Member Info for PaulJ8520

I'm more concerned about a buyout... £6M for 1.9Bn contained gold... there's an opportunity!

I can't believe they have finally informed the market of what their debt is...

"Net debt2 of US$440.2 million as at 31 March 2025 (31 December 2024: US$404.2 million). The Group's net debt increased due to US$18.4 million accrued bond interest, a US$16.0 million fair value adjustment amortisation expense and a net US$1.6 million reduction in unrestricted cash and DSRA balances."

I'm wondering if the recent large land clearances are something to do with increasing production. Perhaps they are being pushed by the Ghanaian authorities.

They started groundworks for pads 6 & 7 last August, my guess is that was below where current pads 1-5 are. Could be the waste dump as originally it was planned to be just up a bit from where the clearance has happened. Was thinking previously that the land above the offices was becoming the new location of the waste dump, so perhaps not. But this area above the offices has also expanded from the previous month, so any guess as to what that area is going to be used for.

It's good that they have the money for all these works and further development.

Ghana's annual consumer inflation eased for the fourth month to 21.2% in April 2025, reaching the lowest in eight months, largely due to the recent strength of the cedi. Both food (25% vs 26.5% in March) and non-food (17.9% vs 18.7%) prices experienced slower growth. On a monthly basis, consumer prices rose by 0.8%. source: Ghana Statistical Service

I was on about the area above the main site, nest to the north lake. Yes I see another section of leach pad or extra pond has been constructed. What this ultimately means is that they have excess funds to continue construction works, which for me is a positive signal.

It looks like there is a large amount of land being cleared to the left of the pit (which looks like a lake at present – pit 5 I think) north of Goldstone offices. I’m wondering if this is going to be the relocation of the waste dump or if is going to be something more interesting.

Interesting question LW, I'm not sure. If they were obtaining 522 ounces of dore at lower grades when the stacking has been maintained, why would there be a reduction?

SonOfABoo what are you on about saying GRL isn't a going concern?

Production:

November 311.6 pure gold troy oz @ $2633 = Revenue of $820,442

December 341.12 pure gold troy oz @ $2655 = Revenue of $905,673

January 428 pure gold troy oz @ $2919 = Revenue of $1,249,332

Feb/March (I know) 491 pure gold troy oz @ $2921 = Revenue of $1,434,211

Total Revenue $4,409,658

Cost of sales in the order of $2,650,000 (crude estimate on 2022 &2023 accounts)

Gives Net Revenue before tax of $1,759,658 from 5 months of production

Gold Loan extended to 31st of December 2025 in order for GRL to deliver repayment plan

Company cannot de-list under the gold loan agreement.

Management fees reduced

Blue Gold loan converted

Gold loan interest dealt with

Ramp-up of production ongoing

Perhaps you can give us your view as to why this is not a going concern.

I was pointing out the warrants, not the fee conversions, both of which were publicised on the same day. Go read!

RNS Number : 9421J

Goldstone Resources Ltd

10 April 2024

"Goldstone Resources Limited (AIM: GRL) is pleased to announce that it has conditionally raised £1.82 million before expenses by way of a subscription by new and existing investors (the "Subscription") for, in aggregate, 182,000,000 new ordinary shares of 1 penny par value each in the capital of the Company ("Ordinary Shares") (the "Subscription Shares") at a price of 1 penny per share (the "Subscription Price"). Participants in the Subscription will also receive, for each Subscription Share, one warrant over a further new Ordinary Share exercisable at a price of 2 pence per share for 24 months from the date of issue (the "Warrants")."

Don't forget the warrants

10 April 2024, 182,000,000 @ 2p. £3,640,000 for 2 years

16 Mar 2020, 172,000,000 warrants @ 3p. £5,160,000 no end date that I could see

There are also warrants that expire next month as I remember

16 April 2025

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

Statement re Press Reports

Goldstone Resources Limited (AIM: GRL) notes recent press reports relating to the Ghana Gold Board Act passed

on 29 March 2025. The Board of Goldstone would like to reassure investors that the press statement made by

GoldBod, the Ghana Gold Board, in relation to trading prohibitions on the local gold trading market in Ghana with

effect from 30 April 2025, will not affect mining leaseholders such as Goldstone. Accordingly, the Board does not

foresee any impact on the Company or its operations.

**ENDS**

For further information, please contact:

GoldStone Resources Limited

Emma Priestley

Strand Hanson Limited

James Dance / James Bellman

S. P. Angel Corporate Finance LLP

Ewan Leggat / Charlie Bouverat

St Brides Partners Ltd

Susie Geliher

It applies to foreign 'traders'. Goldstone Akrokeri is a Ghanian company, the Govt. own 10%.

Its about trading in gold and illegal mining, I wish people would read things properly.

https://www.bbc.co.uk/news/articles/cpvr0x3mkl1o#:~:text=Ghana%20has%20banned%20all%20foreigners,streamline%20the%20country's%20mining%20sector.

I'm not sure, Neil Herbert mentioned shareholder issues Goldstone had to sort out which is 99% resolved, perhaps it's the 1% left?

None of that really matters when you have a relentless seller around.

Women's knickers to that statement about sentiment Father Jack. There's lots of other factors people are considering such as the quality of the board, Gold Price, political risk being in Ghana, lack of hitting targets etc. etc. The latest RNS mentioning the gold pour for March and a claiming that this is a 14% "monthly" increase was absolutely ridiculous. Things like that certainly don't help.

I'm not going to top up until after this seller is gone. Looking at the trades over the past few weeks from this seller, it amounts to over 3.6% of the company. So why no RNS? or are they one of the excluded financial institutions? What does make me cross is that the seller has pushed the price down considerably which the MM's have been complicit with. It's hardly what I would call an orderly exit from the market.

Found this from RNS 21 Dec 2018

- After the first 40 days of irrigation of a pilot heap leach plant, using 2.5 tonnes of material from Homase South, within the Homase Trend, recoveries are 67.5%, with irrigation continuing through to extinction

- The University of Mines and Technology (UMaT) in Tarkwa, Ghana, estimates that the leach cycle will be 65 days with recoveries of up to 80%