71,769 ounces compared to the fourth quarter of 2016
8% decrease in cash operating cost per ounce1 in the fourth quarter of 2017 to $812 compared to the fourth quarter of 2016
16% decrease in AISC per ounce1 in the fourth quarter of 2017 to $1,002 compared to the fourth quarter of 2016
Golden Star named the winner of the Prospectors and Developers Association of Canada ("PDAC") 2018 Award for Environmental and Social Responsibility