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Golden Star Resources Ltd (GSS) filed Quarterly Report for the period ended 2011-09-30.
Golden Star Resources has a market cap of $571.5 million; its shares were traded at around $2.21 with and P/S ratio of 1.3.
This is the annual revenues and earnings per share of GSS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of GSS.
Highlight of Business Operations:
Results for the three months ended September 30, 2011 include a net loss attributable to Golden Star shareholders (“net loss”) of $10.2 million or $0.039 per share, compared with net income of $15.9 million or $0.062 per share in the same period of 2010. Third quarter 2011 gold sales totaled 73,861 ounces, down from 84,638 ounces sold in the same quarter of 2010. Our average realized gold price increased to $1,704 per ounce, up 39% from $1,225 in the third quarter of 2010. Gold revenues increased to $125.9 million in the third quarter of 2011, up from $103.7 million in the same period in 2010. While ounces sold were lower than in the same period of 2010, higher gold prices resulted in the increase in gold revenues.Results for the nine months ended September 30, 2011 include a net loss attributable to Golden Star shareholders of $9.3 million or $0.036 per share, compared with net income of $1.1 million or $0.004 per share in the same period of 2010. Gold sales totaled 230,309 ounces in the first nine months of 2011, down from 277,988 ounces in the same period of 2010. The average realized gold price increased to $1,529 per ounce, up 30% from $1,177 per ounce in the first nine months of 2010. The gold price increase in the first nine months of 2011 more than offset the revenue impact of lower ounces sold, resulting in a $25.0 million increase in sales revenue as compared to the same period in 2010.
Bogoso/Prestea's third quarter 2011 revenues totaled $68.7 million, up $14.7 million from $54.0 million in the third quarter of 2010. While ounces sold were lower than a year earlier, increases in the realized gold price more than offset this, resulting in higher gold revenues. Third quarter 2011 realized average gold price rose to $1,701 per ounce, up from $1,220 per ounce a year earlier. Bogoso sold 40,376 ounces in the third quarter of 2011, down from 44,279 ounces in the third quarter of 2010. Decreases in tonnes processed and plant feed grade, as compared to the same quarter of 2010, contributed to the drop in ounces sold. While ounces sold were down from a year earlier, third quarter ounces sold were up from 28,021 ounces in the fourth quarter of 2010, 30,576 ounces in the first quarter of 2011 and from 34,077 ounce in the second quarter of 2011.
Bogoso/Prestea's revenues totaled $162.8 million in the first nine months of 2011, down from $168.2 million in the same period of 2010. The decrease was a result of a drop in the number of ounces sold, partially offset by higher gold prices. Bogoso's realized gold price averaged $1,550 per ounce in the first nine months of 2011, up from $1,177 per ounce a year earlier. Bogoso's sales decreased to 105,029 ounces in the first nine months of 2011, down from 142,952 ounces in the first nine months of 2010. Decreases in tonnes processed and plant feed grade were the major factors contributing to the drop in ounces sold.
Wassa sold 125,280 ounces in the first nine months of 2011, down from 135,036 ounces in the first nine months of 2010. While plant throughput was higher than in the first nine months of 2010, plant feed grades dropped to 2.04g/t, down from 2.36g/t in the first nine months of 2010, offsetting the improvement in processing rates. Ore grades fell as mining proceeded into lower grade areas of the Wassa and HBB ore bodies during the first nine months of 2011. Higher realized gold prices offset the lower ounces sold to yield revenues of $189.4 million, up from $159.0 million in the first nine months of 2010. Wassa's realized gold price averaged $1,512 per ounce in the first nine months of 2011, up from $1,178 per ounce a year earlier.
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