Golden Star Reports Fourth Quarter and Full Year 2015 Financial Results: Significant Reduction in Costs Realized in the Fourth Quarter
See more at: http://www.gsr.com/i...h.z1yJVqtR.dpuf
For the first time in 15 years, I'm actually taking these guys seriously.
I rate GSS as market outperform.
http://www.gsr.com/
They were locked in to a high cost structure until recently.
The issue has been finally addressed in a convincing manner, with
improvements to continue.
221,653 ounces of gold were sold during the year, exceeding revised guidance
51,378 ounces were sold in the fourth quarter
All-In Sustaining costs for 2014 were $1252, reduced to $1158 for 2015.
All-in sustaining costs were $1,158 per ounce for the year and $896 per ounce in the fourth quarter.
"Outlook
The Company remains focused on transforming into a low cost gold producer. During 2015, with the suspension of the refractory
operation, the Company's efforts to lower production costs are being realized. Costs in the fourth quarter were a five year Company
record."
"Production in 2016 is expected to be between 180,000 – 205,000 ounces of gold with costs of $815 - $925 per ounce."
(Cash costs)
They do have a streaming agreement with Royal Gold.
The Webcast on February 24, 2016:
02.24.2016 Webcast - 10:00 AM EST
