WHO WE ARE
Chifeng Gold Group is an established gold mining company with a number of subsidiaries. The Company operates Golden Star Wassa mine in Ghana, which is a large scale, non-refractory underground gold mine. Chifeng Gold Group is listed on the Shanghai stock exchange.
The investment case for Golden Star is as follows:
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Established, Mid-Tier Producer
Golden Star has a 21 year history of producing gold in Ghana. The Company expects to produce 162 – 174koz of gold at a cash operating cost under $1,200 per ounce in 2022. Ghana is a stable jurisdiction with a century-long history of mining and good existing infrastructure.
Focused On Cash Flow Generation
Chifeng Gold now operates the Wassa mine as underground operations. The Company will target high margin ounces that are anticipated to generate the strongest cash flow
Strong exploration upside potential
Golden Star has significant potential to expand its Mineral Reserves and the lives of its operations through converting its Mineral Resources to Reserves. There is also substantial potential to expand our Mineral Reserves outside of the current resource area. Golden Star’s mineral concession areas cover approximately 85km of the 250km Ashanti Gold Belt. We have the largest land package of any company operating in Ghana, including the major gold producers.