Cambior declines 5% option on Omai

Denver-based Golden Star Resources (TSE) will retain its 30% interest in the Omai gold mine in Guyana.

The company says that, at its request, Omai partner Cambior (TSE) has elected not to exercise its option to acquire an additional 5% common share equity interest in Omai Gold Mines, corporate owner of the project, from Golden Star.

Cambior, the operator, has a 65% interest; the government of Guyana, 5%. The option required Cambior to pay an exercise price equivalent to the value of the shares at the start of commercial production.