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Golden Star Meets Guidance, To Focus On High-Margin Ounces In 2018

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Golden Star Resources (NYSE American: GSS; TSX: GSC; GSE: GSR) says it achieved production guidance for 2017. Officials list a 38% increase in consolidated gold production in to 267,565 ounces, plus a 34% year-on-year increase in the fourth quarter to 71,769 ounces. The company lists 2018 guidance of 230,000 to 255,000 ounces, with plans to focus higher-margin ore. However, operating costs are expected to decline, Golden Star says. Consolidated all-in sustaining costs per ounce are expected to be 7% to 17% lower than the midpoint of the 2017 guidance range, putting them at $850 to $950. “I'm particularly pleased to see the strong results from Wassa Underground in the fourth quarter of 2017, including a 55% increase in grade compared to the third quarter, and I look forward to stronger production in 2018 as we increase the mining rate further,” says Sam Coetzer, president and chief executive officer. “In 2018 our primary focus will be high-grade, high-margin underground ounces. Although production in 2018 is anticipated to be lower than in 2017, our operating cost guidance is also significantly reduced and thus we believe this strategy delivers the best value for all of our stakeholders.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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