Prestea reopening in 2012 addional 90,000 ounces of gold per year
GSS recently announced incredible news which has been driving a wave of buying, yesterday GSS was top Gold miner gainer - big accumulation happening.
Prestea is repopening production in 2012 which will add 90,000 oz gold year! And this follows news they just re-opened Bogoso which added 70,000 oz/gold per year!
High gold (18.07 grams per tonne (g/t) find @ 90,000 ounces of gold per year at full operation
We are also investigating the possibility of obtaining all necessary permits for a re-start of underground mining operations at Prestea by the end of 2012. This production would be sourced from existing infrastructure in the upper levels of the mine. It is gratifying that our hard work and perseverance is being rewarded with a project that will not only provide a new source of gold production for Golden Star but is anticipated to lower our overall cash operating costs
•West Reef has an Indicated Resource of 874,000 tonnes grading 18.07 grams per tonne (g/t) for 508,000 ounces of gold (Au) and the orebody is open along strike and down dip •The PEA contemplates a 1,200 tonnes per day operation from mechanized mining to produce 90,000 ounces of gold per year at full operation •Ore will be processed at the Bogoso oxide processing plant •Life-of-mine cash operating costs (before royalty and taxes) are estimated at $650 to $700 per ounce •Capital cost, including a decline and hoisting shaft, are estimated at approximately $115 million •Net present value at $1,500/oz Au and 5% discount rate is $134 million (pre-tax) •Internal rate of return of 17%
....WELL WHAT DO WE ALL HAVE IN STORE FOR US THIS WEEK....more bottoming, a bounce, a surge to the 200 dma...i would like to see all 3 transpire this week....maybe we will get some good news out about a fantastic 1st quarter...seeing GSS led all stocks down starting about 17 months ago, it would be great to see it be the first out of the gate, and a leader here in 2012....this ist quarter must have some nice numbers, and cash flow to report....
....WHEN WILL THEY EVER LEAVE US ALONE..???...THIS IS RIDICULOUS, gold bounced back strongly, and was up....however the miners got their butts kicked right out of the gate....Gss is holding it's 50dma so far / and that's a good sign for us.....but it seems the cartel wants to sink us again....dirty...bast urds
No such thing as a cartel sinking you! You are being sunk by management of GSS massively diluting the company stock to take an average of 2/3 of shareholder's value if you stay invested 8 years right out of the stock, Same as if they pulled a gun and made you shell out. In fact a gun would be a more honest theft, imho!
DENVER, CO--(Marketwire -03/21/12)- Golden Star Resources Ltd. (AMEX: GSS - News) (TSX: GSC.TO - News) (GSE: GSR) ("Golden Star" or the "Company") is pleased to announce the completion of a Company authored Preliminary Economic Assessment ("PEA") of the West Reef orebody of the Prestea Underground Mine. The Company plans to file a PEA document that is compliant with National Instrument 43-101 within 45 days. The Board of Directors has approved the PEA and has directed management to proceed to a full feasibility study. All references herein to "$" are United States dollars.