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Golden Star Resources Ltd. (GSC.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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4.7700+0.0100 (+0.21%)
At close: 3:47PM EST
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  • H
    Hubert
    nice volume. another bid coming?
  • g
    g
    Sooooo.... if gold crosses the 1835 maginon line, and we see a run to 1900....or what i call "infinity and beyond"...does this get re prices>...a special dividend to exiting shareholders...or do the egyptian $$$ come in with a higher bid???....hmmmmm
  • G
    Giancarlo
    Andrew Wray, Chief Executive Officer of Golden Star, commented:

    "This offer, and the healthy premium being paid relative to recent trading levels, reflect the progress made in defining the future growth profile at Wassa as well as the repositioning of Golden Star with a streamlined corporate and financial structure. We believe that the transaction will benefit all of our stakeholders, with shareholders receiving an attractive premium in return for the future growth potential, and with Wassa forming part of Chifeng's larger portfolio of gold mines there will be a larger capital base to help deliver that growth. Chifeng has a proven track record as a responsible operator and is well positioned to build on the platform and reputation we have worked hard to establish. We look forward to working with Chifeng over the coming weeks to close this transaction and transition to the new team."

    Lyu Xiaozhao, President of Chifeng, commented:

    "We would like to thank the Board of Directors, and management team of Golden Star for supporting Chifeng with this important transaction. We are delighted to acquire Golden Star and its Wassa gold mine in Ghana which hosts a very significant gold resource endowment. Our team is very enthusiastic about working at Wassa and we are very confident in our ability to build on the solid foundations that Golden Star has established. We intend to invest significant financial and human capital into Wassa to realize the mines' full potential and in doing so expand our operating footprint into West Africa. Chifeng has an established track record as a safe and sustainable operator and is focused on creating value that will provide long-term benefits to all of our stakeholders including the people of Ghana."

    Key Benefits to Golden Star Stakeholders

    Premium of 37.2% to the 20-day VWAP of the Golden Star Shares on the NYSE American.

    All-cash offer that is not subject to a financing condition.

    Strong deal certainty with voting support agreements entered into by:

    Removes future dilution, commodity, expansion and execution risk.

    Places Wassa into a larger platform with the financial capability to accelerate investment in growth, to the benefit of all of our Ghanaian stakeholders.

    Chifeng has agreed to fully respect employment agreements and the terms and conditions of employment of all Golden Star employees. To that effect, within six months of the closing of the Transaction, Chifeng intends to complete a restructuring and has committed to make all severance payments due to such employees as part of such restructuring. Likewise, the current community engagement and CSR programmes around Wassa will continue to be a key focus for Chifeng.
  • E
    Eric
    And now, if there is a great gold rally, we'll miss out on that as well.
    How appropriate.
    Dog meat stock and management.
  • N
    Nicholas
    How come December calls @$4 got a bid? And May $5 calls are still getting a bid?
  • R
    Rob
    Gss was undervalued and I think 3.91 is a steal for the Chicom's. They paid a 24% premium on a snapshot in time . Au is going up next year imo. Andy just wants out? If you think I am not seeing the forest for the trees please enlighten me as I'm scratching my head on this deal
  • R
    Rob
    So, I realize I have posted more today than the 15 years I have owned GSS. So my guess is earnings are in the tank so this deal will look good. Other opinion, earnings rock and this is a green flag moment to get other bids. I can't understand the other Western African Miners allowing China in without a fight and really hope this second opinion is right.
  • R
    Rob
    I am reposting this as I think it may have got lost.
    1) Why isn't this at 3.91 ?
    2) Do we just hang on to the stock and when it closes out, do we automatically get 3.91 a share when we wake up?
  • R
    Richard
    Higher Bid possible but very unlikely. All cash offer is hard to top with a share-based offer, and the kind of mid-tier companies that would want Wassa don't have 600M in cash laying around. That leaves the majors, maybe a south African one or somebody already in Ghana like NEM, but that is very unlikely to happen. I'd say possibility of higher bid is less than 5%.
  • W
    WILLIAMB
    Well now....after TODAY'S press release.....You know I have to say it...Thank GOD fo Wassa!!! Gonna be a good day. God bless, Bill.
  • J
    Jimbob
    I'm out, never coming back, too lmuch time for such little gain. Moved to FSM
  • R
    Rob
    Trying to find Royal Golds stake in this new development?
  • R
    Rob
    We know the AU/AG market is manipulated but the 1.2 trillion package that just passed should push prices way up. Jim Sinclairs 2025 Golden Angel SHOULD come into range.
  • E
    Eric
    So this explains the unusual trading activity lately. Spikes over $3 and huge volume.
    The shorts were tipped off and traded on inside info.
    Will anyone go to jail?
    Dog meat stock.
  • D
    Don
    I see a major turnaround here with this one.....
  • R
    Richard
    "Ben is also well placed to assist in the advancement of our growth strategy as we look to expand the business outside of Wassa."

    Interesting quote
  • J
    Joris
    If you sell now do you get automatticaly 3,91 shareprice ?

    Because i see now a prive of 3,65
  • J
    J
    potential grow to 6.50-6.90
  • W
    Woody
    The fix is in, GSS is going out @ $3.91/share in Jan 2022 to Chifeng. Any arbitrage lovers would do well to take advantage since it looks like it can still be bought at least $.10 below that. So a whale who can buy 1M shares would make $100k off this in Jan 2022.
  • J
    Jimbob
    what's going on?