Appointment notices: Mining Association of BC, Boreal Metals, Commit Works, Golden Star, and Miramont Resources

The new president and CEO of the Mining Association of British Columbia is Michael Goehring, effective May 1, 2019. He has more than 20 years’ of experience in public affairs and strategic communications across a number of industries.

Boreal Metals Corp. of Vancouver has strengthened its executive team with the appointment of Patricio Varas as CEO. Karl Antonius retains his position as president of the company. Varas’ 30 years’ experience includes work on discoveries such as the Santo Domingo Sur IOCG deposit in Chile, the Milestone potash deposit in Saskatchewan and the Diavik diamond mine in the Northwest Territories.

Commit Works, the Australian mining software company, is expanding into North America by establishing an office in Sudbury, Ont. To lead the growth, the company has named Joseph Gladu VP for North America and Derek Polano adoption and results manager.

David Wray will take up the role of president and CEO at Golden Star Resources in Toronto, effective May 1, 2019. He will replace Sam Coetzer who is leaving the company at the end of April.

The new executive chairman of Vancouver-based Miramont Resources is Dr. Quinton Hennigh, who had been non-executive chair since November 2017. CEO and president is Tyson King, a co-founder of the company and recently its VP.

(This article first appeared in the Canadian Mining Journal)

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Golden Star boosts Ghana gold resources despite depletion

Golden Star Resources (TSX: GSC; NYSE: GSS) has increased its overall reserves by 6%, net of mining depletion. It offset a loss in reserves at its Prestea gold mine by adding reserves at its Wassa gold mine, both located in Ghana.

In total the company has 19.4 million proven and probable tonnes grading 2.86 grams gold for 1.79 million oz. gold across its Wassa and Prestea gold mines.

Its biggest loss came at the Prestea mine, where reserves decreased by 36% net of depletion. Prestea now contains 853,000 proven and probable tonnes grading 11.57 grams gold for 317,000 oz. gold.

It also increased reserves at its Wassa mine 23% net of depletion. Wassa now contains 18.6 million proven and probable tonnes at 2.48 grams gold for 1.47 million oz. gold.

It boosted reserves at Wassa underground in particular by 47% net of depletion. Wassa underground now contains 7 million proven and probable tonnes at 3.95 grams gold for 949,000 oz. gold.

In February 2019, the company also increased inferred resources by 93% at its Father Brown gold project in Ghana. The project now contains 2.3 million inferred tonnes at 6.4 grams gold for 474,743 oz. gold.

(This article first appeared in The Northern Miner)

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Golden Star boosts Father Brown inferred resource 93%

Golden Star Resources (TSX: GSC; NYSE: GSS) has boosted the inferred resource at its Father Brown gold project in Ghana 93% to 2.3 million tonnes grading 6.4 grams gold per tonne for 474,743 oz. gold. It also updated the project’s indicated resource, which now totals 981,465 tonnes at 7.5 grams gold for 237,897 oz. gold.

Father Brown consists of the Father Brown and Adoikrom pits, which the company mined from 2011 to 2015, processing roughly 2.2 million tonnes at 4 grams gold to produce 300,000 oz. gold. It’s located 85 km along an existing haul road from the company’s Wassa plant. The updated resource incorporates 18 new holes Golden Star drilled totaling over 8,800 metres.

The company produced and sold less gold in 2018 than it did in 2017. It recorded lower gold revenues and a net $18 million loss attributable to shareholders, compared to a net $38 million gain the year before.

In a prepared statement, company president and CEO Sam Coetzer characterized 2018 as a year “of transition,” when Golden Star “began to cease open pit mining and worked towards being an underground only producer.”

Golden Star sold 12,307 oz. gold from its Wassa Main pit, compared to 75,644 oz. gold the year before. It sold 137,261 oz. gold from Wassa Underground, however, compared to 61,498 oz. gold the year before.

Overall, the company produced 224,784 oz. gold in 2018, down from 267,565 oz. the year before; it sold 224,979 oz. gold, down from 267,335 oz. gold the year before. Its all-in sustaining costs also rose from $944 per oz. gold in 2017 to $1,107 per oz. gold in 2018.

The company expects to produce between 220,000 and 240,000 oz. gold in 2019 at $875-$955 all-in sustaining costs.

This story first appeared in The Northern Miner.

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