Golden Star Up 16.07 Percent on Q4 and Full-year Results

Golden Star Resources Ltd. (TSX:GSC) announced Q4 and full-year 2014 productions results for its Bogoso and Wassa mines. It also said that in 2015 it plans to produce 250,000 to 275,000 ounces of gold.

At close of day, the company’s share price was up 16.07 percent on the back of the news, at $0.325.

As quoted in the press release:

In the fourth quarter of 2014, Golden Star produced and sold 72,085 ounces of gold, which was a 19% increase on the prior quarter. Of this, 25,831 ounces of gold were from Wassa and 46,254 ounces were from Bogoso. For the full year 2014, Wassa’s gold sales were 112,831 ounces and Bogoso’s were 147,957 ounces.

The Company closed 2014 with a cash and cash equivalents balance of US$39 million. This was after the drawdown of US$10 million in cash from the Ecobank loan and the payment of US$1.4 million for equipment required for the development of an underground operation at Wassa.

Click here to read the full Golden Star Resources Ltd. (TSX:GSC) press release.