Good News From Golden Star Resources

You know I like Gold and gold mining stocks to leverage the price rise I see in the metal. If you have been reading Mover Mike for any time, you know I own the gold mining stock Golden Star Resources. (See Chart of GSS) Here’s one persons opinion from Le Metropole Cafe (Yes, you can still get a FREE two week subscription to the daily reports)

Golden Star Resources (GSS) is FINALLY living up to its enormous potential:

Yesterday’s earnings report/operations outlook was by far the best one they have released in the 5 years I have been following the Company. It appears that their sulfide extraction system is going to be successful. If that is the case, GSS has 10 million proved ounces of extractable gold, not counting their new exploration projects. Using $650 gold, and using a conservative cash cost of extraction of $350/oz., the gives GSS an implied asset value of $3 billion. You can draw your own future valuations based on your expectations of the future gold price. GSS’s current market cap is $737 million – that implies that GSS is undervalued by a factor of 4 times, using todays price of gold. Assuming yesterday’s earnings report is reliable, GSS is now my favorite mid-tier mining stock…Dave in Denver

GSS was higher as Gold rose to $660.

Golden Star Resources GSS Gold Mover Mike

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