Replies to post #281208 on ORIONS Money Stocks

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THM added 15,777 shares today

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GSS - cash balance of $67 million

Golden Star Announces Preliminary Third Quarter 2013 Production Results

TORONTO, ON -- (Marketwired) -- 10/03/13 -- Golden Star Resources Ltd. (NYSE MKT: GSS) (TSX: GSC) (GHANA: GSR) ("Golden Star" or the "Company") today announced its preliminary production results for its Bogoso/Prestea and Wassa/HBB operations for the three month period ended September 30, 2013.

In the third quarter of 2013, the Company sold a total of 88,915 ounces of gold at an average realized price of USD$1,329 per ounce. Third quarter production marks three consecutive quarters of consolidated production growth for Golden Star.

•Bogoso/Prestea operations sold 44,085 ounces of gold for the third quarter.
•Wassa/HBB operations sold 44,830 ounces of gold for the third quarter.

Year-to-date, the Company has sold 255,366 ounces of gold.

As of September 30, 2013, the Company had a cash balance of $67 million and additional available cash resources of $40 million from the undrawn portion of the Ecobank term loan facility.

Sam Coetzer, President and CEO of Golden Star, commented: "I am very encouraged with our mines' performance during the third quarter of 2013. Production from the Bogoso Mine has increased quarter over quarter since the first quarter of 2013 due to increased processing throughput. Low cost gold production from the tailings reclaim facility, which we commissioned in July, partially replaced production from the now suspended Pampe pit and this facility is expected to continue to contribute positively to Bogoso's production results. Progress on the betterment stripping at Chujah and Bogoso North has been solid and from the fourth quarter of 2013 onwards, the stripping ratios of these pits are expected to decline, resulting in a decrease of costs going forward. The Wassa operations performed to plan. With the investments the Company has made into drilling the Wassa main pit, the Father Brown pit and the processing plant, the Wassa operations are demonstrating good results. Consolidated annual production is trending to the high end of guidance and we are confident that the fourth quarter of 2013 will underscore the operational transformation of the Company."

The Company plans to release its third quarter 2013 financial results on Monday November 4, 2013, before market open. Management will be hosting a call on that date at 10:00 AM EST.