Executive Summary
Golden Star Resources Corp (GLNS) reported a QQ1 2025 quarter characterized by ongoing losses and a highly leveraged balance sheet, with no revenue disclosed in the available data. Operating losses totaled -$14,417 and net income -$14,430, leading to an EPS of -0.002 for the quarter. The cost base was dominated by general and administrative expenses ($6,500) and other operating costs ($7,917), resulting in EBITDA of -$14,417 and an operating loss of -$14,417. The company reported negative cash flow from operations (-$16,032) but a near offsetting financing inflow (+$16,019), culminating in a minimal net cash movement (-$13) during the period. On the balance sheet, total assets were a modest $7,000 versus total liabilities of $840,471 and negative equity of -$833,471, signaling extreme liquidity risk and a capital-structure dependency on external financing to sustain operations. The debt burden is substantial (short-term debt of $705,623; total debt $705,623) with a current ratio of approximately 0.0083, underscoring acute liquidity fragility.
Across the four-quarter backdrop (Q4 2024 to Q3 2024 data in the dataset), GLNS exhibits a consistent pattern of negative net income and negative cash flow from operations, suggesting a sustained period of operating losses in the exploration phase. The lack of reported revenue in the QQ1 2025 data further emphasizes the company’s status as a capital-intensive explorer with limited near-term commercial revenue realizations. Management commentary for QQ1 2025 is not provided in the dataset; consequently, the forward-looking commentary relies on the quantitative signals and the typical expectations for an exploration-stage gold company in a high-leverage, asset-light financial position.
Takeaways for investors: the QQ1 2025 results highlight a high-risk, high-uncertainty profile. Sustained losses, a precarious balance sheet, and an outsized need for external financing raise the bar for execution risk and capital discipline. Any investment thesis hinges on meaningful liquidity events (e.g., strategic partnerships, asset monetization, or debt restructuring) and clear progress on exploration milestones that could unlock asset value.
Key Performance Indicators
QoQ: -12.94% | YoY:-6.80%
QoQ: -12.93% | YoY:-6.79%
QoQ: -11.11% | YoY:-5.26%
Key Insights
Revenue: The data set shows no reported revenue for QQ1 2025. YoY/QoQ revenue figures are not available (N/A).
Operating Income: -$14,417 in QQ1 2025; YoY change: -6.80%; QoQ change: -12.94%.
Net Income: -$14,430 in QQ1 2025; YoY change: -6.79%; QoQ change: -12.93%.
Earnings Per Share (EPS): -$0.002 in QQ1 2025; YoY change: -5.26%; QoQ change: -11.11%.
EBITDA: -$14,417 in QQ1 2025.
Cost Structure: General + Administrative expenses $6,500; Other operating expenses $7,917; Total operating exp...
Financial Highlights
Revenue: The data set shows no reported revenue for QQ1 2025. YoY/QoQ revenue figures are not available (N/A).
Operating Income: -$14,417 in QQ1 2025; YoY change: -6.80%; QoQ change: -12.94%.
Net Income: -$14,430 in QQ1 2025; YoY change: -6.79%; QoQ change: -12.93%.
Earnings Per Share (EPS): -$0.002 in QQ1 2025; YoY change: -5.26%; QoQ change: -11.11%.
EBITDA: -$14,417 in QQ1 2025.
Cost Structure: General + Administrative expenses $6,500; Other operating expenses $7,917; Total operating expenses $14,417.
Cash Flow (Operating): -$16,032 in QQ1 2025.
Cash Flow (Financing): +$16,019 under net cash provided by financing activities.
Net Change in Cash: -$13; Cash at Beginning of Period: $13; Cash at End of Period: not disclosed.
Balance Sheet (selected): Total Assets $7,000; Total Liabilities $840,471; Total Stockholders’ Equity -$833,471; Short-Term Debt $705,623; Net Debt $705,623.
Liquidity Ratios (as provided): Current Ratio 0.00833; Quick Ratio 0.00833; Cash Ratio 0.
Leverage and Equity: Retained Earnings -$940,531; Common Stock $70; Other Liabilities $1; Total Liabilities & Stockholders’ Equity $7,000 (note: reflects the dataset’s figures).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Operating Income |
-14.42K |
-6.80% |
-12.94% |
| Net Income |
-14.43K |
-6.79% |
-12.93% |
| EPS |
0.00 |
-5.26% |
-11.11% |
Key Financial Ratios
operatingCashFlowPerShare
$-0
priceEarningsRatio
-140.86
Management Commentary
No earnings call transcript data were provided in the supplied information. Consequently, there are no management quotes or theme-based highlights to extract. If a transcript becomes available, Highlights could be organized by themes such as strategy, capital structure, exploration progress, and market conditions with context and significance for investors.
No transcript quotes available in the provided QQ1 2025 data.
— N/A
No transcript quotes available in the provided QQ1 2025 data.
— N/A
Forward Guidance
No formal forward guidance is included in the QQ1 2025 data set. Given the absence of disclosed revenue and the fragile balance sheet, the company has limited visibility into near-term revenue catalysts. Any forward-looking assessment hinges on potential liquidity events (debt restructuring, equity financing, or asset monetization) and progress on exploration milestones that could unlock asset value. Investors should monitor management commentary in subsequent filings or press releases for guidance on capital plans, debt maturities, and potential strategic partnerships.