Estimated profits Q1 = $38,862,000 (77,725 x $500)
Production ramping up huge for 2nd half 2012 with Bogoso just coming online middle Q1 & now at full produciton
Presta just opened as well and going to escalate into 2012
GSS throwing off massive postive cash flows
Stock left for dead but an easy triple by Fall.
DENVER, CO--(Marketwire -04/19/12)- Golden Star Resources Ltd. (AMEX: GSS - News) (TSX: GSC.TO - News) (GSE: GSR) ("Golden Star" or the "Company") today announced preliminary first quarter 2012 production results for its Bogoso/Prestea and Wassa/HBB operations.
The Company produced a total of 77,725 ounces of gold in the first quarter ended March 31, 2012, compared with guidance of 79,000 ounces. Preliminary cash operating cost for the quarter is approximately $1,120 per ounce.
You are looking at mine operating profits. You have to subtract administrative expenses, exploaration expenses, etc. which could be about 12 to 15 million for the quarter. At least they are unhedged so we will not have to deal with that loss. I like the company but they are in a show me mode. It is cheap but they need several quarters where they beat production estimates and the earnings will explode.