REG - Goldstone Resources - Notice of Final Results & Operations Update

Goldstone ResourcesAnnouncement

Today 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250618:nRSR2747Na&default-theme=true

RNS Number : 2747N  Goldstone Resources Ltd  18 June 2025

18 June 2025

 

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

 

Notice of Final Results & Operations Update

 

Goldstone Resources Limited (AIM: GRL) is pleased to announce that the Company
intends to publish its final audited results for the year ended 31 December
2024 (the "Final Results") on 30 June 2025.

 

The Company also wishes to provide an interim update to shareholders ahead of
the release of the Final Results:

 

·   Strong 2025 production at the Homase Mine in south-western Ghana
("Homase"), with 72.9 kilograms of gold doré, equivalent to approximately
2,343 ounces of gold doré poured in 2025 as at 31 May 2025, averaging 468
ounce of gold doré per month.

·    Homase maintaining the average 48,000 tonnes of agglomerated stacked
ore per month, and feed grade improving with the expansion of Pit 1.

·   Costs reducing in line with targets as the Company advances towards
positive operational cashflow, with an average all in cost per ounce at
USD1,814 per ounce to 31 May 2025.

·    Preparation work commenced for the pit definition drilling of Pits 5
and 6, along the Homase Mine, which includes crop compensation, access and
drill pad preparation.

·    First sales of gold to the Bank of Ghana's gold trading authority,
the Ghana Gold Board ("GoldBod"), in line with the Company's Sales Agreement
with the Ministry of Lands and Natural Resources, and in compliance with the
new Ghana Gold Board Act, pursuant to which 20% of total production is
required to be sold to GoldBod at a 1% discount to the London Bullion Market
Association quoted spot price on the day of sale.

 

Emma Priestley, Chief Executive Officer, commented:

 

"I continue to be encouraged by the turnaround in operational performance at
Homase, and we remain optimistic about continuing this upward trajectory
throughout the remainder of 2025.  I look forward to presenting the 2024
accounts at the end the month, which will provide further detail about the
work conducted last year and how this has supported the dramatic uptick in
productivity that we now see.

 

"I'm also pleased to confirm that our gold sales are fully compliant with the
Ghana Gold Board Act. Our strong and constructive relationship with the
Ghanaian authorities remains a key pillar as we work to unlock the full
potential of both Homase and Akrokeri for the benefit of all stakeholders."

 

**ENDS**

 

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
                                     Tel: +44 (0)20 7236 1177

 St Brides Partners Ltd

 Susie Geliher

 

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development
company with projects in Ghana that range from grassroots exploration to
production.

 

The Company is focused on developing the Akrokeri-Homase project in
south-western Ghana, which hosts a JORC Code compliant 602,000oz 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. Production is currently focussed on the Homase Mine
however 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.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSFMEFWEISELM