903571--2/28/2008--GOLDEN_STAR_RESOURCES

related topics

{gas, price, oil}

{loss, insurance, financial}

{cost, regulation, environmental}

{acquisition, growth, future}

{regulation, change, law}

{stock, price, share}

{operation, international, foreign}

{cost, contract, operation}

{interest, director, officer}

{control, financial, internal}

{tax, income, asset}

{personnel, key, retain}

{debt, indebtedness, cash}

{stock, price, operating}

{financial, litigation, operation}

A substantial or prolonged decline in gold prices would have a material adverse effect on us. We may incur substantial losses in the future that could make financing our operations and business strategy more difficult. Our obligations could strain our financial position and impede our business strategy. Our estimates of Mineral Reserves and non-reserves could be inaccurate, which could cause production and costs to differ from estimates. We currently have only two sources of operational cash flows, which will likely be insufficient by themselves to fund our continuing exploration and development activities. We are subject to fluctuations in currency exchange rates, which could materially adversely affect our financial position. Implementation of a hedging program might be unsuccessful and incur losses. Risks inherent in acquisitions that we might undertake could adversely affect our current business and financial condition and our growth. We are subject to litigation risks. The technology and cost of production with respect to refractory materials at Bogoso/Prestea remain subject to a number of uncertainties. We are subject to a number of operational hazards that can delay production or result in liability to us. Our mining operations are subject to numerous environmental laws, regulations and permitting requirements that can delay production and adversely affect operating and development costs. The development and operation of our mining projects involve numerous uncertainties that could affect the feasibility or profitability of such projects. We need to continually discover, develop or acquire additional Mineral Reserves for gold production and a failure to do so would adversely affect our business and financial position in the future. Gold exploration is highly speculative, involves substantial expenditures, and is frequently non-productive. We face competition from other mining companies in connection with the acquisition of properties. Title to our mineral properties could be challenged. We depend on the services of key executives. Our insurance coverage could be insufficient. As a holding company, limitations on the ability of our operating subsidiaries to make distributions to us could adversely affect the funding of our operations. We are subject to changes in the regulatory environment where we operate which may increase our costs of compliance. The Government of Ghana has the right to increase its control of certain subsidiaries. We are subject to risks relating to exploration, development and operations in foreign countries. Illegal mining has occurred on our properties, is difficult to control, can disrupt our business and can expose us to liability. Our activities are subject to complex laws, regulations and accounting standards that can adversely affect operating and development costs, the timing of operations, the ability to operate and financial results. Failure to maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business and share price. The market price of our common shares could experience volatility and could decline significantly. Investors could have difficulty or be unable to enforce certain civil liabilities on us, certain of our directors and our experts. There are certain U.S. federal income tax risks associated with ownership of Golden Star common shares. The conversion feature of our Convertible Senior Unsecured Debentures could limit increases in the trading price of our common shares. The existence of outstanding rights to purchase or acquire common shares could impair our ability to raise capital.

Full 10-K form ▸

903571--2/28/2008--GOLDEN_STAR_RESOURCES_LTD