Golden Star Resources (NYSE American: GSS) has entered into a binding agreement for the sale of its 90% stake in the Bogoso-Prestea Gold Mine in Ghana to Future Global Resources Limited for a total consideration of up to $95 million. The initial payment is $55 million, comprising $30 million at closing, with additional payments contingent on future milestones. This transaction aims to strengthen Golden Star's balance sheet and refocus investments on its Wassa mine. The deal is expected to close by September 30, 2020.
Golden Star Resources Ltd. (NYSE American: GSS) announced it will release its Q2 2020 financial results post-market on July 28, 2020. A conference call is scheduled for July 29, 2020, at 10:00 AM ET to discuss these results. The company operates gold mines in Ghana and anticipates producing between 195,000 and 210,000 ounces of gold in 2020, with a cash operating cost per ounce ranging from US$790 to US$850. A replay of the call will be made available on their website.