TORONTO, June 26, 2019 /PRNewswire/ - Golden Star
Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE:
GSR) ("Golden Star" or the "Company") announces that
Daniel Owiredu will be stepping out
of the role of Executive Vice President and Chief Operating Officer
("COO") of Golden Star with effect
from July 8, 2019, and will be
replaced in that role by Graham
Crew. During the transition period until December 31, 2019, Daniel will take on the role
of President of the Company.
As of January 1, 2020, Mr. Owiredu
will step down as President and be appointed as Chairman of the
Boards of Directors of the Company's subsidiaries, Golden Star (Wassa) Limited and Golden Star (Bogoso/Prestea) Limited.
Mr. Crew has over 25 years of operational, technical and
corporate experience in the mining industry. Most recently he was
General Manager Mining for Barminco Limited, a global underground
mining services company. He previously held the positions of
General Manager of the Bulyanhulu mine for Acacia Mining,
Operations Manager for La Mancha's Australian operations and has
held a number of other technical and operational positions for
mining companies in various geographies. Graham has a strong track
record of transforming operations through the development of vision
and strategy with disciplined implementation. His broad experience,
which also includes construction projects, due diligence, project
evaluation and project financing, is expected to significantly
contribute to optimization of Golden
Star's current assets, and in developing the future growth
and success of the Company. Mr. Crew holds a Bachelor's degree in
Mining Engineering from West Australian School of Mines and is a
Fellow of the AusIMM. He will relinquish his position on the Board
of Directors of Golden Star once he
takes over as COO and will be based in London.
In addition to this change, Martin
Raffield will be leaving his position as Executive Vice
President, Chief Technical Officer of the Company with effect from
September 30, 2019. Dr. Raffield's
successor will be appointed in due course.
Andrew Wray, President and CEO of
Golden Star commented: "I would like
to recognize Martin's significant contribution to the development
of the Company over a number of years as the business has evolved
into a focused underground mining company with an asset base that
provides long life, high quality growing production. Whilst Martin
will move on to new challenges, we are in the fortunate position of
having Daniel very much remain in the Golden Star family, first as President working
directly with me, and then next year as Chairman of our two
Ghanaian operating company Boards where we will continue to count
on his wise counsel and technical expertise. In Graham, we have
gained someone with the skill set to build on the company's strong
existing platform and to take the company to next phase of its
development and I welcome him to the team."
Golden Star is an established
gold mining company that owns and operates the Wassa and Prestea
underground mines in Ghana,
West Africa. Listed on the NYSE
American, the Toronto Stock Exchange and the Ghana Stock Exchange,
Golden Star is focused on delivering
strong margins and free cash flow from its two high-grade, low cost
underground mines. Gold production guidance for 2019 is
220,000-240,000 ounces at a cash operating cost per ounce of
$620-$680. As the winner of the PDAC 2018
Environmental and Social Responsibility Award, Golden Star is committed to leaving a positive
and sustainable legacy in its areas of operation.
Cautionary note 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 "forward looking
information" within the meaning of Canadian securities laws.
Forward looking statements and information include, but are not
limited to, statements and information regarding: future
appointments to the Company's management team and the boards of
directors of the Company and its subsidiaries, Golden Star (Wassa) Limited and Golden Star (Bogoso/Prestea) Limited; and the
Company's 2019 forecasted gold production and cash operating costs.
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 thereof.
Investors are cautioned that forward-looking statements and
information are inherently uncertain and involve risks, assumptions
and uncertainties that could cause actual facts to differ
materially. 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
Management's Discussion and Analysis of financial conditions and
results of operations for the year ended December 31, 2018, and our annual information
form for the year ended December 31,
2018, each of which is filed on SEDAR at www.sedar.com. The
forecasts contained in this press release such as production
guidance 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. 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.
SOURCE Golden Star Resources Ltd.