DENVER, Colo., June 18, 2002 (PRIMEZONE) -- Golden Star Resources Ltd. ("Golden Star" or the "Company") is pleased to confirm that it will be listed, and commence trading, on The American Stock Exchange ("AMEX") on Wednesday June 19, 2002 under the symbol "GSS."
The Company will ring the morning bell at the AMEX at the commencement of trading on Wednesday June 19, 2002.
Golden Star's AMEX specialist will be LaBranche & Co. LLC.
Peter Bradford, President and Chief Executive Officer of Golden Star said: "We are delighted to be listing on the AMEX as this will provide much better visibility and liquidity for the Company and our shareholders. This could not have happened at a better time for Golden Star as the whole gold sector is getting a lot more support and Golden Star has just emerged from several years of successful restructuring and consolidation, which have resulted in a much stronger company with robust revenue, earnings and development opportunities."
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