Report of Foreign Issuer (6-k)
May 08 2015 - 4:17PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of
May 2015
Commission File Number 001-12284
GOLDEN STAR
RESOURCES LTD.
(Translation
of registrants name into English)
150 King
Street West
Suite 1200
Toronto, Ontario
M5H
1J9, Canada
(Address of
principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ¨ Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T
Rule 101(b)(7): ¨
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ¨ No x
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
Date: May 8, 2015
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GOLDEN STAR RESOURCES LTD. |
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By: |
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/s/ André van Niekerk |
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André van Niekerk Executive Vice
President and Chief Financial Officer |
EXHIBIT INDEX
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Exhibit No. |
Description of Exhibit |
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99.1 |
Press Release dated May 8th - Golden Star Announces Filing of Feasibility Study for Wassa Mine |
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Exhibit 99.1
Golden Star Announces Filing of Feasibility Study for Wassa Mine
TORONTO, May 8, 2015 /CNW/ - Golden Star today announces
that it has filed a technical report, prepared in accordance with National Instrument 43-101 regarding a Feasibility Study on the
development of an underground mining operation at its currently operating Wassa open pit mine in Ghana.
This technical report can be accessed under the Company's
profile at www.sedar.com and on the Company's website at www.gsr.com.
Golden Star announced the findings of this Feasibility Study
on March 26, 2015, the highlights of which are as follows:
| · | Internal rate of return of 83% estimated for the Wassa Mine at $1,200
per ounce gold price |
| · | Net present value, assuming a 5% discount rate , of $176 million estimated
for Wassa Mine, at $1,200 per ounce gold price |
| · | Pre-production incremental capital expenditure for Wassa Underground
estimated at $39 million |
| · | First production from Wassa Underground expected early 2016 and estimated
to continue into 2024 |
| · | LOM cash operating cost of $780 per ounce and all-in sustaining costs
of $938 per ounce estimated for combined Wassa operation |
| · | Payback at $1,200 per ounce gold price of 3.25 years |
The report, entitled "NI 43-101 Technical Report on a
Feasibility Study of the Wassa Open Pit Mine and Underground Project in Ghana", was prepared by SRK Consulting (UK) Ltd.,
under the supervision of Mike Beare CEng, BEng, ACSM, MIoM3 of SRK Consulting (UK) Ltd., a Qualified Person pursuant to National
Instrument 43-101.
COMPANY PROFILE
Golden Star Resources (NYSE MKT: GSS; TSX: GSC; GSE: GSR)
("Golden Star" or the "Company") is an established gold mining company that holds a 90% interest in the Wassa,
Prestea and Bogoso gold mines in Ghana. In 2014, Golden Star produced 261,000 ounces of gold and is expected to produce 250,000
– 275,000 ounces in 2015. The Company is financed to pursue brownfield development projects at its Wassa and Prestea
mines which are expected to transform these mines into lower cost producers from 2016 onwards. As such, Golden Star offers
investors leveraged exposure to the gold price in a stable African mining jurisdiction with significant development upside potential.
STATEMENTS REGARDING FORWARD-LOOKING INFORMATION
Some statements contained in this news release are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could
cause actual results to differ materially. Such statements include comments regarding: estimated post-tax internal rate of
return and net present value of Wassa mine (including assumed discount rates); the timing for first production from Wassa mine;
the life of mine at Wassa mine; pre-production capital costs for Wassa mine; and future work to be completed at Wassa mine.
Factors that could cause actual results to differ materially include timing of and unexpected events at the Bogoso non-refractory
processing plant; variations in ore grade, tonnes mined, crushed or milled; variations in relative amounts of refractory, non-refractory
and transition ores; delay or failure to receive board or government approvals and permits; the availability and cost of electrical
power; timing and availability of external financing on acceptable terms; technical, permitting, mining or processing issues, including
difficulties in establishing the infrastructure for Wassa mine; changes in U.S. and Canadian securities markets; and fluctuations
in gold price and input costs and general economic conditions. There can be no assurance that future developments affecting the
Company will be those anticipated by management. Please refer to the discussion of these and other factors in our Annual
Information Form for 2014. The forecasts contained in this press release constitute management's current estimates, as of
the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as
new information is received and that actual results will vary from these estimates, possibly by material amounts. While we
may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response
to any particular event. Investors and others should not assume that any forecasts in this press release represent management's
estimate as of any date other than the date of this press release.
TECHNICAL INFORMATION
The technical contents of this press release have been reviewed
and approved by Dr. Martin Raffield, P. Eng., a Qualified Person pursuant to National Instrument 43-101. Dr. Raffield is
Senior Vice President Technical Services for Golden Star.
SOURCE Golden Star Resources Ltd.
%CIK: 0000903571
For further information: on the Company, please visit www.gsr.com
or contact: Angela Parr, Vice President Investor Relations, +1 416-583-3800, investor@gsr.com
CO: Golden Star Resources Ltd.
CNW 15:33e 08-MAY-15
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