Modern Mining June 2018

WEST AFRICA

increase in mine operating expenses associated with Prestea Underground declaring commer- cial production on February 1, 2018 and the decrease in ounces sold in the first quarter of 2018 at the Prestea complex compared to the first quarter of 2017. The AISC per ounce in the first quarter of 2018 was US$S1 171, an increase of 20 % com- pared to the first quarter of 2017, as a result of an increase in capitalised development costs at Wassa Underground. Sustaining capital incurred at Wassa Underground in the first quarter of 2017 was very low as mining opera- tions had not yet accessed the B Shoot zone. GSR’s production guidance for 2018 is for Wassa and Prestea to produce a total of between 230 000 and 255 000 oz at an AISC of between US$850 and US$950 per ounce. “With both underground mines now in commercial production, Golden Star has dif- ferentiated itself from its peers,” says Sam Coetzer, President and CEO of GSR. “We are one of the few primarily underground produc- ers in the West African gold sector and, as a result, we benefit from a significantly lower risk profile. Wassa Underground is continuing

to ramp up robustly, delivering stronger grades and productivity than expected. Prestea Underground is now finding its stride and we look forward to improved results in the second quarter of 2018.” Photos courtesy of Golden Star Resources

Headframe of the Central Shaft of the historic Prestea underground mine. The Central Shaft has been refur- bished as part of the Prestea Underground project.

June 2018  MODERN MINING  45