Investigation of Golden Star Resources Ltd.
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Golden Star Resources Ltd. (GSS) Reveals Disappointing Second Quarter Financial Results
In February 2019, Golden Star claimed it was seeing “tremendous improvement” in operational metrics and performance of the Prestea mine and that “blasting” issues had been rectified. However, on July 31, 2019, Golden Star released disappointing second quarter financial results, disclosing a cut to the Company’s production guidance and an increase in its cash operating cost estimates. Golden Star cited a laundry list of issues for its poor financial performance, including the use of insufficient geological and geotechnical data and poor drilling strategies and techniques. On this news, Golden Star’s stock price fell 17% to close at $3.55.