May 23, 2018 4:22 AM ET

Metals and Mining

Company Overview of Golden Star Resources Ltd.

Company Overview

Golden Star Resources Ltd. operates as a gold mining and exploration company. The company owns and operates the Wassa open-pit gold mine, the Wassa underground mine, and a carbon-in-leach processing plant located to the northeast of the town of Tarkwa, Ghana; and Bogoso gold mining and processing operation, Prestea open-pit mining operations, and the Prestea underground development project located near the town of Prestea, Ghana. It also holds and manages interests in various gold exploration properties in Ghana and Brazil. The company was incorporated in 1992 and is headquartered in Toronto, Canada.

Sun Life Financial Tower

Suite 1200

150 King Street West

Toronto, ON M5H 1J9

Canada

Founded in 1992

Phone:

416-583-3800

Key Executives for Golden Star Resources Ltd.

President, CEO & Director
Age: 56
Total Annual Compensation: $500.0K
Executive VP & CFO
Age: 40
Total Annual Compensation: $270.0K
Executive VP, COO & Director
Age: 59
Total Annual Compensation: $400.0K
Vice President of Exploration
Age: 52
Total Annual Compensation: $220.0K
Senior Vice President of Operations, Project Development & Technical Services
Age: 48
Total Annual Compensation: $280.0K
Compensation as of Fiscal Year 2016.

Golden Star Resources Ltd. Key Developments

Golden Star Resources, Ltd. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2018; Provides Capital Expenditures Guidance for the Year 2018; Provides Production Guidance for the Second Quarter, Second Half and Full Year 2018

Golden Star Resources Ltd. reported unaudited consolidated earnings and production results for the first quarter ended March 31, 2018. For the quarter, the company's revenue was $70,819,000 compared to $68,545,000 a year ago. Net income attributable to the company shareholders was $1,015,000 or loss per diluted share of $0.01 compared to $170,000 or $0.00 per basic and diluted share a year ago. Net cash used in operating activities was $3,971,000 or $0.03 per basic share compared to net cash provided by operating activities of $9,438,000 or $0.00 per basic share a year ago. Additions to mining properties was $309,000 compared to $155,000 a year ago. Additions to construction in progress $11,028,000 compared to $16,548,000 a year ago. Adjusted net loss attributable to the company shareholders was $1,409,000 or $0.00 per basic share compared to net income of $3,411,000 or $0.0 per basic share a year ago. Capital expenditures were $11,582,000 against $16,703,000 a year ago. For the quarter, the company's total gold produced of 57,616 ounces compared to 57,795 ounces a year ago. For the year 2018, the company expects capital expenditures of $36.5 million, which include $6.6 million for exploration. The company expects gold production to be weighted towards the second half of the year, due to the continued ramp up of production at both Wassa Underground and Prestea Underground.  Consequently, Golden Star anticipates that its cash operating cost per ounce1 and AISC per ounce1 will be higher during the first half of 2018.  For the year 2018, the company expects consolidated production of 230,000-255,000 ounces of gold at a cash operating cost per ounce of between $650 and $730, an AISC per ounce of between $850 and $950.

Golden Star Resources Announces Production Results for the First Quarter of 2018

Golden Star Resources announced production results for the first quarter of 2018. The company produced 57,616 ounces of gold in the first quarter of 2018.

Golden Star Resources Ltd., Q1 2018 Earnings Call, May 03, 2018

Golden Star Resources Ltd., Q1 2018 Earnings Call, May 03, 2018

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