| IPO Details |
| Company Profile |
| Summary of the Offer |
| Important Highlights |
| Important Dates |
| Advisers and Vendors |
| Historical Financials |
| IPO Prospectus |
| In the News |
| Name | Golden Star Resources Limited |
| Security Type | Ordinary |
| Ticker | GSR |
| Reuters Code | |
| ISIN | |
| Number of Employees | |
| Address | 10901 W. Toller Drive |
| Suite 300 | |
| Littleton, Colorado | |
| Website | www.gsr.com |
| Phone | +1-303-830-9000 |
| Fax | +1-303-830-9094 |
| info@gsr.com | |
| Nature of Business | Golden Star is a mid-tier gold mining company whose principal properties are located in Ghana, West Africa. The Company produced 201,407 ounces of gold in 2006 from its Bogoso/Prestea and Wassa open pit mines at an average cash operating co st of $382 per ounce. We expect to see production in the range of 270,000 to 295,000 ounces of gold for 2007. On Jul y 1, 2007, we declared the commencement of commercial production at the Bogoso Sulfide Processing Plant that incorporate s a sulfide/bio-oxidation circuit. This new plant enables the Company to economically treat the refractory ores found at Bogoso/Prestea, where some 80% of the ore is categorized as being refractory. Annual production at Bogoso/Prestea is ex pected to total 160,000 to 170,000 ounces of gold in 2007. The Wassa mine is a conventional open-pit, Carbon-in-Leac h (CIL) plant with expected production in the range of 110,000 to 125,000 ounces of gold in 2007. Through our acquisitio n of St. Jude Resources in late 2005, we were able to obtain the high grade Hwini-Butre and Benso properties that will s erve as satellite open pits for mine feed for the Wassa plant. Historically, Golden Star has maintained an aggressi |
| Offer Type | Initial Public Offering |
| Offer Method | Offer for Subscription |
| Purpose | GSR plans to use the proceeds from the Offer for the development of the HBB Properties and to pay for the costs of undertaking the public offer in Ghana, listing all of GSR’s already issued shares trading on the AMEX and the TSX on the GSE and listing the shares to be issued under this Offer on the GSE, AMEX and TSX. The HBB Properties are comprised of the Hwini-Butre concessions located approximately 30 kilometers south of Benso and the Benso concession located 40 kilometers south of Wassa. In April 2007, GSR completed a feasibility study for the development and mining of the HBB Properties for processing at Wassa and development activities are currently being initiated. |
| Utilization of Proceeds | |
| Target Investors | |
| Par Value of each share | GHC |
| Authorised Share Capital | 0 |
| Fully Paid Share Capital | 233,545,281 |
| Shares Offered for Sale | 3,170,000 |
| % of Fully Paid Shares Offered for Sale | 1.36% |
| Offer Price per Share | GHC 30,000.00 |
| Price Earning (PE) Ratio at Offer Price | |
| Dividend Yield at Offer Price | -- |
| Offer Open Date | 8:00 am Wednesday, Dec 05, 2007 |
| Offer Close Date | 5:00 pm Friday, Dec 21, 2007 |
| Allocation Begin Date | Thursday, Dec 27, 2007 |
| Allocations End Date | Thursday, Jan 03, 2008 |
| Results of Allocation Announced | Tuesday, Jan 08, 2008 |
| Dispatch of Share Certificates | Thursday, Jan 03, 2008 |
| Commencement of Trading on Ghana Stock Exchange | 10:00 am Monday, Jan 14, 2008 |
| Key Numbers | |
| Fiscal Year End | December |
| Currency | -- (--) |
| Sales (in millions) | -- |
| 1 Year Sales Growth | -- |
| Annual Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | December 31, 2006 | |
| Sales | -- | -- | -- | 128.69 |
| Pre-Tax Income | -- | -- | -- | 71.52 |
| Net Income | -- | -- | -- | 65.48 |
| Average Shares | -- | -- | -- | 207.50 |
| EPS | -- | -- | -- | 0.31 |
| Total DPS | -- | -- | -- | -- |
| Quarterly Income Summary (in millions except EPS data) | ||||
| -- | -- | -- | -- | |
| Sales | -- | -- | -- | -- |
| Cost of Goods | -- | -- | -- | -- |
| Gross Profit | -- | -- | -- | -- |
| Pretax Income | -- | -- | -- | -- |
| Net Income | -- | -- | -- | -- |
| Average Shares | -- | -- | -- | -- |
| EPS | -- | -- | -- | -- |
| Annual Balance Sheet Summary (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Cash & Equivalents | -- | -- | -- | 27.11 |
| Total Current Assets | -- | -- | -- | 90.53 |
| Total Liabilities | -- | -- | -- | 194.25 |
| Share Holder Equity | -- | -- | -- | 462.10 |
| Long Term Debt | -- | -- | -- | 66.91 |
| Annual Consolidated Cash Flow (in millions) | ||||
| -- | -- | -- | December 31, 2006 | |
| Net cash flows generated from (used in) in operating activities | -- | -- | -- | 5.40 |
| Net cash flows generated from (used in) in investing activities | -- | -- | -- | -92.12 |
| Net cash flows generated from (used in) in financing activities | -- | -- | -- | 24.12 |
GSR Mini Prospectus |
| Golden Star Resources Limited |
| Golden Star Completes Approvals for Ghana Stock Exchange Listing |
| Golden Star Resources Limited - 06 Dec, 2007 |
| Golden Star is pleased to announce that it has received all approvals necessary to list its shares on the Ghana Stock Exchange and has launched the formal offer for the sale of 3,170,000 shares at a price of 3 Cedis per share to the Ghana investing public. The offer is expected to close on December 21, 2007 and the shares are expected to commence trading on the Ghana Stock Exchange on January 14, 2008. A copy of the prospectus can be obtained from Strategic African Securities, the Lead Manager of the Offer. |
| Golden Star Resouces' Share Offer Period Extended |
| Golden Star Resources Limited - 24 Dec, 2007 |
| SAS Finance Group, the Lead Managers of Golden Star Resources Share Offer has announced an extension of the offer period from December 21, 2007 to January 18, 2008. The extension is aimed at allowing GSR employees to participate in GSR's Employee Special Sale and Purchase Programme, which was the key reason for the listing of GSR on the Ghanaian Market. As a result, the advisors to the GSR offer have advised Golden Star Resources Ltd to extend the offer period to January 18, 2008. By virtue of the extension, Ghanaian investors who missed the opportunity during the offer period would have another chance to participate in the offer. The share price closed at $3.50 (GH˘3.36) on the AMEX on December 21, 2007 which is well above the GH˘3.00 per share Initial Ghana Offer. |