Gold Exploration in West Africa

[FL]

Golden Star (GSS,GSC.TO) seeks Ghana Stock Exchange listing

(Note: AngloGold Ashanti is, technically at least, traded on the Ghana Stock Exchange http://www.gse.com.gh/, but this is really a matter of symbolic pride, for there is almost no volume, even by Ghanaian standards. They've wanted to link the Ghana Stock Exchange stock price to the NYSE and London prices, but they don't have the needed arbitrage parties, or local interest, to accomplish that. There are no other Ghanaian gold miners traded on the GSE currently. The trade volume seems to be in brewers and banks. I don't know how Golden Star will be able to do any better than such a "symbolic" listing like AngloGold Ashanti's in Ghana. Disclosure: I have some of both, and some non-gold stocks traded on the GSE. Getting trade execution in Ghana can be a challenge. The market is very thin, and brokers are mysteriously unwilling to move the prices much when you want something. FL)

Source:
The Denver Business Journal

2007-09-13


Mining company wants listing in Ghana

Golden Star Resources Ltd., which already has a home on two stock exchanges, wants to be listed on a third.

The Littleton company said Wednesday it intends to seek a listing of its shares on the Ghana Stock Exchange. The gold mining company trades as GSS on the American Stock Exchange and as GSC on the Toronto Stock Exchange.

Golden Star wants to be on the Ghana exchange because the company's assets are all in that country.

"Since 1999, Golden Star has been a 'Ghanaian company' in that its primary assets and the majority of its exploration activities have been centered in Ghana," Peter Bradford, president and CEO, said in a statement. "We believe that our commitment to Ghana should extend to becoming a company whose shares are tradable on the Ghana Stock Exchange."