GoldStone defers gold loan further, plans to raise additional funding

1st March 2021 By: Tasneem Bulbulia - Creamer Media Reporter

Aim-listed GoldStone Resources has agreed with Asian Investment Management Services (AIMS) a further deferment of the gold loan interest payment to June 30 (previously deferred to March 31), and the exercise of warrants by AIMS of over 40-million new ordinary shares which provides £1.2-million of additional funding to the company.

The company remains on track to achieve the first gold pour at the Homase South Pit within the Akrokeri-Homase (AKHM) project in south-western Ghana, within two months of the award of the environmental permit on February 11.

The deferment agreement provides additional time and working capital to enable the company to meet the gold loan interest payment and begin revenue generation.

Following the award of the environmental permit, the proceeds of the warrant exercise will be used to meet ongoing costs associated with the ramp up of operations at AKHM.