23. SEGMENTED INFORMATION

Segmented revenue and results

The Company has reportable segments as identified by the individual mining operations. Segments are operations reviewed by the executive management. Each segment is identified based on quantitative and qualitative factors.



For the Years Ended December 31,	Wassa			Prestea			Other			Corporate			Total
2017
Revenue	$	167,376		$	148,121		$	—		$	—		$	315,497
Mine operating expenses	115,625			81,753			—			—			197,378
Severance charges	6,316			2,916			—			—			9,232
Operating costs from/(to) metal inventory	5,080			(4,913		)	—			—			167
Inventory net realizable value adjustment	2,410			—			—			—			2,410
Royalties	8,652			8,643			—			—			17,295
Cost of sales excluding depreciation and amortization	138,083			88,399			—			—			226,482
Depreciation and amortization	20,052			11,740			—			—			31,792
Mine operating margin	9,241			47,982			—			—			57,223
Income tax recovery	(12,944		)	—			—			—			(12,944		)
Net income attributable to non-controlling interest	1,693			495			—			—			2,188
Net income/(loss) attributable to Golden Star	$	17,644		$	50,050		$	(3,701	)	$	(25,222	)	$	38,771

Capital expenditures	$	21,583		$	48,055		$	—		$	—		$	69,638

2016
Revenue	$	112,341		$	108,949		$	—		$	—		$	221,290
Mine operating expenses	92,938			73,046			—			—			165,984
Severance charges	113			(184		)	—			—			(71		)
Operating costs to metal inventory	(5,149		)	(1,420		)	—			—			(6,569		)
Inventory net realizable value adjustment	1,190			—			—			—			1,190
Royalties	6,483			5,599			—			—			12,082
Cost of sales excluding depreciation and amortization	95,575			77,041			—			—			172,616
Depreciation and amortization	15,094			6,066			—			—			21,160
Mine operating margin	1,672			25,842			—			—			27,514
Net loss attributable to non-controlling interest	(587		)	(1,529		)	—			—			(2,116		)
Net income/(loss) attributable to Golden Star	$	603		$	28,687		$	(6,096	)	$	(62,841	)	$	(39,647	)

Capital expenditures	$	41,805		$	42,413		$	88		$	50		$	84,356

Segmented Assets

The following table presents the segmented assets:



	Wassa		Prestea		Other		Corporate		Total
December 31, 2017
Total assets	$	195,180	$	158,715	$	4,257	$	2,237	$	360,389

December 31, 2016
Total assets	$	175,738	$	109,691	$	8,786	$	4,635	$	298,850

Information about major customers

Currently, approximately 90% of our gold production is sold through a South African gold refinery. Except for the sales to RGLD as part of the Streaming Agreement, the refinery arranges for the sale of gold on the day it is shipped from the mine sites and we receive payment for gold sold two working days after the gold leaves the mine site. The global gold market is competitive with numerous banks and refineries willing to buy gold on short notice. Therefore, we believe that the loss of our current customer would not materially delay or disrupt revenue. Refer to Note 25 for further discussion on the Company's exposure to credit risk.