REG - Goldstone Resources - Statement re. Suspension

Goldstone ResourcesAnnouncement

10/06/2022 14:30

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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 USD970oz. Target for full
production is mid-2022.

 

Located ~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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