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30 Apr 2020 08:30
30 April 2020
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Corporate Update
GoldStone Resources Limited (AIM: GRL), the West Africa focused gold exploration and development company quoted on AIM, announces that, further to the announcement of 16 March 2020, it has agreed, with Asian Investment Management Services Ltd ("AIMS"), to extend the drawdown period in respect of the AIMS US$3.0 million gold loan, of which US$0.3 million has already been drawn, to the end of June 2020.
Further to the announcement of 8 April 2020, the Company also confirms that it is working closely with its advisers and the Jersey Financial Services Commission to expedite the reinstatement of the Company as soon as possible. Delays to the process are though being experienced due to the COVID-19 pandemic.
The Company confirms that progress continues to be made at its Akrokeri-Homase Gold Project, as it targets achieving production in H2 2020.
Further updates will be provided in respect of the above as appropriate.
For further information, please contact:
GoldStone Resources Limited | |
Emma Priestley | Tel: +44 (0)1624 827 641/+233 (0)55 581 8855 |
Strand Hanson Limited | |
Richard Tulloch / James Bellman | Tel: +44 (0)20 7409 3494 |
SI Capital Limited | |
Nick Emerson | Tel: +44 (0)1483 413 500 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
About GoldStone Resources Limited
GoldStone Resources Limited (AIM: GRL) is an AIM quoted gold exploration and development company with projects in Ghana and Senegal that range from grassroots to advanced exploration.
The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t. The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.
The project hosts two former mines, the Akrokeri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,500 oz gold at 2.5 g/t recovered. It is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.
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