REG - Goldstone Resources - Completion of Fundraising & Lifting of Suspension

Goldstone ResourcesAnnouncement

23/05/2024 16:45

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RNS Number : 7250P  Goldstone Resources Ltd  23 May 2024

Capitalised terms used but not otherwise defined in this announcement bear the
meanings ascribed to them in the Company's announcement of 10 April 2024
entitled "Conditional Fundraising and Notice of AGM" unless otherwise defined
herein.

 

23 May 2024

 

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

 

Completion of Fundraising and

Lifting of Suspension in Trading

 

GoldStone Resources Limited (AIM: GRL) is pleased to announce, further to its
announcement of 21 May 2024, that the Company has now received all funds in
respect of its subscription to raise total gross proceeds of £834,000 (the
"Fundraise"). Accordingly, the Company will issue 83,400,000 Subscription
Shares, 52,800,000 Conversion Shares, 14,090,000 Director Fee Conversion
Shares and 7,500,000 Adviser Fee Shares (the "New Ordinary Shares").

 

Lifting of Suspension in Trading

 

As a result of, inter alia, completion of the Fundraise, and following
publication of the Accounts on 10 April 2024, trading in the Company's
Ordinary Shares on AIM is expected to be restored with effect from 7.30 a.m.
on 24 May 2024.

 

Admission and Total Voting Rights

 

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and that dealings in the New Ordinary Shares
will commence at 8.00 a.m. on 24 May 2024. The New Ordinary Shares will be
issued as fully paid and will rank pari passu in all respects with the
Company's existing Ordinary Shares.

 

Upon Admission, the Company's issued ordinary share capital will consist
of 656,303,333 Ordinary Shares with one voting right each (the "Enlarged
Share Capital"). The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of Ordinary Shares and voting rights in the
Company following Admission will be 656,303,333. 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.

 

 

 

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.

 

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