Golden Star Resources Ltd. - A Potenial Ten Bagger Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Golden Star Resources Ltd. - A Potenial Ten Bagger

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bill Murphy who wrote (12)	8/1/1998 11:40:00 AM
From: Heretic	Read Replies (1) of 44

GSR has reduced its burn rate to below $1M. Although in the PR, Fennell states "the additional cash will allow us to advance exploration at our other projects," so the burn rate will likely rise somewhat. They have laid off workers and put several early stage projects on 'care and maintenance.' The company asserts that the best thing they can do for shareholders is to increase proven reserves while at the same time scaling back to weather the low gold prices. They are trying to do this by focusing on just a couple of projects with the best cost/reward conditions. GSR probably has enough $ for a year. But at some point, they will be forced to raise money by either selling assets, or diluting shareholders. Both of those options are dreadful.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next