Golden Star Reports FY16 Gold Production, Guides For Higher Production in FY17

Golden Star Resources said pre-market Wednesday its FY16 gold production totaled 194,054 ounces, which was at the top half of a previously provided guidance range of 180,000 to 205,000 ounces.

The gold miner said Q4 gold production was of 53,403 ounces, representing its strongest quarterly production for the year.

For FY17, Golden Star expects gold production of 255,000 to 280,000 ounces, up 31% to 44% compared to FY16, at all-in sustaining costs of $970 to $1,070 per ounce.

The company expects gold production to be weighted towards H2 of 2017, with Q1 and Q2 production expected to be in line with Q4 production. Golden Star plans to unveil Q4 and full-year results on Feb. 21.

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