(RTTNews) - Monday, Golden Star Resources Ltd. (GSC.TO: News ,GSS: News ) posted a narrower third quarter net loss from last year, as a result of improved gold revenues.

Golden Star's third-quarter net loss narrowed to US$2.3 million or US$0.010 per share from US$22.2 million or US$0.094 per share in the same quarter last year.

Total gold sold for the quarter was 107,433 ounces a 45%increase over 74,042 ounces in the previous year period.

Gold revenues for the quarter increased to US$103.8 million from US$64.1 million in the year-ago period.

The company noted third quarter average realized gold price of US$967, up 12% from US$866 in the same quarter last year.

Cash operating cost declined to US$586 from US$871 in the comparable quarter last year.
For the nine months period, net loss was US$3.10 million or US$0.013 per share compared to US$32.58 million or US$0.138 per share in the prior year. Year-to-date gold revenue was US$283.3 million, up from US$187.7 million last year.

Looking ahead to fiscal 2009, the company expects gold production to be 405 ounces and cash operating cost per ounce to be US$565.

GSS closed Monday's regular trading session at $3.75, up $0.06 or 1.63% on Amex. In the after hours, the stock further rose $0.03 or 0.80% to trade at $3.78.

GSC.TO last traded at $3.97 on the Toronto Stock Exchange.

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by RTT Staff Writer

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