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Why Golden Star Resources Ltd (GSS) stock turnaround in the after-markets on Friday?

Golden Star Resources Ltd. (GSS) shares gained 3.34% in after-market on Friday, May 28, 2021, and closed the week at $3.4 per share. Earlier in the morning session, GSS’s stock lost 1.20% to close the normal trading session at $3.29. GSS shares have risen 11.53% over the last 12 months, and they have moved down 4.64% in the past week. Over the past three months, the stock has gained 7.87%, while over the past six months, it has plunged 10.11%.

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Let’s see what are the latest developments about Golden Star Resources?

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Restructuring and upsizing of the senior secured credit facility 

On May 31, 2021, Golden Star Resources Ltd announced the restructuring and upsizing of the senior secured credit facility with Macquarie Bank Limited.

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After the restructuring, the facility has been extended to $90 million, representing a $20 million increase.Golden Star now has $30 million of available liquidity from the upsized Facility.

Human Rights policy reviewed and update

On May 21, 2021, Golden Star Resources Ltd reviewed its policy on Human Rights and, as a result of this engagement, Golden Star has published an updated Policy on Human Rights (with enhanced alignment to internationally recognized human rights standards and the World Gold Council’s Responsible Gold Mining Principles. The Policy is available on the company’s website.

Results of Annual General Meeting of Shareholders

On May 6, 2021, Golden Star Resources Ltd announced that all resolutions at the annual general meeting of Golden Star shareholders were duly passed.

Financial results announcement

On May 5, 2021, Golden Star Resources Ltd. announced its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights


Well as of this writing no news could be linked with its turnaround in the after-hours on Friday. but we have a recent development (discussed above) that is going to affect GSS stock price when the market will open after the long weekend on Tuesday. We have to wait and see how GSS performs on Tuesday.

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