REG - Goldstone Resources - Conversion Shares Update

Goldstone ResourcesAnnouncement

28/01/2025 07:00

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RNS Number : 8647U  Goldstone Resources Ltd  28 January 2025

28 January 2025

 

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

 

Conversion Shares Update

 

GoldStone Resources Limited (AIM: GRL), is pleased to announce, further to its
announcement of 23 December 2024, the Conversion Shares and Consideration
Shares (together, the "Devonport Shares") have been allotted to Devonport
Capital Limited and this constitutes full and final settlement of the
Convertible Loan Notes. The Devonport Shares amount to, in aggregate,
147,692,308 new Ordinary Shares, equal to approximately 16 per cent. of the
enlarged issued share capital of the Company following Admission.

 

Admission and Total Voting Rights

 

Application has been made to the London Stock Exchange for the Devonport
Shares to be admitted to trading on AIM ("Admission") at 8.00 a.m. on or
around 29 January 2025. The Shares will be issued as fully paid and will rank
pari passu in all respects with the existing Ordinary Shares, including the
right to receive dividends and other distributions declared on or after the
date on which they are issued.

 

Upon Admission, the Company's issued ordinary share capital will consist of
900,186,117 Ordinary Shares with one voting right each. The Company does not
hold any Ordinary Shares in treasury. Therefore, the total number of Ordinary
Shares and voting rights in the Company will be 900,186,117. With effect from
Admission, this figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

Defined terms used in this announcement shall have the same meanings as in the
Company's announcement entitled "Convertible Loan Notes Update" dated 23
December 2024 unless otherwise defined herein.

 

For further information, please contact:

 

 GoldStone Resources Limited
 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

 

 

About GoldStone Resources Limited

 

GoldStone Resources Limited (AIM: GRL) is an AIM quoted gold exploration and
development company.

 

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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