Denver-based Golden Star Resources (GSC-T, GSS-X) expects mining to resume within days at the Plant-North pit at the Bogoso-Prestea mine in Ghana, after that country’s Environmental Protection Agency recently gave the go-ahead.
Mining has already resumed at the Ablifa pit.
Mining at Plant-North had been suspended for around 4 weeks as Golden Star completed relocation of the Prestea police from their station adjacent to the southern end of the final phase 3 pit. The company also erected a fence around the planned pit and built a bypass road diverting traffic away from the southern end of the pit development.
During the suspension of mining, the Bogoso processing facility continued at full capacity fed with stockpiled ore and from ore mined at the newly re-opened Ablifa pit. Mining and processing at the Wassa mine, 35 km to the east, were uninterrupted.
The news sent shares in Golden Star 14, or 4.8%, higher to $3.08 in late afternoon trading in Toronto following the news on Nov. 1.
Golden Star recently agreed to acquire St. Jude Resources (SJD-V, STJUF-Q) via an all-share deal valued at US$118 million. Under the proposal, Golden Star will issue 0.72 of one of its own shares for share of St. Jude. When the dust settles St. Jude shareholders would own about 19% of Golden Star.
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