Dallas, Texas 02/04/2014 (FINANCIALSTRENDS) – In a recent development the Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) announced that it is planning to acquire some more mines in Ghana and West Africa. Though it is a penny stock and during the last traded session its stock price opened at $0.68 and for the entire day it kept on hovering around in the range of $0.58 – $0.69 but there is many industry insiders who are still hopeful of some recovery.
As per them the company’s potential buyers are situated in China and Japan and recent trend indicates that the demand for Gold is going to increase. The average volume trend of this share is around 2.50 million shares and during the last trading session the volume was about 2.30 million shares. The 52 week high of this stock is $1.92 and the 52 week low of this stock is $0.39. From here on a possible upside of 25 percent is possible and for that investors have to keep a 6 month horizon.
Something about Golden Star Resources Ltd. (USA) (NYSEMKT:GSS)
Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) is a company that is based in Canada and deals in the development, exploration and production of Gold. Currently the company has got 2 mines that are being operated in Ghana alongside the Ashanti Gold belt which is situated in West Africa and the name of the mines is Bogoso/Prestea and Wassa Hwini-Butre and Benso (HBB) mines.
As per the current estimated the company has about 4.31 million ounces proven and probable reserves of Gold. As per the company’s CEO they are also keen in developing some other gold exploration projects in exploration properties in Brazil and some other parts of South America. Some trade analysts such as JPMorgan has kept a hold rating on this stock and have also termed it as eye-catching stock that is currently available at rock bottom price tag.