Golden Star in black

Golden Star Resources (GSR-X) expects to report an operating profit on the strength of production from its 70%-owned Bogoso mine in Ghana.

In the fourth quarter of 1999, the mine produced 36,074 oz. gold, compared with 28,318 oz. in the previous 3-month period. Cash operating costs fell to US$152 from US$218 per oz.; total cash costs (including royalties), to US$161 from US$226. The improvements are attributed to lower stripping ratios and higher grades in the Boppo 2 and Boppo 3 pits.

In 2000, Bogoso is expected to crank out 114,000 oz. at US$184 per oz., while incurring exploration and development expenditures of US$4.2 million.

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