REG - Goldstone Resources - Shipment and Loan Repayment Update
17/01/2022 07:05
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RNS Number : 5617Y Goldstone Resources Ltd 17 January 2022
17 January 2022
GOLDSTONE RESOURCES LIMITED
("GoldStone" or the "Company")
Shipment and Loan Repayment Update
GoldStone Resources Limited (AIM: GRL) is pleased to report that it has
completed its second gold pour at the Homase mine. The first pour on 30
November 2021 yielded approximately 14.46 kilos of gold doré, and the second
pour just completed has yielded 28.50 kilos of gold doré. These first two
pours have been exported to the Company's off-taker in Switzerland, resulting
in refined gold bullion of 40.67 kilos and 1.71 kilos of refined silver
bullion.
The Company is pleased to announce that the Gold Loan repayments to Asia
Investment Management Services Limited ("AIMS") for October, November and
December 2021, as set out in the Company's announcement of 20 September 2021,
have now been satisfied.
It has been further agreed with AIMS that, in order to enable to Company to
efficiently manage shipments, it shall not be deemed an event of default if
the monthly payments set out in the Company's announcement of 20 September
2021 are not made at the end of each month. With effect from 1 January 2022,
interest on the outstanding balance of the Gold Loan shall accrue at a rate of
14% per annum and Company shall be required to repay the Gold Loan and accrued
interest in full (whether in one lump sum or by way of multiple payments from
time to time) on or before 30 September 2022, and failing to do so will be an
event of default.
A further update regarding operations and production will be provided in due
course.
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
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 2000oz pcm GRL expects an AISC
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