Golden Star Resources Ltd. (AMEX: GSS) (TSX: GSC) has closed its offering of 20 million common shares. The company offered the share at a price of $3.75 per share which resulted in gross proceeds of $75 million, or about $71.6 million in net proceeds to Golden Star.
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The underwriters were given an option for overallotment, exercisable for 30 days following the closing on December 17, 2009. The overallotment option enables the underwriter to purchase up to an additional 3 million common shares for $3.75 per share resulting in gross proceeds of up to $11.25 million, or net proceeds of about $10.7 million.
About Golden Star Resources
Golden Star holds a 90% equity interest in the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana. In addition, Golden Star has an 81% interest in the currently inactive Prestea Underground mine in Ghana, as well as gold exploration interests elsewhere in Ghana, in other parts of West Africa and in the Guiana Shield of South America. Golden Star has approximately 257 million shares outstanding.
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