Golden Star Resource Corp. Reports $37,853 Net Loss for Six Months Ending December 31, 2024

Golden Star Resource Corp. reported its financial results for the six months ending December 31, 2024, revealing a net loss of $37,853, compared to a loss of $24,848 for the same period in 2023. The company has not generated any revenue since its inception and continues to operate in the exploration stage. The basic and fully diluted loss per share remained at $(0.01) for the six-month period, consistent with the previous year. The total liabilities increased to $859,696 from $821,854 as of June 30, 2024, primarily due to rising accounts payables and accrued liabilities.

In terms of operational metrics, Golden Star Resource Corp. maintained a consistent number of common shares outstanding at 7,070,000. The company’s cash position decreased to $2 at the end of the reporting period, down from $13 at the end of June 2024. The company’s working capital deficit also widened to $856,894 from $819,041, indicating ongoing financial challenges. The increase in liabilities is attributed to higher operational expenses, particularly in office expenses, which rose significantly from $5,000 in the previous year to $18,303 in the current period.

Strategically, the company has not made any significant acquisitions or product launches during this reporting period. The focus remains on the exploration of mineral properties, specifically targeting gold reserves. The company has not incurred any further expenditures on its mineral claims due to cash constraints, and the value of its mineral property has been written off in prior years. Management has indicated that the ability to continue operations is contingent upon securing additional financing, as the company has not yet identified any commercially viable mineral reserves.

Looking ahead, Golden Star Resource Corp. faces substantial uncertainty regarding its ability to continue as a going concern. The management has acknowledged the need for additional capital to meet operational obligations and maintain business continuity. The company plans to explore various financing options, including equity financing, to support its exploration activities. However, there is no assurance that the company will be successful in raising the necessary funds, which could impact its future operations and development plans.

Overall, Golden Star Resource Corp. remains in a precarious financial position, with ongoing losses and a reliance on external funding to sustain its exploration efforts. The company’s future will largely depend on its ability to secure financing and successfully identify economically recoverable mineral reserves.