| Golden Star Gives Update on Bogoso Refractory Operations - Analyst Blog | |
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Golden Star Resources, Ltd. GSS has provided an update on the refractory mining and processing operations at Bogoso. The operations were originally scheduled to be shuttered in the fourth quarter of 2015 in sync with the company’s strategy of transitioning into a low cost non-refractory gold producer. However, the ball mill motor at the Bogoso refractory plant failed due to frequent voltage fluctuations in the grid power supply over the last three months. A replacement motor for the ball mill is expected to be on site next week. This downtime at the plant impacts bacterial activity and gold recovery in the BIOX circuit. The company took into consideration the cumulative impact on throughput at the mill and the resulting impact of such throughput issues on the cost structure and is therefore contemplating an early closure of the refractory operations at Bogoso. This is expected to negatively impact production and costs for 2015. Golden Star expected the operation to produce 145,000—155,000 ounces of gold in 2015 at a cash cost of between $870 and $960 per ounce. The share price of the company fell roughly 4.7% and closed at $0.31 on Monday. Last month, Golden Star announced that it has secured the necessary permits to develop open pit operations at its Prestea Mine. These surface operations are expected to be in production by end-2015, a year earlier than production from the mine was initially expected. Golden Star Resources carries a Zacks Rank #3 (Hold). Some better-ranked stock in the gold mining industry are Sandstorm Gold Ltd. SAND, Primero Mining Corp. PPP and Vista Gold Corp. VGZ. While Sandstorm Gold sports a Zacks Rank #1 (Strong Buy), Primero Mining and Vista Gold hold a Zacks Rank #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PRIMERO MINING (PPP): Free Stock Analysis Report SANDSTORM GOLD (SAND): Free Stock Analysis Report GOLDEN STAR RES (GSS): Free Stock Analysis Report VISTA GOLD CORP (VGZ): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Golden Star Resources
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PRODUCER |
CODE : GSC.TO |
ISIN : CA38119T1049 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Star is a gold producing company based in United states of america. Golden Star holds various exploration projects in Burkina Faso. Its main assets in production are BOGOSO / PRESTEA, WASSA, HWINI-BUTRE (FATHER BROWN) and BENSO in Ghana and its main exploration properties are MANO RIVER in Sierra Leone, SARAMACCA and AMÉLIKIA in Suriname, AKROPONG TREND and DUNKWA in Ghana and GOULAGOU - ROUNGA in Burkina Faso. Golden Star is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.9 billions as of today (US$ 2.3 billions, € 2.1 billions). Its stock quote reached its highest recent level on November 28, 2003 at CA$ 9.94, and its lowest recent point on December 24, 2014 at CA$ 0.20. Golden Star has 584 169 984 shares outstanding. |