![]() ![]() We now look forward to completing a Preliminary Economic Assessment on the development options for the ore body by the end of the year. We are now able to concentrate our financial and technical resources on accelerating the delivery of value from Wassa as it continues to develop into a large-scale, long-life and cash generative underground mine. This transaction is transformational for Golden Star's balance sheet and allows us to focus fully on further developing Wassa and realizing its potential. "We are pleased to complete the previously announced sale of Bogoso-Prestea. The sale strengthens Golden Star's balance sheet and allows the Company to accelerate the growth and development of the large resource base at the Wassa mine, and increase exploration activities in the wider Wassa-HBB project areaĪndrew Wray, President and Chief Executive Officer of Golden Star, commented:. ![]() The subsequent staged payments, totaling $25 million, and contingent payments of $20 to $40 million ensure that FGR is able to focus its investment capacity on the business whilst providing Golden Star with exposure to Bogoso-Prestea's long-term growth potential.The initial $5 million cash consideration due at closing has been deferred by up to six months to Mapending finalization of FGR's reclamation bonding process, as described below.The Bogoso-Prestea subsidiaries have now been transferred to FGR.Golden Star has completed the sale of Bogoso-Prestea to FGR.All references herein to "$" are to United States dollars. (NYSE American: GSS) (TSX: GSC) GSE: GSR) ("Golden Star" or the "Company") is pleased to announce that it has completed the sale of its 90% interest in the Bogoso-Prestea Gold Mine ("Bogoso-Prestea") in Ghana to Future Global Resources Limited ("FGR"). 1, 2020 /PRNewswire/ - Golden Star Resources Ltd.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |