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Stock Market & Financial Investment News

News Breaks
April 3, 2014
07:09 EDTGSSGolden Star says Wassa drilling program continues to return positive results
Golden Star Resources provides an update on exploration activities at its Wassa gold mine in Ghana. Sam Coetzer, President and CEO of Golden Star commented: "The Wassa drilling program continues to return positive results confirming both higher grades beneath the current Main pit and the extension of this high grade mineralization down plunge to the south. Since our last update we have drilled a further fence of step-out holes 200 m south of the last fence. Results confirm that mineralization plunges in that direction and remains open. Additionally, infill drilling continues to confirm continuity, grade and thickness of this mineralization. The Company will continue testing the extent of this growing target to determine its potential. A PEA of an underground operation at Wassa, to be developed alongside the ongoing open pit operation, has commenced and is expected to be completed during the second quarter of 2014."
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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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