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Stock Market & Financial Investment News

News Breaks
March 5, 2013
07:55 EDTGSSGolden Star Resources announces signing of negotiated resettlement agreement
Golden Star Resources announced the signing of the negotiated resettlement agreement which will enable the relocation of the community of Dumasi to a new site. The community of Dumasi is located upon the Dumasi deposit, which is a key orebody for the Company's Bogoso Mine. The orebody is Bogoso's largest undeveloped open pit mine on the concession and, as at December 31, 2012, contained National Instrument 43-101 compliant Proven and Probable Mineral Reserves of 15.3 million tonnes grading 2.19 g/t for 1.08 million ounces of gold. Dumasi is located approximately 4 kilometres north of the Bogoso processing plant complex. Production from the Dumasi deposit is expected to begin in early 2015 and will feed both the non-refractory and the refractory plants at Bogoso for several years to come.
News For GSS From The Last 14 Days
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July 23, 2015
17:12 EDTGSSRoyal Gold sees streaming agreement with Golden Star Resources closing "soon"
Royal Gold (RGLD) had entered into a streaming agreement with Golden Star Resources (GSS). The transaction is expected to close soon, upon satisfaction of remaining closing conditions, with RGLD Gold making an initial upfront payment at closing of $40M to Golden Star. Royal Gold will simultaneously fund a $20Mdollar term loan as part of the transaction. RGLD Gold expects to make further advance payments totaling $90M over the next five quarters. Once the initial upfront payment has been made, RGLD Gold expects to receive stream deliveries from Golden Star in the current quarter related to production from and after April 1. Golden Star will deliver to RGLD Gold 8.5% of gold produced from Wassa, Bogoso and Prestea until 185,000 ounces have been delivered, 5.0% until an additional 22,500 ounces have been delivered, and 3.0% thereafter. RGLD Gold will pay Golden Star 20% of the spot price at the time of delivery until 207,500 ounces have been delivered, and 30% of the spot price thereafter.

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