Golden Star Resources has decided to wait until partner Placer Dome (TSE) has finalized plans for development of the Omai gold project in Guyana before going ahead with a previously announced public offering. Those plans were delayed recently when the government of Guyana extended the deadline in which Placer Dome must complete drilling on the project’s Wenot Lake zone to April 30.
Geological reserves at Omai stand at 8.5 million cubic metres, grading 0.52 grams per cubic metre.
The preliminary prospectus for a 2-stage financing designed to raise $10 million for exploration at Golden Star’s Guyanese gold and diamond projects was filed Jan. 12.
However, Golden Star said it is planning to file a final prospectus regarding the units to be issued to special warrant holders who acquired special warrants under a $3.5-million private placement which closed in December.
The private placement increased Golden Star’s cash and short-term investment position to more than $5.6 million.
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