Last checked at 18 Mar 2019 07:00
18 March 2019
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Update regarding claim by a former director
GoldStone Resources Limited (AIM: GRL) provides an update regarding the claim against the Company by Hendrik Schloemann, a former director of the Company, first announced on 13 October 2016 (the "Claim").
Further to its announcement of 14 December 2018, the Company has withdrawn an appeal lodged with the South African Labour Court and whilst the Company is required to agree a payment schedule with Mr Schloemann's attorney, the Company is considering its options in this regard and in relation to the Claim with its advisers.
Further announcements will be made as and when appropriate.
For further information, please contact:
GoldStone Resources Limited |
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Emma Priestley / Bill Trew | Tel: +44 (0)20 7236 1177 |
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Strand Hanson Limited |
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Richard Tulloch / James Bellman | Tel: +44 (0)20 7409 3494 |
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SI Capital Limited |
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Nick Emerson | Tel: +44 (0)1483 413 500 |
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St Brides Partners Ltd |
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Susie Geliher / Juliet Earl | Tel: +44 (0)20 7236 1177 |
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.
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About GoldStone Resources Limited
GoldStone Resources Limited (AIM: GRL) is an AIM quoted gold exploration and development company with projects in Ghana, Senegal and Gabon 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 Akrokerri 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 52,000 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.