Golden Star Resources set to double down efforts on Wassa Mine

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President and CEO of Golden Star Resources (GSR) Limited, Andrew Wray

… budget set for 100% rise in 2021

President and CEO of Golden Star Resources (GSR) Limited, Andrew Wray, has reaffirmed his company’s commitment to exploration of the Wassa underground mine, describing it as a “fantastic body of resources” with an enormous capacity for growth.

According to him, not only is the site – in which Golden Star has a 90% stake and the government of Ghana, 10% – brimming with potential, but there are indications that the surrounding areas of the Ashanti Gold Belt where it is situated hold a number of prospective mines which must be investigated with the highest ethical standards being upheld.

Speaking to a select group of media persons, he revealed that as testament to Golden Star’s commitment to the Wassa Mine, the tentative budget for 2021 should see an approximately 100% rise from the US$7million budgeted for 2020 to US$14million for 2021.

While the figures are yet to be finalised, he said: “If we look at the number of targets and the quality of these targets, it justifies a heavier investment because it gives us a better chance of identifying more resources and giving more life to our operations. We are on the Ashanti Gold Belt which has proven, historically, to be a place where there are big gold deposits; so we’re hopeful that we can discover the next Wassa.

“We don’t know at this point its entire potential, but the only way we are going to find out is if we really invest and start drilling it much more aggressively, which is going to require investment – but that will help us gauge the future growth of that mine.”

He hinted that the comparatively high level of economic and political stability in the country has been crucial to the confidence expressed by Golden Star, as there is a sense of a fair degree of safety for the investments made.

Speaking of the investments, he added that while the pandemic rages the company has been active in building a new plant to help manage stability underground; as well as a pumping station underground and a workshop aimed at setting the mine to be longer-life asset.

Furthermore, he stressed the lengths to which GSR has gone to ensure health and safety for personnel and the environment – highlighting the use of cemented paste backfill technology, which has been described as a “developing method that can provide a better safety factor for underground mining environments and suitable preventive method for environment pollution by disposing of toxic waste minerals underground”.

Mr. Wray confirmed that the sale of Bogoso-Prestea Gold Mine to Future Global Resources (FGR) for US$95million had been completed by September 31, as scheduled.

He offered a conservative response to reports that some staff of the Bogoso-Prestea Gold Mine have sought compensation for what they deemed a change in their conditions of service, as the matter is before the courts; but gave assurance that due process has been followed with all parties and he is confident of vindication.

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