Aim-listed GoldStone Resources expects the definitive economic plan (DEP) for its Akrokeri-Homase gold project, in Ghana, to be completed during the second quarter.
The DEP assesses the capital requirements, operating costs and timelines in respect of developing an operational mine on the Homase Trend, which is a key milestone in the company’s strategy to become a gold producer.
The Homase Trend is an about 8-km-long gold-in-soil anomaly within the Akrokeri-Homase project, located on the northern end of the Ashanti goldbelt, in Ghana, which is also 12 km along strike from AngloGold Ashanti’s Obuasi gold mine.
A UK company called MAED, which is owned by GoldStone nonexecutive chairperson Bill Trew, is undertaking the DEP.
The company hopes to have the plan ready for final government approval by May. MAED preliminarily said that a low-tonnage, gravity and combined heap leach facility can achieve early-stage cash flow with minimal capital expenditure.
Meanwhile, Optimal Development Consult has been assigned to complete the environmental-impact assessment, which is a prerequisite to obtaining a mining licence.
The company also expects results of additional trenching that targeted the mineralised zone along the Homase Trend to the north of the existing Homase openpit, to be released in the second quarter.