Golden Star Resources reports on financial results for H1 2021
Golden Star Resources (GSR) has for the first and second quarters reported on its financial and operational results.
According to GSR, its Q2 2021 production from the Wassa mine totaled 37.9 thousand ounces at an all-in sustaining cost (AISC)of $1,182 per ounce (/oz).
“H1 2021 production totaled 78.0koz at an AISC of $1,140/oz, and the Company remains on track to deliver on the recently revised production guidance of 145-155koz for 2021,” said Andrew Wray, CEO, Golden Star Resources
Speaking further, Mr Wray, disclosed the company’s plans to address the repayment of its $51.5 million corporate debentures and reduce its net debts to $31 million.
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“Our primary objectives for H1 2021 were to continue positioning the business for future production growth, as well as to be able to address the repayment of the $51.5m Convertible Debentures in August 2021. With the increase in the cash position to $72.7m during the quarter and the successful refinancing of the Macquarie Credit Facility, we now have adequate liquidity to be able to cash settle the Convertible Debentures on maturity,” remarked Mr Wray.
According to GSR, some $3.3 million during the second quarter of 2021 was invested in exploration at Wassa and the regional Hwini Butre and Benso (HBB)
concessions, of which $1.9m of Wassa in-mine exploration was capitalized and the balance of $1.4m was expensed.
Read details of GSR’s financial results:
Golden Star Resources Reports Results by Fuaad Dodoo on Scribd
