Operational Delivery Continues as Prestea Sale Unlocks Investment Capacity
TORONTO, Oct. 28, 2020 /PRNewswire/ – Golden Star Resources Ltd. (NYSE American: GSS) (TSX: GSC) (GSE: GSR) ("Golden Star" or the "Company") reports its financial and operational results for the third quarter ended September 30, 2020. All references herein to "$" are to United States dollars.
Q3 2020 AND YEAR TO DATE HIGHLIGHTS: On September 30, 2020 the Company completed the previously announced sale of the Bogoso-Prestea gold mine to Future Global Resources ("FGR"). As a result Prestea performance is now reported as a discontinued operation.
The Bogoso-Prestea disposal removed $24m of negative working capital and the $53m rehabilitation provision from the Company’s balance sheet, transitioning the group to a positive net asset position. Q3 2020 production totaled 41.6 thousand ounces ("koz") from continuing operations (Wassa). The underground mining rate was successfully increased to a record quarterly average […]
October 29, 2020 (updated October 29, 2020) Published by StockMan