Golden Star Resources Ltd (GSS)

[TheProfit]

GSS looking great Pre Market..beating estimates plus cost per ounce way down too $960 (down 29% from last Q)

Gold sold during the third quarter was 88,925 ounces, bringing year to
date gold sold to 255,377 ounces
-- Company now expects to exceed previously provided guidance and sell
approximately 325,000 to 330,000 ounces in 2013
-- Consolidated cash operating cost per ounce was $960 for the third
quarter, compared to $1,078 per ounce for the second quarter of 2013.
This third consecutive quarter of operating savings is primarily due
to the implementation of cost-saving initiatives, additional
production from the low cost tailings reclaim facility as well as
improved access to ore in the Bogoso North and Chujah pits
-- Net income attributable to shareholders for the third quarter is $3.5M
or 1 cent per share
-- Cash flow provided by operations per share of 8 cents for the third
quarter, compared from 11 cents per share in the second quarter 2013
-- Consolidated cash was $66.6 million as at September 30, 2013 with a
further $40 million available in existing financing agreement
-- Additional production from the tailings reclaim facility is yielding
positive results and is expected to continue for at least another five
years
-- Investment in the push backs at both Chujah and Bogoso North pits
continues to improve access to ore, the stripping ratio and
consequently mine operating costs expected to further reduce in 2014
-- A successful public hearing was held at Prestea South during the third
quarter allowing the permitting process to advance




Sam Coetzer, President and CEO of Golden Star, commented:

"The third quarter of 2013 was another strong operational quarter for the Company, as we continued to increase our consolidated gold production and lower our costs. Primarily as a result of improved production from Bogoso, we have increased our production guidance for 2013. Reducing the cost of our operations remains a critical element of the Company's near term strategy. We are proud to have lowered mine operating expenses for the third consecutive quarter. Consolidated cash operating costs per ounce also reduced 11% quarter-over-quarter, and most encouragingly our cash operating costs per ounce at Bogoso decreased by 29%. We expect to see further improvements in this regard. Our balance sheet remains strong, with over $67 million in cash and another $40 million available from our existing financing agreement. With strong production, reducing costs and a sound balance sheet, I am confident that we will conclude 2013 on a very positive note."