Report of Foreign Issuer (6-k)
July 06 2015 - 7:39AM
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
July 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: July 3, 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 July 3rd - Update on Bogoso Refractory Business |
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Exhibit 99.1
Update on Bogoso Refractory Business
TORONTO, July 3, 2015 /CNW/ - Golden Star is pursuing
a strategy of transforming to a low cost non-refractory gold producer. In line with this strategy, the refractory mining
and processing operations at Bogoso were due to be closed in the fourth quarter of 2015. Expectations were that this operation
would produce 145,000 - 155,000 ounces of gold in 2015 at a cash cost of between $870 and $960 per ounce.
Due to frequent voltage fluctuations in the grid power supply
over the last three months the ball mill at the Bogoso refractory plant has sustained repeated significant damage culminating last
week in a complete failure of the ball mill motor. A replacement motor for the ball mill is being refurbished and is expected
to be on site next week. This downtime at the plant impacts bacterial activity and gold recovery in the BIOX®
circuit.
The cumulative impact on throughput at the mill and the resulting
impact of such throughput issues on the cost structure compels management to review its options at Bogoso and an early closure
of the refractory operations is being contemplated. This is expected to have a negative impact on production and costs for
the full year. Further guidance will be provided after this review.
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. 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.
Cautionary note regarding forward-looking information
This report contains "forward looking information"
within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995, concerning the business, operations and financial performance and
condition of Golden Star. Generally, forward-looking information and statements can be identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes" or variations
of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation (or grammatical variations) thereof. Forward-looking information and statements
include, but are not limited to, information or statements with respect to: Golden Star's ability to meet its production guidance;
the transformation to a low cost non-refractory gold producer and the timing thereof; the replacement of the motor at the Bogoso
refractory plant; and the impact of downtime at the Bogoso refractory plant on bacterial activity and gold recovery in the BIOX®
circuit.
Forward-looking information and statements are made based
upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements
of Golden Star to be materially different from future results, performances or achievements expressed or implied by such statements.
Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment
in which Golden Star will operate in the future, including the price of gold, anticipated costs and ability to achieve goals. Forward-looking
information and statements are subject to known and unknown risks, uncertainties and other important factors that may cause the
actual results, performance or achievements of Golden Star to be materially different from those expressed or implied by such forward-looking
information and statements, including but not limited to: risks related to international operations, including economic and political
instability in foreign jurisdictions in which Golden Star operates; risks related to current global financial conditions; risks
related to joint venture operations; actual results of current exploration activities; environmental risks; future prices of gold;
possible variations in Mineral Reserves, grade or recovery rates; mine development and operating risks; accidents, labor disputes
and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development
or construction activities and risks related to indebtedness and the service of such indebtedness. Although Golden Star has
attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking
information and statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There
can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information
and statements. Forward-looking information and statements are made as of the date hereof and accordingly are subject to change
after such date. Forward-looking information and statements are provided for the purpose of providing information about management's
current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment.
Golden Star does not undertake to update any forward-looking information and statements that are included in this news release
except in accordance with applicable securities laws.
SOURCE Golden Star Resources Ltd.
%CIK: 0000903571
For further information: 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 12:45e 03-JUL-15
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