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Golden Star Resources Ltd.

SymbolGSC
Float Market Cap389,309,763 as of Sept. 27, 2008
Last Price1.68 as of Sept. 29, 2008
Outstanding Shares235,945,311
Keep me informed of Golden Star Resources Ltd.
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Articles and Press Releases

From Yahoo Finance | contributed by feedreader - Apr 17 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

DENVER - Golden Star Resources Ltd. will release its first quarter 2008 results after the market close on Tuesday, May 6, 2008 and has scheduled a conference call and webcast on Wednesday, May 7 at 11:00 a.m.

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Golden Star Appoints D. Scott Barr As Executive Vice President

Direct contribution | contributed by nmandryk - Apr 2 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

Denver, Colorado, April 2, 2008 - Golden Star Resources Ltd. (AMEX: GSS; TSX: GSC; GSE: GSR) today announced that it has appointed Mr. D. Scott Barr as Chief Operating Officer commencing on April 2, 2008.

Tom Mair, President and CEO said: “We are excited to have Scott join the Golden Star management team. His strong professional and technical skills and extensive experience in the international mining industry will be of great value to Golden Star, particularly during the Bogoso/Prestea and Wassa expansions we have undertaken in Ghana. We believe that Scott’s experience will be a strong complement to our current management team.”

 

Mr. Barr is a qualified metallurgical and chemical engineer with more than 30 years of international business experience in the natural resources industries. Prior to joining Golden Star, he was employed for 13 years by Newmont Mining Corporation in a number of key roles including Chief Technical Officer. His Newmont experience included involvement in projects and operations in Indonesia, South America, Australia, Ghana and North America. Prior to joining Newmont, Scott also worked in a number of roles with other mining companies that included 16 years experience in refractory gold operations in Nevada, along with development and operations experience in base metals and non-metallics.

 

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 and the Hwini-Butre and Benso properties 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 236 million shares outstanding.

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Golden Star Appoints President And Ceo

Direct contribution | contributed by admin - Mar 7 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

Denver, Colorado, March 7, 2008: Golden Star Resources Ltd. (AMEX: GSS; TSX: GSC:GSR) today announced that Mr. Tom Mair has been appointed President and CEO and as a member of the Board of Directors effective immediately. Mr. Mair has been serving as Interim President and CEO since December 2007. Prior to joining Golden Star as Chief Financial Officer in 2007, Mr. Mair was employed by Newmont Mining Corporation in a number of key roles, including Director, Business Process Improvement; group financial executive at Minera Yanacocha, Peru; Regional Controller Winnemucca, Nevada and President-Director PT Newmont Minahasa Raya, Indonesia. “The Board believes Tom is eminently qualified to continue to lead Golden Star to the next stage of its development and that our employees, our shareholders and the market will welcome these appointments,” commented Ian MacGregor, Golden Star’s Chairman.

 

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 and the Hwini-Butre and Benso properties 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 236 million shares outstanding.

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Golden Star Announces Completion Of Ghanaian Offering

Direct contribution | contributed by admin - Feb 1 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

Denver, Colorado, February 1, 2008: Golden Star Resources Ltd. (AMEX: GSS; TSX: GSC) today announced that it has completed the sale of 1,869,020 common shares, with gross proceeds to Golden Star of 5,607,060 Ghanaian Cedis or approximately $5.8 million. The offering was carried out in support of Golden Star’s recent application to list its common shares on the Ghana Stock Exchange. The shares were registered under the U.S. Securities Act of 1933.

 

Since the majority of Golden Star’s exploration and production assets are located in Ghana it was a natural progression for Golden Star to seek a listing of its common shares on the local stock exchange, in order to support the further growth of the Ghana Stock Exchange and to provide our employees and stakeholders in Ghana with an opportunity to invest in Golden Star.

 

Trading on the Ghana Stock Exchange is expected to commence on February 15, 2008. Golden Star has secured the listing of the common shares issued in the Ghanaian offering on the American Stock Exchange and has received conditional approval to list those shares on the Toronto Stock Exchange, with that listing being subject to Golden Star fulfilling the applicable listing requirements. Upon the commencement of trading on the Ghana Stock Exchange, the common shares of Golden Star will trade concurrently on all three exchanges.

 

Tom Mair, Interim President and CEO, commented, “We are very pleased with the success of this offering in Ghana. We look forward to many years of continuing work in Ghana and this offering supports our efforts by allowing our local employees, the Ghana Stock Exchange and Ghana in general to benefit and grow with Golden Star.”

 

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.

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Golden Star Appoints Interim President And Ceo

Direct contribution | contributed by admin - Dec 21 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

Denver – (Business Wire) - December 20, 2007: Golden Star Resources Ltd. (AMEX: GSS; TSX: GSC) (“Golden Star” or the “Company”) today announced that Mr. Tom Mair has been appointed Interim President and CEO effective January 1, 2008, at which time Mr. Peter Bradford will be stepping down as President and CEO of the Company.

 

Mr. Mair has more than 25 years of international business experience in the natural resources industries. Prior to joining Golden Star as Chief Financial Officer in February of this year, Mr. Mair was employed by Newmont Mining Corporation in a number of key roles, including Director, Business Process Improvement; group financial executive at Minera Yanacocha, Peru; Regional Controller Winnemucca, Nevada and President-Director PT Newmont Minahasa Raya, Indonesia.

 

Tom has played an integral role in consolidating and strengthening the Company’s financial systems and overall financial health,” says Mr. Ian MacGregor, Chairman of Golden Star’s Board of Directors. “Likewise, his membership on our Executive Management Team to help steer the overall direction of the organization has provided him with the solid foundation needed to step into his new role.”

 

As he takes on the Interim CEO title, Tom will temporarily relinquish his CFO and Corporate Secretary positions. Mr. Roger Palmer, currently Vice-President, Finance and Controller for Golden Star, has been named Interim CFO and Compliance Officer and Mr. Bryant Veazey, Treasurer for Golden Star, has been named Interim Corporate Secretary.

 

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 timing of the resignation of the incumbent President and CEO and the timing of the appointment of the interim President and CEO and Interim Chief Financial Officer. 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 factors in our Form 10-K for 2006, as amended.

 

For further information, please contact:

 

GOLDEN STAR RESOURCES LTD. +1-800-553-8436

 

Tom Mair, Senior Vice President and Chief Financial Officer Anne Hite, Investor Relations Manager

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Golden Star Confirms Extensions To Benso Gold Deposit

Direct contribution | contributed by admin - Dec 7 - Golden Star Resources Ltd.
http://www.lineargoldcorp.com

Golden Star Resources Ltd. (AMEX: GSS; TSX: GSC) (“Golden Star”) today provided an update on the continuing exploration of its Benso concession in Ghana.

 

Results received from the 3,418 meters of combined Reverse Circulation (“RC”) and Diamond Drilling (“DD”) have been positive and Golden Star expects that a portion of the Inferred Mineral Resource below the current pit designs will be converted into Indicated Mineral Resources and may subsequently be converted into Mineral Reserves.

 

Mitch Wasel, Golden Star’s Vice President Exploration, commented that, “The high grade shoot drilled at Subriso West exhibits grades and thicknesses that will likely deepen the existing $480 per ounce pit designs and could conceivably be mined underground. Therefore, in our efforts to enhance shareholder value, the drilling of the down dip extensions of this zone is a priority for Golden Star in 2008, which will help us to understand the full potential of the Benso deposits. This work is expected to be done in the second quarter of 2008, or possibly earlier depending on drill rig availability.”

 

BACKGROUND

The Benso concessions form part of the Hwini-Butre and Benso project, which is currently being developed as a source of high grade ore for the Wassa processing plant. Development of the haul road to connect the Benso concession to the Wassa processing plant commenced in October 2007 following the receipt of the necessary environmental permits. The haul road and modifications to the Wassa processing plant are expected to be completed by the third quarter of 2008. The total cost of the project, including the cost of mining equipment, is expected to be $50 million and the first ore is expected to be mined at Benso and hauled to the Wassa processing plant in the third quarter of 2008. Mining at Hwini-Butre is expected to commence in 2009.

 

We previously estimated a total Probable Mineral Reserve for the Hwini-Butre and Benso project within $480 per ounce pit designs of 4.13 million tonnes grading 4.35 g/t for contained gold of 577,000 ounces, of which 2.30 million tonnes grading 3.41 g/t containing 252,000 ounces were contained within pits on the Benso concession. In addition to the Mineral Reserves at Benso, 0.41 million tonnes grading 2.47 g/t of Indicated Mineral Resource and 0.61 million tonnes grading 3.41 g/t of Inferred Mineral Resource were contained within the $560 per ounce Inferred Mineral Resource optimized pit shell.

 

 

 

BENSO DRILLING PROGRAM

The drilling at Benso was designed to test the $560 per ounce Inferred Mineral Resource optimized pit shells with the aim of converting this material into Measured and Indicated Mineral Resources and hence possible conversion into Mineral Reserves. Results received from the combined RC and DD programs have been positive and Golden Star expects the conversion of a portion of this tested Inferred Mineral Resource into Indicated Mineral Resources for subsequent possible conversion into Mineral Reserves.

 

The completed drilling program included 40 drill holes totaling 1,850 meters of RC drilling and 1,568 meters of DD drilling. The Subriso West pit shows the best potential for expansion with the majority of the drilling intersecting mineralized widths and grades that will likely have a positive affect on our next optimized pit shells. Of note, hole SWRC006, which is located on the southern end of the pit, drill intersected 5 meters grading 116 g/t gold, and hole SWZDD008, located 50 meters north of hole SWRC006, drill intersected 19 meters grading 2.3 g/t. Significant intersections are detailed in the table below.

 

 

Hole ID

Section

East (m)

North (m)

Elevation (m)

Azimuth (°)

Dip (°)

Drill Type

From (m)

To (m)

Interval (m)(1)

Grade (Au g/t)

SEZRC071
58300N
176752
58300
59
90
-50
RC

No significant intersections

SEZRC072
58300N
176781
58300
60
90
-50
RC

No significant intersections

SEZRC073
58250N
176779
58250
64
90
-50
RC
35
40
5
1.8
SEZRC074
58250N
176807
58250
65
90
-50
RC
13
18
8
1.2
SEZRC075
57475N
176721
57475
59
90
-50
RC
7
9
2
1.1
SEZRC076
57475N
176674
57475
61
90
-50
RC
53
55
2
2.0
SEZRC077
57525N
176724
57525
68
90
-50
RC
5
8
3
5.9
SEZRC078
57525N
176682
57525
70
90
-50
RC

No significant intersections

SEZRC079
57575N
176750
57575
75
90
-50
RC

No significant intersections

SEZRC080
57575N
176713
57575
78
90
-50
RC

No significant intersections

SEZRC081
58025N
176579
58025
72
90
-50
RC

No significant intersections

SEZDD006
58225N
176741
58225
61
90
-50

 

No significant intersections

SEZDD007
58250N
176744
58250
61
90
-50

 

54
58

4 | 1.8

SEZDD008
58275N
176730
58275
59
90
-50

 

No significant intersections

SWZRC005
12SW
175318
58553
62
40
-50
RC
20
23
3
1.3
SWZRC006
13SW
175272
58537
59
40
-50

RC RC

80

102

83

107

3
5
5.6
116.1
SWZRC007
14SW
175251
58551
57
40
-50
DD
98
114
16
1.7
SWZRC008
15SW
175228
58563
56
40
-50
DD
122
141
19
2.3
SWZRC009
17SW
175213
58623
58
40
-50
DD
124
134
10
2.4
SWZRC010
17SW
175151
58549
68
40
-50

DD DD

220 234

223 240

3 6

2.1 1.0

SWZRC011
19SW
175160
58638
66
40
-50
DD
131
138
6
3.7
SWZRC012
20SW
175119
58628
65
40
-50

DD DD DD

175 213 234

180 218 238

5 5 4

3.3 1.9 1.4

SWZRC013A
18SW
175140
58583
66
40
-50
DD
218
224
6
8.2
SWZRC014
19SW
175111
58579
69
40
-50
DD
279
282
3
1.7
SWZRC015
22SW
175090
58671
60
40
-50

DD DD DD

161

202 220

164

207

223

3 5 3

1.4 1.7 1.5

SWZRC016
23SW
175090
58710
56
40
-50

DD DD DD

126 140 167

129 148 186

3 8 19

2.8 1.6 3.6

 

 

 

 

 

 

 

 

 

 

 

Inclu ding DD DD

168 196

207

175 200 217

7 4 10

6.5 1.9 3.1

SWZRC017
15SW
175187
58514
59
40
-50
DD
203
211

7 | 2.6

SWZRC018
12SW
175281
58510
171
40
-50
DD

No significant intersections

SGZRC020
58250N
174759