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
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Source: Golden Star Resources Ltd.
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