Golden Star Resources Ltd. - GSS STOCK NEWS

Golden Star Resources Ltd. (GSS) announced the restructuring and upsizing of its senior secured credit facility with Macquarie Bank, transitioning it to a three-year revolving credit facility (RCF) worth $90 million, increasing capacity by $20 million. Currently, $60 million is drawn, leaving $30 million available. This restructuring eliminates near-term capital repayment requirements, providing an additional $50 million of liquidity. The updated interest range is LIBOR plus 4.00%-5.25%, with expectations for savings of $2.7 million annually. The company also extended its gold price protection program to 2024, de-risking financial obligations.

Golden Star Resources Ltd. (NYSE American: GSS) announced that all resolutions were passed during its annual general meeting on May 6, 2021. Key outcomes included the election of directors Timothy C. Baker, Karen Akiwumi-Tanoh, Gilmour Clausen, Gerard De Hert, Anu Dhir, Ani A. Markova, Karim M. Nasr, Craig J. Nelsen, Mona H. Quartey, and Andrew M. Wray, with approval percentages exceeding 99%. The re-appointment of PricewaterhouseCoopers LLP as auditors was also confirmed, with 99.19% votes in favor. The meeting concluded with a non-binding advisory resolution on executive compensation receiving 99.18% approval.

Golden Star Resources Ltd. (GSS) reported steady Q1 2021 results, achieving gold production of 40.1k ounces from the Wassa mine, consistent with previous periods. The All-In Sustaining Cost (AISC) was reported at $1,100/oz, slightly above expectations. Cash increased to $66.1m, with net debt reduced to $39.5m. The Wassa Technical Report indicated significant growth potential with a six-year mine life and annual production average of 177k ounces at an AISC of $881/oz. The company maintains a 2021 production guidance of 165-175k ounces.

Golden Star Resources Ltd. (NYSE American: GSS) has published its 2020 Corporate Responsibility Report, reflecting significant advancements in sustainability practices. The report, aligned with Global Reporting Initiative Standards, highlights the Company's management of COVID-19, resulting in minimal production impact and no fatalities. Key achievements include Wassa mine being recognized for safety, a transition to a new energy mix saving $8 million, and continued improvements in diversity and community engagement, with 99% of the workforce being Ghanaian. The Company remains committed to sustainable mining practices.

Golden Star Resources Ltd. (NYSE American: GSS) will announce its first quarter 2021 financial results after market close on May 5, 2021. A conference call to discuss these results is scheduled for May 6, 2021, at 10:00 AM Eastern Time. The company, which operates the Wassa underground mine in Ghana, is focused on generating strong margins and free cash flow. Golden Star is recognized for its commitment to sustainable practices in mining, having won an award for Environmental and Social Responsibility in 2018.

Golden Star Resources (GSS) announced a five-year investment agreement with Royal Gold's subsidiary, RGLD Gold AG, for $150,000 annually to support the Golden Star Oil Palm Plantations (GSOPP) initiative. This initiative aims to create sustainable livelihoods and stimulate economic development in host communities near the Wassa mine in Ghana. Since its inception in 2006, GSOPP has developed over 1,500 hectares, benefiting over 700 families with yields significantly exceeding local averages. The partnership aligns with Golden Star's sustainability goals and aims to foster a positive legacy in the region.

Golden Star Resources Ltd. (NYSE American: GSS) announces two new director nominees, Karen Akiwumi-Tanoh and Gerard De Hert, for election at the annual general meeting on May 6, 2021. This follows the retirement of Robert Doyle, adhering to the limit of a maximum 10-year term for directors. Akiwumi-Tanoh brings extensive experience in the African banking sector, while De Hert has a strong background in gold mining. With these changes, female representation on the board will increase to 40%, reinforcing the company's commitment to diversity.

Golden Star Resources Ltd. (GSS) announced an amendment to its agreement with Future Global Resources Limited (FGR) regarding the sale of its 90% interest in the Bogoso-Prestea Gold Mine in Ghana. The revised terms allow for deferred payments to be made by May 31, 2021, two months ahead of schedule. The new payment structure includes a $5 million payment and a $10 million payment, both due on the same date, alongside a $4.6 million working capital balancing payment due by July 31, 2021. FGR is also required to secure a reclamation bond for environmental obligations.