Golden Star to sell shares on Ghana Stock Exchange

Gold miner Golden Star Resources Ltd. said Thursday it's received all approvals necessary to list its shares on the Ghana Stock Exchange and is selling 3.1 million shares at a price of 3 cedis per share to Ghananian investors. Three Ghanaian cedis are equal to about 0.03 U.S. cents.

Golden Star is based in Denver.

The company also appointed Nigel Tamlyn general manager of its Bogoso/Prestea mine in Ghana.

The stock offer is expected to close Dec. 21. Shares will begin trading on the Ghana Stock Exchange on Jan. 14, 2008.

Golden Star holds a 90 percent equity interest in two companies conducting open-pit gold mining in Ghana. The company also has an 81 percent interest in a third, an underground, inactive mine in Ghana, and is exploring for gold in West Africa and South America.