Goldstone Resources Ltd Statement re. Suspension (5194O)
June 10 2022 - 9:30AM
UK Regulatory
TIDMGRL
RNS Number : 5194O
Goldstone Resources Ltd
10 June 2022
10 June 2022
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Statement re Suspension
GoldStone Resources Limited (AIM: GRL) notes the suspension of
the Company's ordinary shares from trading on AIM following an
operational matter.
The Company confirms that operations at the Homase Mine are
continuing as usual and will provide a further update in due
course.
**ENDS**
For further information, please contact:
GoldStone Resources Limited
Bill Trew / Emma Priestley Tel: +44 (0) 1534 487 757
Strand Hanson Limited
James Dance / James Bellman Tel: +44 (0) 20 7409 3494
S. P. Angel Corporate Finance
LLP
Ewan Leggat / Charlie Bouverat Tel: +44 (0) 20 3470 0501
St Brides Partners Limited Tel: +44 (0) 20 7236 1177
Susie Geliher / Catherine Leftley
About GoldStone Resources Limited
GoldStone Resources Limited (AIM: GRL) is an AIM quoted low
debt, emerging gold producer via its 100% owned Homase Mine, which
started production in 2021. GRL has one of the lowest debt to
equity ratios of any emerging gold producer and when at full
planned production of approximately 2,000oz per calendar month GRL
expects an AISC of approximately USD 970 oz. Target for full
production is mid-2022.
L ocated 15km north-west of AngloGold Ashanti's Obuasi mine, in
the mineral-rich and highly prospective Ashanti Goldbelt. Homase
Mine is a series of shallow open pits producing approximately 20 -
24,000oz pa of gold, with a recently commissioned CIC treatment
plant, for the heap leach operation. First gold was poured in
November 2021, and the Company will be ramping up production during
H1 2022 .
The Homase Mine, hosts a JORC Code compliant 602,000 oz gold
resource at an average grade of 1.77 g/t. This is confined to a 4km
strike length, which the Company plans to explore, along strike and
down dip, in order to expand on the known resource. The mine was
formerly operated by AngloGold Ashanti in 2002/03 producing 52,000
oz gold at 2.5 g/t recovered.
The Company also hosts the former underground Akrokerri Ashanti
Mine, which produced 75,000 oz gold at 24 g/t recovered grade in
the early 1900s. It is the Company's intention to commence
exploration of this former mine in the near future.
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END
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