Golden Star Resources Ltd. has released its preliminary production results for its Bogoso/Prestea and Wassa/HBB operations for the three-month period ended March 31, 2013.
In the first quarter of 2013 the Company sold a total of 81,358 ounces ("oz") of gold ("Au") at an average realized price of $1,634 per ounce. Bogoso/Prestea mine sold 35,492 oz Au for the quarter Wassa/HBB operations sold 45,866 oz Au for the quarter
Sam Coetzer, President and CEO, commented, "The first quarter production of 81,358 ounces of gold is a very positive accomplishment despite the extended planned maintenance shutdown of the SAG mill at the Bogoso sulfide plant during the quarter which deferred some of our first quarter production into the second quarter. We are on track to meet our production guidance estimate for the year."
Maybe this is the news analysts were waiting for after the Q1 uncertainty created by the Feb 19, NR on the "extended planned maintenance shutdown of the SAG mill at the Bogoso sulfide plant during the((first)) quarter"
From Seeking Alpha:
Shares of Golden Star Resources (GSS +6.7%) are strong after the gold miner released preliminary...
Thursday, April 4, 3:05 PM ET
Shares of Golden Star Resources (GSS +6.7%) are strong after the gold miner released preliminary Q1 production results for its Bogoso/Prestea and Wassa/HBB operations in Ghana, putting gold sales at 81,358 oz. at an average realized price of $1,634/oz. GSS says it's on track to meet its production guidance estimate for the year.
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“The manipulation of the bullion market is illegal, but as government is doing it the law will not be enforced. It is an act of desperation. If bullion were not a threat, the government would not be attacking it.
The fact that the Federal Reserve is short selling bullion means that there is something desperate going on, and I assume it’s related to the US dollar. If the dollar drops sharply in exchange value the Fed can’t control the interest rate and the bond price and so all of the bubbles would blow up.
All of the recent reports of countries moving away from the dollar to settle their international payments has most likely caused a great many countries to look at getting out of dollars. We not only have the BRICS moving away from the use of the dollar, but also China, Japan, and all of the East Asians.
Recently we have even seen reports out of Australia that they are going to deal directly with China in their own currency. So this drop in demand for dollars when the Fed is creating one trillion new dollars every year means the exchange value of the US dollar is untenable.
The first move out of the dollar is in to gold. In fact this has been going on since the beginning of the 21st century. But the Fed doesn’t want that because if the price of gold rises too rapidly in terms of dollars it scares everyone. Also, if you had a sharp movement out of dollars you would in fact see a sharp fall in the exchange value. At that point the Fed has lost control and the whole scheme blows up.
So that is what the situation is. They are desperate. They are having to drive down the obvious alternative to the dollar, which is gold, in order to affect the psychology of people throughout the world. But China sits on the largest collection of dollars in the world and they have to be worried about it. In fact they have been lecturing us for years about our irresponsible monetary and financial policies. So they will be very glad to get out