Golden Star Resources Limited is a Canadian company having gold mining operations. It has two major gold mines in Ghana, West Africa. The company is traded on three stock exchanges: Toronto Stock Exchange (GSC), Ghana Stock Exchange (GSR) and AMEX as GSS. The company was started in the year 1992 with its headquarters in Toronto, Ontario, Canada. The company has a production of nearly 4 million ounces of gold. The production of the company is expected to increase with the gradual decrease in the company’s operating costs.
The production of the company began in Ghana in 1999. The company owns 90 percent interest in Prestea and Wassa mines located on the Ashanti Gold Belt in the western region of Ghana. The company aims at focusing on the growth of its operative margins through the productive measures to reduce costing and produce higher grade ounces. Golden Star has the financial agreement with Royal Gold for its operations in the West African region. The company gave an expected growth of 280K ounces per annum from the year 2017 to 2021. The sustaining costs are expected to reduce below $950 per ounce level with the two developments coming on-stream.
The 52-week stock price of the company is $0.56 – $0.92. The stock of the company has taken an upward position in 2018 and even hit the level of $0.90 in the month of January. As per the July figures, the stock price declined to $0.69 per share value. The investors need to watch the coming trends as gold is getting a higher value in the current phase. The total revenues have been increasing over the past five quarters and hence, there is a hope for a better growth of prices for the company.
Wassa Gold Mine: It is located in the south-west of Ghana. The production from this mine is expected to be 120,000 – 135,000 ounces as per the 2016 analysis with about 20,000 – 25,000 ounces from Wassa Underground.
Prestea Gold Mine: it is located at about 40 km distance from Wassa and in the western region of Ghana. The mine produced about 60,000 – 70,000 ounces of gold in 2016 and has higher prospects of growth for gold mining.
The market capitalization of Golden Star Resources is $266.337 million. The company is highly committed to work with the best principles and environments for operation. It aims at bringing the social responsibility of turning the business with economic stability and ethical business practices. The positive approach is expected to bring a good future for the company. It had a presence in West Africa for 19 years and is aiming at making the financial stability for the regions where it operates.
Golden Star Resources works in compliance with the 10 principles of human rights and integrates these principles into social goals to gain a broader economic spectrum. The international human rights are highly respected and the employees are given proper safety measures at work. The company even integrates the Agenda 2030 (17 SDGs) for its development all over the globe. It has even developed multi-stakeholder partnerships in achieving its goals.