Golden Star Resources Ltd. (USA) (NYSEMKT:GSS): Appoints Director of Investor Relations and Corporate Affairs


Dallas, Texas 09/23/2013 (Financialstrend) – Headquartered in Toronto, Canada and engaged in gold mining and processing, Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) is primarily engaged in acquisition, exploration, development, and operation of gold properties in Bogoso  town of Ashanti gold district in Western Ghana and other parts of West Africa as well as in Brazil, South America.

During the last week on September 17, 2013, Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) announced appointment of Angela Parr, having a more than a decade of professional experience as an investor relations in the natural resources sector, as its Director for Investor Relations and Corporate Affairs. Angela, having started her career in investment banking, has worked across sub-Saharan and West African gold mining sector and has proficient experience in iron ore, diamond, gemstone and gold mining.

On this appointment, President and Chief Executive Officer of the company, Sam Coetzer expressed that Angela as full time investor relations executive with her background and experience would be helpful in facilitating improved relations both with broader capital markets as well as with the company’s valued shareholders.

In August 2013, company announced its 2Q13 results mentioning heavy impairment charges at its Bogos and Wassa operations, the significant impact of gold price declines, halted operations at its Pampe open pit mine and guidance to undertake predefined capital expenditure projects despite disruption in cash flow. The company reported the worrisome net loss of $128.8 million during 2Q13, when compared to the reported net income of $0.04 million during 2Q12.

The stock of the company has plunged over 70% year to date.  Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) has 259.11 million total shares outstanding and market capitalization of approximately $126.4 million. The stock has traded between 52 week range of $0.4 on the lower side and $2.11 on the higher side. On Friday, September 20, 2013 the stock closed at $0.488, losing around 1.32% from its previous close.