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Business News of Saturday, 3 February 2018


Golden Star to achieve commercial production in underground mine

Golden Star Resources logoGolden Star Resources logo

The underground mine of the Golden Star Resources limited at Prestea in the Western Region is expected to produce Gold in commercial quantities after the installation of all ancillary infrastructure.

Currently, exploration drilling was underway at the mine with the objective of increasing the annual production rate and extending the life of the mine.

In an interview with the GNA, President and Chief Executive officer of Golden Star, Sam Coetzer, said the West Reef ore body of Prestea Underground has Mineral Reserves of 1.09million tonnes of Gold at 13.93 grams per tonne of Gold.

“Achieving commercial production at Prestea underground is an important milestone in Golden Star’s transformation into a high grade, margin-focused gold producer.

“It is also a significant historical moment for the Prestea community as it has been over 15 years since the mine produced in commercial quantities. I will like to thank our host communities for their continued support during the construction and commissioning periods.”

The 2018 production guidance for the Prestea Complex which includes; Prestea Underground and the Prestea Open Pits is between 93,000 and 113,000 ounces of gold at a cash operating cost $740-880 per ounce.

He mentioned that the Golden Star would release its 2017 full year and fourth quarter report after market closes on February 20, 2018.