Golden Star Resources Ltd. - GSS STOCK NEWS

Golden Star Resources (GSS) has provided an update on its drilling programs at the Wassa mine in Ghana, indicating significant progress in both up-dip and down-dip extensions of mineralization. Highlights include successful drilling results such as 20.9m at 6.9 g/t and the discovery of a new hanging wall zone yielding 9.1m at 4.5 g/t. The exploration efforts aim to expand the resource base ahead of a year-end mineral resource update in early 2022. The company anticipates continued development and production enhancements from these promising drilling outcomes.

Golden Star Resources Ltd. (NYSE American: GSS) announced the appointment of Ben Pullinger as Executive Vice President, Head of Discovery, effective November 1, 2021. With over 15 years of experience in the gold sector, Pullinger is expected to enhance the discovery and development of the Wassa ore body, which has 3 million ounces of measured and indicated resources. CEO Andrew Wray emphasized Pullinger's role in advancing the company’s growth strategy. This follows the retirement of Mitch Wasel, Vice President Exploration, after nearly 29 years with the Company.

Golden Star Resources Ltd. (NYSE American: GSS) will announce its third quarter 2021 financial results after market close on November 1, 2021. A conference call and webcast to discuss these results will take place on November 2, 2021, at 10:00 AM ET. Golden Star, based in Ghana, focuses on strong margins and free cash flow from its Wassa underground mine. The company is dedicated to sustainable practices and has received the 2018 Environmental and Social Responsibility Award from the Prospectors & Developers Association of Canada.

Golden Star Resources Ltd. (NYSE American: GSS) has finalized negotiations with Future Global Resources Limited to restructure the purchase terms of the Bogoso-Prestea mine. This agreement eliminates all existing and future claims and transitions to a net smelter return (NSR) agreement, triggering payments once 100,000 ounces of gold are produced. The NSR payments are capped at $35 million. The restructuring aims to align payments with the performance of the mine, while the Sulphides Contingent Payment remains set at $40 million. The changes support ongoing development efforts.

Golden Star Resources Ltd. (NYSE American: GSS) has announced the full cash repayment of its 7% convertible debentures, totaling $51.5 million, which matured on August 15, 2021. This repayment eliminates the liability from the balance sheet and mitigates the risk of equity dilution for shareholders. Concurrently, the company drew down $29.2 million from its $90 million Macquarie Credit Facility, resulting in a fully drawn credit facility. The repayment signifies a marked improvement in the company's financials, reducing costs and enhancing balance sheet strength.

Golden Star Resources Ltd. (NYSE American: GSS) reported Q2 2021 financial and operational results, highlighting a production of 37.9 thousand ounces at an all-in sustaining cost of $1,182 per ounce. Year-to-date, production totaled 78.0koz. Cash increased by $6.6 million to $72.7 million, and net debt reduced to $31 million. The company anticipates a revised 2021 gold production guidance of 145-155koz, while AISC guidance increased to $1,150-$1,250/oz due to lower production and cost inflation. Significant developments include the restructuring of the Macquarie Credit Facility to $90 million and transformative exploration investments.

Golden Star Resources Ltd. (NYSE American: GSS) reports that Future Global Resources Limited (FGR) has defaulted on a $15 million payment related to the sale of Golden Star's 90% interest in the Bogoso-Prestea Gold Mine. FGR claims the right to withhold payment due to alleged breaches of the Share Purchase Agreement, which Golden Star disputes. Caystar Holdings has also sought payment from FGR's major shareholder, Blue International Holdings Limited, under a guarantee. Golden Star is exploring legal avenues for full recovery of the amount owed.

Golden Star Resources Ltd. (NYSE American: GSS) will release its Q2 2021 financial results on July 28, 2021, post-market. A conference call is scheduled for July 29, 2021, at 10:00 am ET to discuss these results. Golden Star operates the Wassa underground mine in Ghana, focusing on strong margins and free cash flow. The company has received recognition for its commitment to environmental and social responsibility.

Golden Star Resources Ltd. (GSS) announced on June 28, 2021, an update on the paste fill plant commissioning and revised its 2021 production guidance. The commissioning faced delays due to lower-than-expected strength test results, with completion now expected in Q4 2021. Consequently, the production forecast has been reduced to 145-155 thousand ounces (koz), down from an earlier estimate of 165-175 koz. All-in sustaining costs have risen to $1,150-$1,250 per ounce, impacted by reduced production volumes. The capital expenditure guidance remains unchanged at $45-$50 million, focusing on sustaining capital projects.