Case: Golden Star Resources Ltd
Venue: CDCA
Class Period: 2/20/2019 - 7/30/2019
Lead Plaintiff Deadline: 6/1/2020
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NEW YORK, NY – April 8, 2020 – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Golden Star Resources Ltd. (“Golden Star” or the “Company”) (NYSE: GSS).  A class action securities lawsuit has been filed on behalf of investors who purchased Golden Star common stock on the New York Stock Exchange between February 20, 2019 and July 30, 2019, inclusive (the “Class Period”).

On July 31, 2019, Golden Star announced disappointing second quarter 2019 financial results, forcing the Company to materially cut its production guidance and increase its cash operating cost estimates. According to the complaint, in disclosing the material changes to its financial guidance, the Company admitted that it had contracted CSA Global to review its mining operations and that a range of issues were identified as negatively impacting its Prestea and Wassa mines, including the use of insufficient geological and geotechnical data and inaccurate long hole drilling and blasting.  

Following this news, Golden Star’s stock price declined $0.75 per share, over 17%, to close at $3.55 per share on July 31, 2019.

The complaint alleges that throughout the Class Period, the Company and other defendants made materially false and/or misleading statements by failing to disclose that: (1) the Company had insufficient geological and geotechnical data in its Prestea mine; (2) the Company had experienced deficiencies in its operating practices and mining methods including inaccurate long hole drilling and blasting in its Prestea mine; (3) the Company did not have the mining flexibility and more measured resources to ensure higher reserve grade; (4) the Company had experienced increased tonnage at much lower grade where it had to supplement some of the production with oxide material; (5) the Company had excessive dilution which drove lower mining rates at the Prestea mine; and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. 

If you purchased Gold Star common stock you may move the court no later than June 1, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing This e-mail address is being protected from spambots. You need JavaScript enabled to view it or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact: 

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(646) 315-9003
Fax: (212) 687-7714
E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
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