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Financial assets measured at fair value as at | |||||||||||||||
September 30, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Available for sale investments | $ | 17,817 | $ | — | $ | — | $ | 17,817 | |||||||
$ | 17,817 | $ | — | $ | — | $ | 17,817 |
Financial liabilities measured at fair value as at | |||||||||||||||
September 30, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
4% Convertible debentures | $ | 44,415 | $ | — | $ | — | $ | 44,415 | |||||||
5% Convertible debentures | — | — | 105,214 | 105,214 | |||||||||||
$ | 44,415 | $ | — | $ | 105,214 | $ | 149,629 |
Fair value measurements using significant unobservable inputs | Level 3 | |||
Balance at December 31, 2011 | $ | — | ||
5% Debentures transferred into Level 3 | 74,003 | |||
Unrealized loss included in loss on fair value of Convertible Debentures in Statement of Operations | 31,211 | |||
Balance at September 30, 2012 | $ | 105,214 |
Financial assets measured at fair value as at | |||||||||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Available for sale investments | $ | 1,416 | $ | — | $ | — | $ | 1,416 | |||||||
Warrants | — | 555 | — | 555 | |||||||||||
$ | 1,416 | $ | 555 | $ | — | $ | 1,971 |
Financial liabilities measured at fair value as at | |||||||||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
4% Convertible debentures | $ | 121,625 | $ | — | $ | — | $ | 121,625 | |||||||
$ | 121,625 | $ | — | $ | — | $ | 121,625 |
|
For the three months ended | For the nine months ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Riverstone Resources, Inc. - warrants | $ | — | $ | 25 | $ | 162 | $ | 67 | |||||||
Gold price derivatives | — | 11,136 | — | 17,773 | |||||||||||
Derivative loss | $ | — | $ | 11,161 | $ | 162 | $ | 17,840 |
For the three months ended | For the nine months ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Realized (gain)/loss | $ | — | $ | 9,461 | $ | 162 | $ | 10,960 | |||||||
Unrealized loss | — | 1,700 | — | 6,880 | |||||||||||
Derivative loss | $ | — | $ | 11,161 | $ | 162 | $ | 17,840 |
|
As of | As of | ||||||
September 30, | December 31, | ||||||
2012 | 2011 | ||||||
Stockpiled ore | $ | 28,993 | $ | 16,773 | |||
In-process | 13,122 | 8,912 | |||||
Materials and supplies | 46,782 | 48,612 | |||||
Finished goods | 2,979 | — | |||||
Total | $ | 91,876 | $ | 74,297 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||
Riverstone | Riverstone | ||||||||||||
Fair Value | Shares | Fair Value | Shares | ||||||||||
Balance at beginning of period | $ | 1,416 | 2,000,000 | $ | 928 | 1,300,000 | |||||||
Acquisitions | 17,117 | 23,676,301 | 469 | 700,000 | |||||||||
Dispositions | (445 | ) | (638,700 | ) | — | — | |||||||
OCI - unrealized (loss)/gain | (271 | ) | — | 19 | — | ||||||||
Balance at end of period | $ | 17,817 | 25,037,601 | $ | 1,416 | 2,000,000 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||||||||||||
Cost | Accumulated Depreciation | Net Book Value | Cost | Accumulated Depreciation | Net Book Value | ||||||||||||||||||
Bogoso/Prestea | $ | 182,842 | $ | (112,135 | ) | $ | 70,707 | $ | 179,216 | $ | (109,519 | ) | $ | 69,697 | |||||||||
Bogoso refractory plant | 195,152 | (64,998 | ) | 130,154 | 186,607 | (58,873 | ) | 127,734 | |||||||||||||||
Wassa/HBB | 117,090 | (62,051 | ) | 55,039 | 106,631 | (52,430 | ) | 54,201 | |||||||||||||||
Corporate & other | 1,346 | (908 | ) | 438 | 1,378 | (879 | ) | 499 | |||||||||||||||
Total | $ | 496,430 | $ | (240,092 | ) | $ | 256,338 | $ | 473,832 | $ | (221,701 | ) | $ | 252,131 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||||||||||||
Cost | Accumulated Amortization | Net Book Value | Cost | Accumulated Amortization | Net Book Value | ||||||||||||||||||
Bogoso/Prestea | $ | 126,469 | $ | (63,836 | ) | $ | 62,633 | $ | 119,700 | $ | (60,186 | ) | $ | 59,514 | |||||||||
Bogoso refractory plant | 70,318 | (39,121 | ) | 31,197 | 70,090 | (34,839 | ) | 35,251 | |||||||||||||||
Mampon | 16,095 | — | 16,095 | 16,095 | — | 16,095 | |||||||||||||||||
Wassa/HBB | 336,804 | (218,103 | ) | 118,701 | 314,801 | (180,486 | ) | 134,315 | |||||||||||||||
Other | 29,657 | (5,787 | ) | 23,870 | 27,312 | (2,330 | ) | 24,982 | |||||||||||||||
Total | $ | 579,343 | $ | (326,847 | ) | $ | 252,496 | $ | 547,998 | $ | (277,841 | ) | $ | 270,157 |
|
For the nine months ended | |||||||
September 30, | |||||||
2012 | 2011 | ||||||
Beginning balance | $ | 33,880 | $ | 44,952 | |||
Accretion expense | 2,111 | 5,300 | |||||
Additions and changes in estimates | — | 3,748 | |||||
Cost of reclamation work performed | (5,389 | ) | (20,244 | ) | |||
Balance at September 30 | $ | 30,602 | $ | 33,756 | |||
Current portion | $ | 7,886 | $ | 11,445 | |||
Long term portion | $ | 22,716 | $ | 22,311 |
|
As of | As of | ||||||
September 30, | December 31, | ||||||
2012 | 2011 | ||||||
Current debt: | |||||||
Equipment financing credit facility | $ | 7,448 | $ | 7,036 | |||
Capital lease | — | 224 | |||||
4% Convertible debentures | 43,822 | 121,199 | |||||
Total current debt | $ | 51,270 | $ | 128,459 | |||
Long term debt: | |||||||
Equipment financing credit facility | $ | 12,723 | $ | 10,759 | |||
5% Convertible debentures | 103,919 | — | |||||
Total long term debt | $ | 116,642 | $ | 10,759 |
Three Months | |||||||||||||||||||||||||
Debt | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | Maturity | ||||||||||||||||||
Equipment financing loans | |||||||||||||||||||||||||
principal | $ | 2,160 | $ | 6,774 | $ | 4,732 | $ | 3,798 | $ | 2,208 | $ | 499 | 2012 to 2017 | ||||||||||||
interest | 330 | 1,003 | 604 | 322 | 120 | 9 | |||||||||||||||||||
4% Convertible debentures | |||||||||||||||||||||||||
principal | 44,360 | — | — | — | — | — | November 30, 2012 | ||||||||||||||||||
interest | 890 | — | — | — | — | — | |||||||||||||||||||
5% Convertible debentures | |||||||||||||||||||||||||
principal | — | — | — | — | — | 77,490 | June 1, 2017 | ||||||||||||||||||
interest | 1,937 | 3,875 | 3,875 | 3,875 | 3,875 | 1,937 | |||||||||||||||||||
Total | $ | 49,677 | $ | 11,652 | $ | 9,211 | $ | 7,995 | $ | 6,203 | $ | 79,935 |
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Current expense: | |||||||||||||||
Canada | $ | — | $ | — | $ | — | $ | — | |||||||
Foreign | — | (788 | ) | — | (2,472 | ) | |||||||||
Deferred tax expense: | |||||||||||||||
Canada | — | — | — | — | |||||||||||
Foreign | (4,002 | ) | (2,833 | ) | (19,464 | ) | (9,255 | ) | |||||||
Total expense | $ | (4,002 | ) | $ | (3,621 | ) | $ | (19,464 | ) | $ | (11,727 | ) |
|
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Mining operations costs | $ | 98,686 | $ | 87,387 | $ | 298,420 | $ | 258,487 | |||||||
Operations costs to metal inventory | (4,322 | ) | 1,310 | (15,602 | ) | 851 | |||||||||
Mining related depreciation and amortization | 25,832 | 15,504 | 69,985 | 52,023 | |||||||||||
Accretion of asset retirement obligations | 703 | 2,184 | 2,111 | 5,300 | |||||||||||
Total cost of sales | $ | 120,899 | $ | 106,385 | $ | 354,914 | $ | 316,661 |
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Total stock compensation expense | $ | 1,033 | $ | 564 | $ | 4,737 | $ | 2,784 |
For the nine months ended September 30, | |||
2012 | 2011 | ||
Expected volatility | 57.11 to 87.50% | 66.33 to 69.79% | |
Risk-free interest rate | 0.36 to 1.91% | 1.58 to 2.26% | |
Expected lives | 2.77 to 8.06 | 5.63 to 8.47 | |
Dividend yield | 0% | 0% |
Options (‘000) | Weighted– Average Exercise price (Cdn$) | Weighted– Average Remaining Contractual Term (Years) | Aggregate intrinsic value Cdn($000) | ||||||||
Outstanding as of December 31, 2011 | 8,539 | 3.18 | 7.0 | 95 | |||||||
Granted | 5,054 | 1.97 | 5.9 | — | |||||||
Exercised | (138 | ) | 1.36 | 2.6 | 101 | ||||||
Forfeited, canceled and expired | (963 | ) | 2.89 | 6.6 | — | ||||||
Outstanding as of September 30, 2012 | 12,492 | 2.73 | 6.4 | 767 | |||||||
Exercisable as of September 30, 2012 | 8,057 | 3.00 | 5.9 | 527 |
|
Africa | ||||||||||||||||||||||||
As of and for the three months ended September 30 | Bogoso/ Prestea | Wassa/ HBB | Other | South America | Corporate | Total | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenues | $ | 65,775 | $ | 67,722 | $ | — | $ | — | $ | — | $ | 133,497 | ||||||||||||
Net income/(loss) attributable to Golden Star | (1,750 | ) | 7,406 | (481 | ) | (119 | ) | (35,263 | ) | (30,207 | ) | |||||||||||||
Income tax expense | — | (4,002 | ) | — | — | — | (4,002 | ) | ||||||||||||||||
Capital expenditures | 5,790 | 13,285 | — | — | — | 19,075 | ||||||||||||||||||
Total assets | 427,482 | 221,915 | 2,386 | 168 | 97,402 | 749,353 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenues | $ | 68,693 | $ | 57,187 | $ | — | $ | — | $ | — | $ | 125,880 | ||||||||||||
Net income/(loss) attributable to Golden Star | 2,881 | 8,174 | (1,039 | ) | (92 | ) | (20,120 | ) | (10,196 | ) | ||||||||||||||
Income tax expense | — | (3,621 | ) | — | — | — | (3,621 | ) | ||||||||||||||||
Capital expenditures | 9,027 | 11,638 | 146 | — | — | 20,811 | ||||||||||||||||||
Total assets | 371,787 | 253,685 | 2,532 | 228 | 83,560 | 711,792 |
Africa | ||||||||||||||||||||||||
As of and for the nine months ended September 30 | Bogoso/ Prestea | Wassa/ HBB | Other | South America | Corporate | Total | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenues | $ | 205,933 | $ | 194,897 | $ | — | $ | — | $ | — | $ | 400,830 | ||||||||||||
Net income/(loss) attributable to Golden Star | 10,412 | 13,911 | (2,196 | ) | (400 | ) | (40,337 | ) | (18,610 | ) | ||||||||||||||
Income tax expense | — | (19,464 | ) | — | — | — | (19,464 | ) | ||||||||||||||||
Capital expenditures | 26,495 | 32,060 | — | — | 3 | 58,558 | ||||||||||||||||||
Total assets | 427,482 | 221,915 | 2,386 | 168 | 97,402 | 749,353 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenues | $ | 162,790 | $ | 189,403 | $ | — | $ | — | $ | — | $ | 352,193 | ||||||||||||
Net income/(loss) attributable to Golden Star | (12,889 | ) | 27,189 | (2,419 | ) | (356 | ) | (20,841 | ) | (9,316 | ) | |||||||||||||
Income tax expense | — | (11,727 | ) | — | — | — | (11,727 | ) | ||||||||||||||||
Capital expenditures | 29,877 | 28,407 | 421 | — | — | 58,705 | ||||||||||||||||||
Total assets | 371,787 | 253,685 | 2,532 | 228 | 83,560 | 711,792 |
|
|
|
|
Fair value measurements using significant unobservable inputs | Level 3 | |||
Balance at December 31, 2011 | $ | — | ||
5% Debentures transferred into Level 3 | 74,003 | |||
Unrealized loss included in loss on fair value of Convertible Debentures in Statement of Operations | 31,211 | |||
Balance at September 30, 2012 | $ | 105,214 |
Financial assets measured at fair value as at | |||||||||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Available for sale investments | $ | 1,416 | $ | — | $ | — | $ | 1,416 | |||||||
Warrants | — | 555 | — | 555 | |||||||||||
$ | 1,416 | $ | 555 | $ | — | $ | 1,971 |
Financial liabilities measured at fair value as at | |||||||||||||||
December 31, 2011 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
4% Convertible debentures | $ | 121,625 | $ | — | $ | — | $ | 121,625 | |||||||
$ | 121,625 | $ | — | $ | — | $ | 121,625 |
Financial assets measured at fair value as at | |||||||||||||||
September 30, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Available for sale investments | $ | 17,817 | $ | — | $ | — | $ | 17,817 | |||||||
$ | 17,817 | $ | — | $ | — | $ | 17,817 |
Financial liabilities measured at fair value as at | |||||||||||||||
September 30, 2012 | |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
4% Convertible debentures | $ | 44,415 | $ | — | $ | — | $ | 44,415 | |||||||
5% Convertible debentures | — | — | 105,214 | 105,214 | |||||||||||
$ | 44,415 | $ | — | $ | 105,214 | $ | 149,629 |
|
For the three months ended | For the nine months ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Riverstone Resources, Inc. - warrants | $ | — | $ | 25 | $ | 162 | $ | 67 | |||||||
Gold price derivatives | — | 11,136 | — | 17,773 | |||||||||||
Derivative loss | $ | — | $ | 11,161 | $ | 162 | $ | 17,840 |
For the three months ended | For the nine months ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Realized (gain)/loss | $ | — | $ | 9,461 | $ | 162 | $ | 10,960 | |||||||
Unrealized loss | — | 1,700 | — | 6,880 | |||||||||||
Derivative loss | $ | — | $ | 11,161 | $ | 162 | $ | 17,840 |
|
As of | As of | ||||||
September 30, | December 31, | ||||||
2012 | 2011 | ||||||
Stockpiled ore | $ | 28,993 | $ | 16,773 | |||
In-process | 13,122 | 8,912 | |||||
Materials and supplies | 46,782 | 48,612 | |||||
Finished goods | 2,979 | — | |||||
Total | $ | 91,876 | $ | 74,297 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||
Riverstone | Riverstone | ||||||||||||
Fair Value | Shares | Fair Value | Shares | ||||||||||
Balance at beginning of period | $ | 1,416 | 2,000,000 | $ | 928 | 1,300,000 | |||||||
Acquisitions | 17,117 | 23,676,301 | 469 | 700,000 | |||||||||
Dispositions | (445 | ) | (638,700 | ) | — | — | |||||||
OCI - unrealized (loss)/gain | (271 | ) | — | 19 | — | ||||||||
Balance at end of period | $ | 17,817 | 25,037,601 | $ | 1,416 | 2,000,000 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||||||||||||
Cost | Accumulated Depreciation | Net Book Value | Cost | Accumulated Depreciation | Net Book Value | ||||||||||||||||||
Bogoso/Prestea | $ | 182,842 | $ | (112,135 | ) | $ | 70,707 | $ | 179,216 | $ | (109,519 | ) | $ | 69,697 | |||||||||
Bogoso refractory plant | 195,152 | (64,998 | ) | 130,154 | 186,607 | (58,873 | ) | 127,734 | |||||||||||||||
Wassa/HBB | 117,090 | (62,051 | ) | 55,039 | 106,631 | (52,430 | ) | 54,201 | |||||||||||||||
Corporate & other | 1,346 | (908 | ) | 438 | 1,378 | (879 | ) | 499 | |||||||||||||||
Total | $ | 496,430 | $ | (240,092 | ) | $ | 256,338 | $ | 473,832 | $ | (221,701 | ) | $ | 252,131 |
|
As of September 30, 2012 | As of December 31, 2011 | ||||||||||||||||||||||
Cost | Accumulated Amortization | Net Book Value | Cost | Accumulated Amortization | Net Book Value | ||||||||||||||||||
Bogoso/Prestea | $ | 126,469 | $ | (63,836 | ) | $ | 62,633 | $ | 119,700 | $ | (60,186 | ) | $ | 59,514 | |||||||||
Bogoso refractory plant | 70,318 | (39,121 | ) | 31,197 | 70,090 | (34,839 | ) | 35,251 | |||||||||||||||
Mampon | 16,095 | — | 16,095 | 16,095 | — | 16,095 | |||||||||||||||||
Wassa/HBB | 336,804 | (218,103 | ) | 118,701 | 314,801 | (180,486 | ) | 134,315 | |||||||||||||||
Other | 29,657 | (5,787 | ) | 23,870 | 27,312 | (2,330 | ) | 24,982 | |||||||||||||||
Total | $ | 579,343 | $ | (326,847 | ) | $ | 252,496 | $ | 547,998 | $ | (277,841 | ) | $ | 270,157 |
|
For the nine months ended | |||||||
September 30, | |||||||
2012 | 2011 | ||||||
Beginning balance | $ | 33,880 | $ | 44,952 | |||
Accretion expense | 2,111 | 5,300 | |||||
Additions and changes in estimates | — | 3,748 | |||||
Cost of reclamation work performed | (5,389 | ) | (20,244 | ) | |||
Balance at September 30 | $ | 30,602 | $ | 33,756 | |||
Current portion | $ | 7,886 | $ | 11,445 | |||
Long term portion | $ | 22,716 | $ | 22,311 |
|
As of | As of | ||||||
September 30, | December 31, | ||||||
2012 | 2011 | ||||||
Current debt: | |||||||
Equipment financing credit facility | $ | 7,448 | $ | 7,036 | |||
Capital lease | — | 224 | |||||
4% Convertible debentures | 43,822 | 121,199 | |||||
Total current debt | $ | 51,270 | $ | 128,459 | |||
Long term debt: | |||||||
Equipment financing credit facility | $ | 12,723 | $ | 10,759 | |||
5% Convertible debentures | 103,919 | — | |||||
Total long term debt | $ | 116,642 | $ | 10,759 |
Three Months | |||||||||||||||||||||||||
Debt | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | Maturity | ||||||||||||||||||
Equipment financing loans | |||||||||||||||||||||||||
principal | $ | 2,160 | $ | 6,774 | $ | 4,732 | $ | 3,798 | $ | 2,208 | $ | 499 | 2012 to 2017 | ||||||||||||
interest | 330 | 1,003 | 604 | 322 | 120 | 9 | |||||||||||||||||||
4% Convertible debentures | |||||||||||||||||||||||||
principal | 44,360 | — | — | — | — | — | November 30, 2012 | ||||||||||||||||||
interest | 890 | — | — | — | — | — | |||||||||||||||||||
5% Convertible debentures | |||||||||||||||||||||||||
principal | — | — | — | — | — | 77,490 | June 1, 2017 | ||||||||||||||||||
interest | 1,937 | 3,875 | 3,875 | 3,875 | 3,875 | 1,937 | |||||||||||||||||||
Total | $ | 49,677 | $ | 11,652 | $ | 9,211 | $ | 7,995 | $ | 6,203 | $ | 79,935 |
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Current expense: | |||||||||||||||
Canada | $ | — | $ | — | $ | — | $ | — | |||||||
Foreign | — | (788 | ) | — | (2,472 | ) | |||||||||
Deferred tax expense: | |||||||||||||||
Canada | — | — | — | — | |||||||||||
Foreign | (4,002 | ) | (2,833 | ) | (19,464 | ) | (9,255 | ) | |||||||
Total expense | $ | (4,002 | ) | $ | (3,621 | ) | $ | (19,464 | ) | $ | (11,727 | ) |
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Mining operations costs | $ | 98,686 | $ | 87,387 | $ | 298,420 | $ | 258,487 | |||||||
Operations costs to metal inventory | (4,322 | ) | 1,310 | (15,602 | ) | 851 | |||||||||
Mining related depreciation and amortization | 25,832 | 15,504 | 69,985 | 52,023 | |||||||||||
Accretion of asset retirement obligations | 703 | 2,184 | 2,111 | 5,300 | |||||||||||
Total cost of sales | $ | 120,899 | $ | 106,385 | $ | 354,914 | $ | 316,661 |
|
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Total stock compensation expense | $ | 1,033 | $ | 564 | $ | 4,737 | $ | 2,784 |
For the nine months ended September 30, | |||
2012 | 2011 | ||
Expected volatility | 57.11 to 87.50% | 66.33 to 69.79% | |
Risk-free interest rate | 0.36 to 1.91% | 1.58 to 2.26% | |
Expected lives | 2.77 to 8.06 | 5.63 to 8.47 | |
Dividend yield | 0% | 0% |
Options (‘000) | Weighted– Average Exercise price (Cdn$) | Weighted– Average Remaining Contractual Term (Years) | Aggregate intrinsic value Cdn($000) | ||||||||
Outstanding as of December 31, 2011 | 8,539 | 3.18 | 7.0 | 95 | |||||||
Granted | 5,054 | 1.97 | 5.9 | — | |||||||
Exercised | (138 | ) | 1.36 | 2.6 | 101 | ||||||
Forfeited, canceled and expired | (963 | ) | 2.89 | 6.6 | — | ||||||
Outstanding as of September 30, 2012 | 12,492 | 2.73 | 6.4 | 767 | |||||||
Exercisable as of September 30, 2012 | 8,057 | 3.00 | 5.9 | 527 |
|
Africa | ||||||||||||||||||||||||
As of and for the three months ended September 30 | Bogoso/ Prestea | Wassa/ HBB | Other | South America | Corporate | Total | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenues | $ | 65,775 | $ | 67,722 | $ | — | $ | — | $ | — | $ | 133,497 | ||||||||||||
Net income/(loss) attributable to Golden Star | (1,750 | ) | 7,406 | (481 | ) | (119 | ) | (35,263 | ) | (30,207 | ) | |||||||||||||
Income tax expense | — | (4,002 | ) | — | — | — | (4,002 | ) | ||||||||||||||||
Capital expenditures | 5,790 | 13,285 | — | — | — | 19,075 | ||||||||||||||||||
Total assets | 427,482 | 221,915 | 2,386 | 168 | 97,402 | 749,353 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenues | $ | 68,693 | $ | 57,187 | $ | — | $ | — | $ | — | $ | 125,880 | ||||||||||||
Net income/(loss) attributable to Golden Star | 2,881 | 8,174 | (1,039 | ) | (92 | ) | (20,120 | ) | (10,196 | ) | ||||||||||||||
Income tax expense | — | (3,621 | ) | — | — | — | (3,621 | ) | ||||||||||||||||
Capital expenditures | 9,027 | 11,638 | 146 | — | — | 20,811 | ||||||||||||||||||
Total assets | 371,787 | 253,685 | 2,532 | 228 | 83,560 | 711,792 |
Africa | ||||||||||||||||||||||||
As of and for the nine months ended September 30 | Bogoso/ Prestea | Wassa/ HBB | Other | South America | Corporate | Total | ||||||||||||||||||
2012 | ||||||||||||||||||||||||
Revenues | $ | 205,933 | $ | 194,897 | $ | — | $ | — | $ | — | $ | 400,830 | ||||||||||||
Net income/(loss) attributable to Golden Star | 10,412 | 13,911 | (2,196 | ) | (400 | ) | (40,337 | ) | (18,610 | ) | ||||||||||||||
Income tax expense | — | (19,464 | ) | — | — | — | (19,464 | ) | ||||||||||||||||
Capital expenditures | 26,495 | 32,060 | — | — | 3 | 58,558 | ||||||||||||||||||
Total assets | 427,482 | 221,915 | 2,386 | 168 | 97,402 | 749,353 | ||||||||||||||||||
2011 | ||||||||||||||||||||||||
Revenues | $ | 162,790 | $ | 189,403 | $ | — | $ | — | $ | — | $ | 352,193 | ||||||||||||
Net income/(loss) attributable to Golden Star | (12,889 | ) | 27,189 | (2,419 | ) | (356 | ) | (20,841 | ) | (9,316 | ) | |||||||||||||
Income tax expense | — | (11,727 | ) | — | — | — | (11,727 | ) | ||||||||||||||||
Capital expenditures | 29,877 | 28,407 | 421 | — | — | 58,705 | ||||||||||||||||||
Total assets | 371,787 | 253,685 | 2,532 | 228 | 83,560 | 711,792 |
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For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Decrease/(increase) in accounts receivable | $ | 2,928 | $ | (1,886 | ) | $ | 1,964 | $ | (4,690 | ) | |||||
(Increase)/decrease in inventories | (3,269 | ) | 1,177 | (13,773 | ) | 756 | |||||||||
(Increase)/decrease in deposits | (2,479 | ) | 147 | (3,193 | ) | (553 | ) | ||||||||
(Decrease)/increase in accounts payable and accrued liabilities | (2,702 | ) | 4,265 | (8,230 | ) | (14,534 | ) | ||||||||
Other | (8 | ) | 565 | (877 | ) | (1,524 | ) | ||||||||
Total Changes in working capital | $ | (5,530 | ) | $ | 4,268 | $ | (24,109 | ) | $ | (20,545 | ) |
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