EVENTS COVERAGE

Golden Star named Ghana's mining company of the year

Ghana gold miner Golden Star Resources (US:GSS) needs to make room in its trophy cabinet after winning a swathe of awards, including its Prestea operations subsidiary being named mining company of the year, in the annual Ghana mining industry awards this week.

Staff reporter
 Investors and analysts with staff on a site visit this month

Investors and analysts with staff on a site visit this month

Golden Star was also named best performer in corporate social investment for its breast cancer awareness programme that has screened more than 10,000 women in the past three years; and was runner-up in occupational health and safety.

COO Daniel Owiredu, who has been with the company for 11 years, won the inaugural mining personality of the year award and Prestea process manager Ahmed-Salim Adam won best graduate research.

President and CEO Sam Coetzer said the company was delighted the awards and said the result reflected the "strong commitment to excellence" by the whole team.

Golden Star was also recently named one of the Prospectors and Developers Association of Canada's seven awards winners for 2018, for its environmental and social responsibility.

The company has two operations in Ghana, with Prestea underground expected to achieve commercial production this quarter.

Higher operating margins at the two mines pushed gold revenues up 58% for the September quarter, compared with the previous corresponding period, to US$87.8 million.

Golden Star had $30 million in cash and equivalents at the end of September.

The company expects to produce between 255,000 - 280,000oz of gold this year at an all-in sustaining cost of $970 - $1,070/oz.

Shares in the company fell 2.6% in New York to 86c but remain near the upper end of its 52-week range of 59c-$1.01.

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