GoldStone secures extension to loan, interest payment dates
Aim-listed GoldStone Resources has agreed an extension to the terms of the standstill agreement originally entered into on December 29, 2023, in relation to its existing gold loan agreement with Asian Investment Management Services (AIMS) entered into on June 19, 2020, pursuant to which the maturity date of the gold loan has been extended and interest payments have been temporarily deferred.
Under the revised terms of the standstill agreement, the maturity date of the gold loan has been extended from December 31 this year to June 30, 2027.
Also, the interest freeze on the loan has been extended from June 30 this year to September 30.
“We sincerely appreciate the continued support of AIMS and their confidence in GoldStone’s strategy. The extension of the gold loan maturity and temporary deferral of interest payments provide the company with additional financial flexibility at an important stage in our development,” CEO Emma Priestley says.
“Our immediate focus is on advancing the Homase mine through an extensive drilling programme designed to expand and upgrade the Joint Ore Reserves Committee mineral resource, while continuing to optimise operations in the current strong gold price environment.
“Together with our ongoing funding initiatives, these measures position GoldStone to deliver the next phase of its growth strategy and create long-term value for our shareholders,” she adds.
The company is focused on developing the Akrokeri-Homase project in south-western Ghana.
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