Goldstone Resources Share Discussion Threads

[htrocka2] 21/7/2014 21:05

goodbye Tunnelking.

[the stigologist] 21/7/2014 18:41

Like being rescued by pirates ?

Give us your booty or you walk the plank.

[shavian] 21/7/2014 18:38

Lifeline to rescue a sinking ship, more like.

[the stigologist] 21/7/2014 18:10

The Management have in effect given up control of the Company for no premium.

Disaster for GRL shareholders.

Rats leaving a sinking ship comes to mind.

[htrocka2] 21/7/2014 17:51

Stigologist..wrong again...consolidation is not a nail in a coffin..

[russ505] 21/7/2014 13:22

xxx://www.brrmedia.co.uk/event/124733/christopher-hall-non-executive-chairman

[the stigologist] 21/7/2014 12:14

next nail in the coffin will be consolidation and renewed round of dilution

[the stigologist] 21/7/2014 12:14

Really poor deal for shareholders

Management get to keep their jobs and wages for failure

Shareholders who paid 5p and 10p plus to fund exploration get the assets 'given away' at 0.6p

[htrocka2] 21/7/2014 11:58

In my humble opinion...it was STRATEX's latest drill results in Senegal that initiated the move into GRL so as to gain access to their nearby Licences.... and thereby give Energy Mining Corp S.A, who have a 15% in the project, confidence of continuity to warrant setting up a mining operation. Stratex will obviously start mining there own licence....but the 18 month warrant period guarantees them access to 51% of GRL....let's see if they exercise them.



from GRL' website...

Figure B2: The Kenieba Inlier of Birimian Formation is the focus of exploration by several well established gold mining and exploration companies. These include Teranga Gold (previously MDL), Randgold Resources, Stratex, Iamgold and Bassari Resources. All of these companies have been successful in delineating significant gold mineralisation in this area.


Now we need to know what the deals are?

[ajseabright] 21/7/2014 10:32

Think it's time to buy some more!

[lasting44] 21/7/2014 10:11

Stratex certainly think Goldstone are onto something good !

[htrocka2] 21/7/2014 09:26

From Pro-Active Investor (this morning)

Stratex International (LON:STI) said it is taking an initial 33.4% stake in fellow AIM mining exploration group Goldstone Resources (LON:GRL) in an all-paper deal worth £1.25mln.

Stratex's holding will rise to 50.1% with the exercise of warrants and it will receive two seats on the restructured Goldstone board.

Goldstone's key assets are the Homase and Akrokeri properties in Ghana, which are host to a 602,000 ounce resource. It holds 100% of the latter and 65% of the former, with the option of going to 85%.

The licences butt up against AngloGold Ashanti's 42mln-ounce Obuasi gold mine, Ghana's largest producer.

Goldstone's other assets include Sangola exploration project in Senegal (around 100km west of Stratex's Dalafin project) and two earlier stage projects in Gabon.

Goldstone was hit by the withdrawal of Randgold Resources from its joint-venture focused on developing Sangola.

The exit of the mining giant occurred when it was realised the deposit was unlikely to meet Randgold's exacting hurdle rate of being a 3mln ounce deposit grading 3 grams per tonne of gold.

Stratex believes the asset has "significant unexplored potential".

Chairman Christopher Hall told investor: "We are very pleased to have reached agreement with the board of Goldstone; this transaction will further Stratex's stated strategy of investing in quality opportunities arising in our sector in order to accelerate exploration progress.

"We believe the combination of Goldstone's assets, particularly the advanced Homase-Akrokeri property in Ghana, with the financial and technical strengths of Stratex will be a win-win for both companies.

"The proper development of all of Goldstone's exploration properties has been held back by a lack of resources, resulting from the continuing poor market for exploration funding. We look forward to working with Goldstone's capable management team to finalise and undertake tightly focused programmes designed to add maximum value at minimum cost.

"We are particularly pleased to have found a company with an existing resource that can be worked on, to demonstrate real economic value in a shorter time frame than from conventional grass roots exploration.

"There will undoubtedly be some synergies in Senegal where, in spite of the recent withdrawal by Randgold from the Sangola project, because it did not offer a fast, clear route to their 3mln ounces at 3 grams per tonne target, we believe there is still significant unexplored potential."





'the issue of warrants to Stratex to subscribe for 20,833,333 New Ordinary Shares at a price of 7 pence per share for a period of 18 months from the date of Admission'

worth hanging onto for 18 months any way..

[izzyskint3] 21/7/2014 09:16

Worth reading.

[goldenshare888] 21/7/2014 09:14

Maybe,however with Unity at c 29% and STI at 33% with warrants to go to 50.1%, I don't really care.

GRL potential may now be unlocked AT LAST!!!!!!!!!

[jibba jabber] 21/7/2014 09:09

Shame, no one left here anymore.

[goldenshare888] 21/7/2014 08:17

I think STI achieved a 20 fold increase in their investment when they sold their c 33% interest in a project to Centerra!!

Plus they got a $20 million royalty too!!

Lets hope they do the same here.

[jibba jabber] 21/7/2014 08:00

Wasn't saying it was bad, just some NEWS at long last!

[goldenshare888] 21/7/2014 07:53

STI have negotiated a very shrewd deal in my view!

I hold both companies.

I cannot say the same for GRL board unfortunately.

The good news is that STI will be pulling the strings now and they really know what they are doing. They are also very experienced with turning resources into cash and striking deals on advantageous terms with major players.

GRL shares should re-rate now...........

[spacedust] 18/7/2014 15:05

ZZZZZZZ....LED had a placing recently which was done at a 780% premium....never seen anything like it. If only we had something like that at GRL

[htrocka2] 18/7/2014 12:18

Interesting read..(related topic)