IN BRIEF: Goldstone Resources Ltd - West Africa-focused gold development company - Issues GBP2.4 million of convertible loan notes to gold-mines operator Blue Gold International Ltd, which are due for redemption on November 30, 2024. The notes may be converted at any time prior to redemption into new Goldstone shares at a conversion price of 3.25 pence per share. BGL also receives warrants to subscribe for up to 60.0 million Goldstone shares at a price of 4.00p per share, at any time until January 26, 2025.
Goldstone Chief Executive Officer Emma Priestley says: "Blue Gold shares our vision for the expansion of the Homase mine and the potential development of the Homase-Akrokeri project in Ghana. In what remains a challenging market for the natural resources sector, we welcome and value the support of Blue Gold, who we believe will assist the company in this business venture, and in making significant progress in Ghana."
Current stock price: 3.50p, down 9.0% on Friday, for GBP17.3 million market capitalisation
12-month change: down 62%
By Tom Budszus, Alliance News reporter
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Goldstone Resources (GRL)