DENVER, June 14, 2002 (PRIMEZONE) -- Golden Star Resources Ltd. ("Golden Star" or the "Company") (TSE:GSC) (OTCBB:GSRSF) is pleased to announce that it has received approval to be listed on The American Stock Exchange ("AMEX"). The Company expects to ring the opening bell at, and commence trading on, the AMEX on Wednesday June 19, 2002 under the symbol "GSS." Golden Star's AMEX specialist will be LaBranche & Co. LLC.
Peter Bradford, President and Chief Executive Officer of Golden Star said: "This listing marks Golden Star's emergence from several years of restructuring and consolidation resulting in a much stronger company with robust revenue, earnings and development opportunities. Everyone in the Company is delighted to be back on the AMEX and the better platform and visibility that this delivers to the Company and our shareholders."
This approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the Exchange, and may be rescinded if the Company is not in compliance with such standards.
Golden Star will continue trading on the Toronto Stock Exchange under the symbol "GSC." Trading of the Company's shares on the Over The Counter Bulletin Board under the symbol "GSRSF" will be discontinued at close of business on Tuesday June 18, 2002. The Company has approximately 65 million shares outstanding with a current market capitalization of approximately $100 million.
Golden Star has a 90% interest in the Bogoso/Prestea open-pit gold mine in Ghana, a 45% managing interest in the Prestea underground mine in Ghana, and is in the process of acquiring a 90% interest in the Wassa gold project in Ghana. In addition, the Company has other gold exploration interests in the Guiana Shield in South America and in West Africa.
The statements contained in this press release are both historical and forward-looking in nature. The forward-looking statements involve risks and uncertainties including those relating to exploration, the establishment of reserves, the recovery of any reserves, future gold production, future costs of production, future permitting and future operations. Please refer to a discussion of these and other risk factors in Golden Star's Form 10-K and other Securities and Exchange Commission filings.
NOTE: all currency amounts in United States dollars unless otherwise stated