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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
Sale of Burkina Faso Exploration Properties
In December 2011, Riverstone Resources notified us, per terms of a 2007 exploration earn-in agreement, of their intent to exercise their purchase option for our exploration properties in Burkina Faso. The sale of these exploration projects was completed in February 2012 upon receipt of $6.6 million of cash and 21.7 million Riverstone common shares valued at $11.4 million.
Management Changes
Effective January 31, 2012, Roger Palmer, formerly Vice President Finance and Controller of Golden Star, was appointed Vice President and Chief Financial Officer. He replaces former Senior Vice President and Chief Financial Officer, John Labate.

Adoption of Stock Appreciation Rights Plan

In February 2012, the Company's Board of Directors approved adoption of a share appreciation rights plan (the “Plan”). The Plan is intended to provide incentive compensation based on the appreciation in value of the Company's common shares over a specified period of time. Under the Plan, the Company may grant awards of share appreciation rights (“SARs”) to current and future directors, executive officers, employees and consultants of the Company and/or its subsidiaries (“participants”). The Plan will be administered by the Compensation Committee of the Board of Directors, which will determine which participants will participate in the Plan and whether SARs are to be granted to participants, as well the terms of the grants, including the vesting provisions applicable to specific SARs grants.

Upon exercise of a SAR, a participant will be entitled to receive an award amount determined by multiplying the amount by which the fair market value of one common share determined as of the date of such exercise exceeds the fair market value of one common share determined as of the grant date of such SAR. No SARs will be settled in shares; rather, all SARs exercises will be settled solely in cash. The Plan expires in February 2022. The maximum number of SARs that may be granted to any participant in any calendar year will not exceed 800,000 SARs, and participants will have no rights whatsoever as a shareholder of the Company or of a subsidiary in respect of any SARs.