DALLAS, May 11, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Golden Star Resource Ltd. (AMEX:GSS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/GSS
Golden Star Resources Ltd. (GSS) is an international gold mining and exploration company that produces gold in Ghana, West Africa. Through its subsidiaries, it owns a controlling interest in four significant gold properties in southern Ghana: The Bogoso/Prestea property, Wassa property, Prestea Underground property and Hwini-Butre and Benso concessions (HBB Properties).
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In the report, the analyst notes:
"The Company posted net income of $3.9 million or $0.015 per share compared to a net loss of $1.1 million for the first quarter of 2009, gold revenues for the quarter of $103.3 million representing an increase of 18% over first quarter of 2009, and quarterly gold sales of 92,938 ounces for the first quarter of 2010, a 4% decrease from the first quarter of 2009.
"The Company's exploration budget for 2010 has been increased to $18 million compared to $9 million that was spent in 2009. GSS said that approximately $14 million of this is planned to be spent in proximity to operations with the intent to expand its mineral reserve and resource base. During the first quarter of the year, exploration activities were concentrated notably at the Buesichem and Benso pit areas. Furthermore, an airborne geophysical survey was conducted over the HBB concession areas. When the results of this data are received, it will be analyzed to prioritize future exploration targets."
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