Golden Star Resources announces sale of Bogoso-Prestea Gold Mine for $95m

The mining company, Golden Star Resources has announced the sale of its Bogoso-Prestea Gold Mine.

In a press release copied to ghanabusinessnews.com Monday July 27, 2020, the company says it has entered into a binding agreement to sell 90 per cent of its interest in the Bogoso-Prestea Gold Mine in Ghana to Future Global Resources Limited for a price of $95 million.

According to Golden Star the sale will strengthen is balance sheet and allow the company to accelerate the growth and development of the large resource base at the Wassa mine, and increase exploration activities in the wider Wassa-HBB project area.

“Following the satisfaction of the closing conditions in the Agreement, including obtaining the required government approvals, the Transaction is expected to complete by no later than September 30, 2020,” the release said.

By Emmanuel K. Dogbevi