Please let us know your opinion on Golden Star's Q3-09 gold sales and earnings per share.

Quarterly Average Price of Gold (APOG):

Q1-08 = $926
Q2-08 = $899 (down 2.9% from Q1)
Q3-08 = $866 (down 3.7% from Q2)
Q4-08 = $808 (down 6.6% from Q3)
Q1-09 = $904 (up 11.8% from Q4)
Q2-09 = $928 (up 2.7% from Q1)
Q3-09 = $960 (up 3.4% from Q2)

Latest Q3-09 Gold Sales and Earnings per Share Guesstimates:

Q3-2009__________________Gold Sales_____________Earnings
Studebaker1940_____________100,000_____________$0.055 0
Analyst Consensus_____________?????______________$0.0100
Jammed_Texas_Peach_________100,920_____________$0.019 5
Rusty_The_Kid______________101,010______________$0.00 83
Seeker_Of_Profits____________100,050______________$0. 0035
Average____________________101,013_____________$0.016 5

My guesstimate is based on:
-- Expense profiles from recent quarters
-- The Q3-09 average POG listed above
-- The new electricity rate of $0.08/kWh (counted as a 34% rate cut benefit)
-- I counted no retro-active electricity rate cut reimbursement benefits
-- The 2009 gold production company guidance of 400,000 oz
-- The 2009 cash operating cost per ounce (COCpO) company guidance of $545
-- An overall Q3 derivative gain/(loss) of (-$0.6M)
-- A 1.4% improvement in the quarterly GHS to USD foreign exchange ratio

The analyst consensus earnings per share estimate (provided by 6 analysts) was taken directly from the Yahoo data linked below:

http://finance.yahoo.com/q/ae?s=GSS

Will Golden Star break their all-time quarterly gold sales record again in Q3-09 as they did during Q1-09 and again during Q2-09?

Will Q3-09 prove to be the second profitable quarter in a row for Golden Star; a feat not accomplished since 2006?

Will the Q3-09 APOG break the all-time high average quarterly POG in history? Well, we already know the answer to this question – YES!

While this contest is a nice way to compete and track Golden Star’s production and earnings, I firmly believe that cash flow from operations is a much more important stat for determining the company’s strength and valuation. Golden Star’s positive cash flow is on the rise and going through the roof these days. I expect the Q3-09 cash flow from operations to be upwards of $40,000,000.

Please update your gold sales and earnings per share guesstimate at anytime prior to the release of the Q3-09 quarterly report expected in early November.