Golden Star Resources (NYSEMKT:GSS) to sell its 90% interest in the Bogoso-Prestea Gold Mine in Ghana to Future Global Resources Limited for $55M with a further contingent component of up to $40M.
The sale strengthens Golden Star's balance sheet and allows the company to accelerate the growth and development of the large resource base at the Wassa mine, and increase exploration activities in the wider Wassa-HBB project area.
Transaction is expected to complete by the end of the current quarter.
Shares up +5.6% premarket.