Golden Star Resources Ltd. (GSS) Misses Q1 EPS by 4c, Revenues Beat

Golden Star Resources Ltd. (NYSE: GSS) reported Q1 EPS of ($0.02), $0.04 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $77.15 million versus the consensus estimate of $52.9 million.

Sam Coetzer, President and Chief Executive Officer of Golden Star, commented:

"During the second quarter of 2018, Prestea Underground delivered more ounces than the Prestea Open Pits, which is testament to the hard work and disciplined approach of our underground team. We expect to see further improvements during the coming months and we anticipate that Prestea Underground will achieve its nameplate production rate during the fourth quarter of 2018. We will also continue to right size this operation with the aim of reducing operating costs and generating a stronger cash margin. Wassa Underground delivered another impressive quarter, with both grades and tonnages exceeding our expectations. I am looking forward to releasing the Preliminary Economic Assessment for Wassa's Inferred Mineral Resources to gain a more thorough understanding of the full potential of this substantial deposit. After two quarters, we are on track to achieve our consolidated full year 2018 production and cost guidance and with our strategic relationship with La Mancha agreed, we are well-positioned to deliver significant value for our shareholders."

For earnings history and earnings-related data on Golden Star Resources Ltd. (GSS) click here.

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