President and Chief Executive Officer (CEO) of Golden Star Resources Limited (GSRL), Mr Sam Coetzer, has stated that both underground mines in Prestea and Wassa in the Western Region are now into commercial production which outcome will contribute greatly to the socio-economic growth and development of the country.
According to him, the gold mining company has clearly distanced itself from its peers.
“We are one of the few primarily underground producers in the West African gold sector and as a result, we benefit from a significantly lower risk profile.
“Wassa Underground is continuing to ramp up robustly, delivering stronger grades and productivity than expected,” he added.
According to him, the Prestea Underground was now finding its stride and added that the company looks forward to improved results in the second quarter of 2018.
He added: “Our focus for 2018 continues to be operational delivery coupled with demonstrating our organic growth potential through exploration, particularly in the light of our recent success at Wassa Underground.”
He said: “with the majority of the severance payments behind us and with our operations on track to achieving a consolidated full year 2018 guidance, we are well-positioned to strengthen our balance sheet and deliver value for shareholders.”
According to him, the stronger than expected gold production from the Wassa complex (35,506 ounces) was due to the continued ramping up of the Wassa Underground Gold Mine.
Mr Coetzer pointed out that the Prestea Underground’s performance has improved significantly since the start of the second quarter of 2018.
Story: News Desk