“GRL” GOLDSTONE RESOURCES LD ORD 1P
GOLDSTONE RES Currency GBX
Last Close 1.50 on 20-Nov-2009
WELCOME TO GOLDSTONE RESOURCES LTD. GoldStone is a global mineral exploration company based in South Africa with exploration skills that primarily focus on gold. The company explores mainly for hydrothermal gold but also for palaeoplacer gold and associated elements. Recently GoldStone has been granted the Sangola Permis de Recherche in Senegal. The Company will be able to commence exploration activities for gold in this area as soon as a decree is issued by the Mining Minister, which is expected to occur shortly. The exploration programme for the permit will commence with a structural and regolith study based on remotely sensed data.
During October 2009 the company entered into a joint venture agreement with a Ghanaian company to develop the Homase Prospecting License. The license is located within the well mineralised Ashanti Gold Belt in Ghana where more than seventy million ounces of gold have been discovered. Historical drilling on the permit area by previous explorers resulted in the discovery of gold mineralisation along three kilometres of strike. The legal due diligence phase for the Homase joint venture is nearing completion and the compilation of the historical drill data into a three dimensional model is about to commence. This work will be directed at quantifying a compliant gold resource.
The company also has pending renewals/applications in Mali and India. The company intends to add additional value by searching and acquiring new gold prospects that have speculative appeal and potential to be economically exploited. Once acquired, the company’s strategy is to develop a project towards the Bankable Feasibility Stage or to possibly commercialise the project earlier by means of either selling it outright or entering into a joint venture for further development with a major partner.
Since its inception the company raised approximately US$ 16.5 million from both private and public sources to fund its exploration programmes. Company Information and Trading Information Domiciled in Jersey (Channel Islands) Managed from Cape Town, South Africa with representation in Ghana and Senegal
Admission on AIM: 25 March 2004
Fiscal Year: 1 March to 28 Feb
Accounting Standard: IFRS FTSE index:
FTSE AIM All-Share,FTSE AIM All-Share - Basic Resources FTSE sector:
Mining FTSE sub-sector: General Mining Country of share register: GB (Jersey)
Segment: AIM MiFID Status: MTF SEDOL: 3438835
ISIN number: GB0034388354
