Golden Saint Resources (LON:GSR) is a relatively new addition to the Alternative Investment Market and holds three Exploration Licences in Sierra Leone. Its primary focus is on becoming a diamond and gold producer with near term diamond cash flow seen as a first priority.
Golden Saint Resources is led by its founder and now Executive Chairman Cyril d’Silva, a Singaporean born entrepreneur with extensive experience of working in West Africa and a broad network of business contacts in South East Asia. Cyril d’Silva is aided by board members including David McDonald who has over 20 years’ experience in Business Law and Simon Lawton who has extensive experience as a Finance Director.
Following its first 12 months as a London listed stock, Executive Chairman Cyril d’Silva has taken time out during a London visit to discuss various aspects of the business, including, its management, business model, operating in Sierra Leon, diamond market, investment overview and market sentiment.
Q1. Briefly, could you set the scene with a brief background on Golden Saint Resources?
Golden Saint Resources (GSR.L) listed on AIM is a natural resources company with assets in Sierra Leone and is focused upon exploration licences prospective for diamond and gold in three districts (Tongo, Baja and Moa). GSR licences are extensive and total 340 km2 encompassing multiple areas which have a long history of artisanal and small scale diamond and gold mining in each region in addition to reported diamond deposits.
Known alluvial and hard rock diamond deposits are located within a reasonable distance of each region and all are considered prospective for both alluvial and hard rock (kimberlite) diamond deposits. Sierra Leone is politically stable and is attracting world class investment groups not only into its diamond industry, but also gold, iron ore, bauxite and heavy minerals. Nearby examples of note are Koidu Holdings (ramping up diamond production to 500k carats per annum); and Amara Mining developing the Baomahun gold mine (currently 2.8m ounce gold resource).
In addition to its exploration licences, GSR has formed Golden Saint Diamonds Ltd which sponsors local artisanal miners supplying them with mining equipment and water pumps. As such GSR is not only able to realise near term revenue from its own alluvial mining but also through the purchase of diamonds from the artisanal and small scale miners at favourable prices for them. This…
