Exhibit 21

Subsidiaries of the Company

2003
Caystar Holdings (100%) Cayman Islands
	Bogoso Holdings (100%) Cayman Islands
		Bogoso Gold Limited (90%) Ghana
			Prestea Underground JV (66%) Ghana
	Wasford Holdings (100%) Cayman Islands
		Wexford Goldfields Limited (90%) Ghana
	GSR Exploration Limited (100%) Ghana
Société des Mines de Yaou & Dorlin ( SMYD) (50%) France
Guyanor Ressources S.A. (72.9%) France
	Société de Travaux Publics et de Mines Aurifères en Guyane (“SOTRAPMAG”) S.A.R.L. France
	Société des Mines de Yaou & Dorlin S.A. ( SMYD) (50%) France