- Wassa and Prestea
The Wassa Gold Mine is a surface and underground project located within the southern portion of the Ashanti Greenstone Belt in the Western Region of Ghana. The mine is approximately 35 km northeast of the town of Tarkwa and 80 km north of Cape Coast.
The Bogoso and Prestea properties comprise a collection of adjoining mining concessions that together cover a 40 km section of the Ashanti gold district in the central eastern section of the Western Region of Ghana, with the processing facilities situated approximately 10 km south of the town of Bogoso. The Bogoso mine is located approximately 35 km northwest from the town of Tarkwa. The Prestea underground mine is located 16 km south of the Bogoso mine, and the Prestea surface deposits lie to the southwest of the town of Prestea and 20 km from the Bogoso mine.
Reserves (December 31, 2015):2
CY 2015 Sales: 3
Operator production guidance CY2016: 4
- This is a metal stream whereby Golden Star will deliver 9.25% of gold produced, until the earlier of (i) December 31, 2017 or (ii) the date at which the Wassa and Prestea underground projects achieve commercial production, at which point Golden Star will deliver 10.5% (or to 10.9% if the total investment increases to $150 million). The purchase price for gold ounces delivered is 20% of the spot price until 240,000 ounces have been delivered (or 250,000 ounces if the total investment increases to $150 million), and thereafter the stream percentage decreases to 5.5% of gold produced at a purchase price equal to 30% of the spot price.
- At a gold price of $1,100 per ounce.
- The stream at Wassa and Prestea was acquired during the quarter ended September 30, 2015.
- Guidance figure shown is payable gold in doré.