Gold Star Mining Company Limited

by Israel Boafo Bansah

Golden Star is an established West African gold mining company. The Company operates the Wassa gold mine in Ghana which is a large scale, non-refractory underground gold mine.

Golden Star is listed on the NYSE American stock exchange (ticker: GSS), the Toronto Stock Exchange (ticker: GSC) and the Ghana Stock Exchange (ticker: GSR).

Golden Star operates the Wassa gold mine in south-western Ghana

WASSA

  • The Wassa Gold Mine is located in western Ghana, 35 km northeast of the town of Tarkwa along the Ashanti Greenstone Belt. It transitioned to a primarily underground-focused operation in 2018.
  • Wassa is expected to produceĀ 165,000-170,000 ounces of gold in 2020 at a cash operating cost per ounce of $620-$660.

Exploration

The 2020 exploration budget is lower than in 2019 as the surface drilling of the deeper zones of the southern extensions to the Wassa orebody is now complete.

Although the orebody remains open to the South, the future drilling is now expected to be carried out from underground drill positions in order to lower the cost of the infill drilling programs and to allow tighter infill drill spacing to be achieved more efficiently.

In 2020, the greenfield and brownfield exploration programs will focus on near mine targets in-and-around Wassa, as well as on regional exploration targets within 60km of the Wassa operation.

A total of $6.2m ($3.5 m capitalized and $2.7m expensed) has been allocated for exploration activities during 2020.

Contact Gold Star Mining Company Limited

Contact
LONDON OFFICE2nd Floor
161 Brompton Road
Knightsbridge, London
SW3 1QP
+44 (0)20 8167 7000
REGISTERED OFFICE333 Bay Street, Suite 2400
Toronto, Ontario
Canada M5H2T6
ACCRA OFFICEDeila Court
House No. 19
Patrice Lumumba Street
Airport Residential Area
Accra
P.O. Box 16075
+1 233 302 779 040
+1 233 302 779 041
INVESTOR RELATIONSMichael Stoner
+44 (0)20 8167 7000
investor@gsr.com
TRANSFER AGENTCanadian Stock Transfer Company
Attention: Shareholder Services
P.O. Box 1900
Attention: Shareholder Services
Vancouver BC
Canada V6K 3K9
+1 800 387 0825 (Canada & U.S. only)
+1 416 682 3860
inquires@canstockta.com

Related Articles

Leave a Comment