Just received an answer from the company regarding the F-10. The F-10 filed last Fri was simply a replacement of the shelf prospectus that was previously on file. The company is not expecting to do a financing in the near term. It is very common for companies to have an active shelf prospectus in place, it mentioned. The company is fully funded for the development of both underground mines, it stressed.
Prestea Drill Results....as expected, but only the beginning of a great news to come from this mine. Since 1873, there has been mining of gold deposit in Prestea. Over 9 million oz came from this area. Last drilling at Prestea was done in 2004 when gold was around $400/oz . The drill program was a scaled down, very limited program. Prior to that, the last drilling at Prestea mine goes way back, almost 50 yrs. I think that given today's technology etc., the company will show a much greater high grade deposit. I am very excited to see the drill results when they start drilling the MAIN Reef. GSS has a land package that is one of the biggest in Ghana, over 1,000 km2, right on the Ashanti belt. Also, dont forget that GSS can very easily double+ its production, if enough ore available. The cost of the expansion is small. The hauling and ore processing facilities for this rate are all in place!! I have a great respect for Sam Coetzer and his statement last qtr summarizes the GSS potential well.
"One of the reasons I joined Golden Star was because of the excellent infrastructure and a huge under explored land package. I believe that through our exploration programs we will be able to significantly increase annual production rates and better utilize the current excess capacity within our plants"
....stay the course and we shall be rewarded.
This drilling identifies about 4-5 more stopes on the top level. GSS should get about 9K ounces per stope so about 40K ounces or an extra half year of mine life. More importantly it validates their model of the mine and starts to open up the idea of pumping more than 90K ounces a year through the mine.
FWIW I added 11,500 trading shares at .697 Nothing wrong with making a few bucks while waiting for gold (and my core position) to explode higher... Love the Wassa and Prestea initial drilling results. We should be gaining traction after this news IMO.
The better the news, the lower we go, the higher the spot of gold, the lower We go. Slow bleeding every day. I have been in GSS a long time and am at a loss to explain this action. Who are the sellers and WHY ?
500K ounces every 200M of on trend discovery is the GSS stated rule of thumb for Wassa. This is 200M to the South (future) and 50M to the North (immediate opportunity). So 625K ounces or about 3 more years of mining. Nice.
i think why were in the green is because gold bounced off its 50 dma and the dollar is down.sometimes I think it's more the dollar falling than gold going up'
Prestea drilling results announced and they seem remarkable!! Truly Sam has much to be shared in Denver. As I have said if we are frustrated with the share price he MUST be so very much more. No earnings were released early last quarter, maybe that will change.... Keep the faith on this one. God bless, Bill.
Golden Star Resources Ltd. (GSS – Free Report) is an un-hedged gold producer which owns the Wassa gold project in Ghana and controls a number of gold exploration properties in West Africa. Its expected earnings growth for the current year is 50%. Golden Star Resources carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Well my friends! Looks like we have some wonderful drilling results to brag about!! Good work Sam.God bless, Bill.
Believe, the current F-10 is a re-file of 2014 F-10 to have the "charge card" ready just in case. I do NOT believe there is any imminent dilution being readied....
F-10 Form.... The 2014 F-10 was in effect for 25 months Golden Star Resources Ltd. (the “Company”, “Golden Star”, “we”, “us”, or “our”) may offer and sell from time to time our common shares (“Common Shares”), First Preferred shares (“Preferred Shares”), warrants (“Warrants”) to purchase any of the other securities that are described in this short form base shelf prospectus (the “Prospectus”) or any supplement hereto; debt securities; or any combination thereof for up to an aggregate offering price of U.S.$250,000,000 (all of the foregoing collectively, the “Securities” and individually, a “Security”), in one or more transactions during the 25-month period that this Prospectus, including any amendments hereto, remains effective.
2017 -current F-10 identical ..effective date = future date , after filing Amendment....Shelf life 25 months
Can anyone shed some light on what an F-10 form is and if it's anyway related to why the price tanked after hours. I am aware that after hours trading means little 99% of the time, but in rare cases, where something negative is presented to affect the stock, it serves as directional guidance. To be honest, I am concerned at this point - I was expecting a drop to .70 next week down after not seeing quite the bounce off the Fib retrace i mentioned in my past quote, but there is good chance Gold will be dropping hard going into FOMC next week which means.... once again... GSS's momentum will rot again. Keep in mind, we are getting into Q4 where gold usually does not do well. Discussion is welcome
GSS after hours Fri around 17k shares...notice a big trade of over 740k shares right at 4pm et taking the price back up to 74c. Go to GSR home site and look at F10 filing from 2014..... F10 filed on Fri is not in a prep. for dilition, I am certain. As Peter said, get it filed and shelve it, just as the did in 2014
Fib retracement 61.8 of this move is at $.7273 ...... hoping she bounces from there. With gold a little top heavy and moving sideways until FOMC, I really hope GSS doesn't lose momentum.... Keep in mind, if we do move, we have strong resistance at around .90c which comes from the 2016 highs. Good luck to all
Where gold is at today 68 is the right price at ah,
GSS price action and direction makes absolutely NO sense. We all agree on that and certainly no one more than our CEO Sam Coetzer. Sam has been beating that drum loud and clear for some time, so if we are frustrated, Sam has got to be frustrated to the 10th power. Whatever was budgeted to drilling and exploration is no doubt an important number but if it were me, I'd add a few more $ to that account. To assure that we all expect to be very good results will we be outstanding. Results that will leave whoever the heck has been selling, reaching for a box of tissues. Keep up the good work Sam. God bless, Bill.
Gold is 1330, the share price should go up but it is going down. I wish the day traders stayed the #$%$ away
Thank you to those sellers today. Topped up my position by another 5000 shares. Be patient and we'll see a dollar+ by year end
on website under capital structure... 7% Convertible Debentures were issued in August 2016 for US$65 million. Interest on the debentures is payable semi-annually on February 1 and August 1 of each year until maturity on August 15, 2021. The debentures are, subject to certain limitations, convertible into common shares at a conversion rate of 1111.1111 common shares of the Company per US$1,000 principal amount of 7% Convertible Debentures, which is equivalent to an initial conversion price of approximately US$0.90 per common share. On maturity, the Company may, at its option, pay the principal amount in cash or by issuing common shares at a 7% discount to the current market price at that time. Golden Star Convertible Debentures are traded over the counter.
wow. After hours action $GSS Gold and Silver are on Fire! Buy and Hold. The rally about to begin to $2000 #Gold $100 #silver imo