Golden Star content with flat output following open pit closure

Bogoso-Prestea gold mine. Pic courtesy of Golden Star Resources

GOLDEN Star, a Toronto-listed business that operates two gold mines in Ghana – Wassa and Prestea – produced flat year-on-year first quarter gold production notwithstanding some headwinds which were related to an earlier decison to suspend open pit production at its Wassa operation – a development that involved job losses.

Output came in for the period at 57,616 ounces of gold which was in line with the first quarter of 2017 in which 57,795 oz was produced. “The majority of the open pit workforce severance charges are now behind us and we believe that Wassa’s performance will strengthen further as the year progresses,” said Sam Coetzer, president and CEO of Golden Star in the firm’s first quarter update.

Wassa produced 35,506 oz whilst its other operation, Prestea produced 22,110 oz for the quarter. “At Prestea Underground, we remain confident in our chosen mining method and in our ability to deliver high grade production to plan,” said Coetzer. “The mining sequence continues to improve and we expect that by the middle of the second quarter of 2018, production will have begun to ramp up,” he said.

Golden Star is due to post its financial and detailed operating results for the first quarter on May 2.