Goldstone Resources Share Discussion Threads

[the stigologist] 19/9/2014 09:08

lol retail punters and their 'free rides' that they spend their time posting about constantly for years

pmsl

[htrocka2] 19/9/2014 08:34

Stig...you've obviously have not been here long....I'm an investor as these are.(dated 19TH September 2014).. .... Only PI punters such as yourself have bailed out...that's your choice.


(*note the consolidation figures of top 20 holders dated October 2014))

From Unity's website

GoldStone Investment
Unity’s equity holding in GoldStone was diluted to 31% during the 2014 financial year as a result of two share
placements and the issuing of shares to GoldStone executives in lieu of salary. In April 2014, GoldStone announced
that it received notice of termination from Randgold Resources (Senegal) Limited (‘Randgold’) in relation to
GoldStone’s joint venture with Randgold over the Sangola license in Senegal. Exploration was undertaken by
GoldStone on the Manso Amenfi project, located on the Ashanti Gold Belt in Ghana, with initial results from the
trenching program yielding wide zones of gold mineralisation.
In July 2014 GoldStone announced a proposed subscription for shares by AIM-listed Stratex International Plc
(‘Stratex’) to raise gross proceeds of £1.250 million. The conditional share subscription represents approximately
33.4% of the enlarged issued share capital of GoldStone. If the subscription proceeds as planned, Unity’s ownership
of GoldStone will be diluted to approximately 19.3%. Stratex will also be issued warrants to subscribe for additional
shares. If exercised, these warrants would allow Stratex to increase its stake in GoldStone to just over 50%, at which
point Unity would hold approximately 14.5% of GoldStone’s enlarged share capital. The proposed subscription is
subject to GoldStone shareholder approval and certain waivers from the UK Panel on Takeovers and Mergers.

[the stigologist] 18/9/2014 22:45

htrocka is just a mug punter who held all the way down from 10p+

[jibba jabber] 18/9/2014 22:38

are you one then htrocka? lol, what the hell you doing??

[htrocka2] 18/9/2014 21:54

jibba....take it from...they do.

[jibba jabber] 18/9/2014 21:39

I hope the directors look at these boards from time to time, what the hell is going on here?

[farmersutical] 17/9/2014 19:14

......................................................................................................................................................................................................................................................................tumble ............................................................................................................................................................................................weed...................................................................................................................................................................................................................................................................................................................................................

[the stigologist] 17/9/2014 16:25

it'll be the last post for this soon

[jibba jabber] 17/9/2014 15:21

Oh dear, not a single post since Sep 4th?

[the stigologist] 04/9/2014 23:16

STI stock cratering

they are specialists in investing in hopeless early stage projects which eat cash

look at their thread they are revolting against their rubbish Msnagement the same mugs who decided to invest in basket case GRL

[hsaundh] 01/9/2014 08:45

chunky buy - 1.4M

[the stigologist] 31/8/2014 14:23

lol this stock is toast

they can't even afford to drill to 100m let alone 1000m !

[htrocka2] 31/8/2014 14:15

A £250m bet being placed on the new gold cycle.

[htrocka2] 29/8/2014 08:52

The depressed read was expected, they have been running on vapours for the past six months, however, if the directors intend to supplement the 50% salary reduction with shares...it certainly is an opportune time to do it.(and nice to know that the £1.25m is not going towards back payment of salary reduction)

I've always found it curious why the Homase surrounding licences have far,far higher JORCs than GRL...and have concluded that while they have been drilling at between 140 and 215 metres, AngloGold, in the adjacent licence, were mining gold at 1200 metres?

from GRL'S Homase Drill report.
-- Drill results extend the known part of the high-grade shoot under the northern part of the Homase pit from 140 metres to 215 metres below the base of the pit
(the pit has been open cut to about 40m depth)
Jurie did state that he would review this anomaly

I'm expecting the ownership of the Homase Licence to extend to 85%.

I dislike giving price targets....but fairly confident to call this is the bottom.

[tunnelking] 29/8/2014 08:25

Depressing read.....but expected

[hsaundh] 29/8/2014 07:30

There you have it.... not to happy about the consolidation, they never seem to work out. Although we have another chance to let the drill bit do the talking. Fingers crossed!!

GLA

[harris2000] 27/8/2014 23:47

Wassa verdict, is Agincourt gone for good?

[htrocka2] 24/8/2014 20:19

Rings a bell.





ps...the following was cut and pasted from the iii board


'Consolidation only works when the share price is strong otherwise it just gives it more room to fall. Hopefully the Stratex investment will get us towards production quickly and prevent it'

STI are not pumping in £1.25m to see it's investment erode.



pps..looks like physical gold could soon find it's true value...as it will soon have to compete with printed ETFs

[htrocka2] 23/8/2014 12:27

From 'MineSite' ('and anything that we (STI) do (in Ghana) will be through Goldstone.")





21 Jul 2014 by Alastair Ford


"We first met Goldstone at Indaba in February of this year", says Stratex chairman Chris Hall.

"We liked the resource and the jurisdiction, and we liked that it was in the shadow of Obuasi's headframe."

Obuasi, as seasoned investors in the mining sector will know, is the one-time AngloGold flagship in Ghana, lately fallen on hard times, but which has nonetheless produced several million ounces of gold in the last decade alone.

It's a premium mining address, and one which Goldstone Resources has not been slow to turn to account. To date, Goldstone has managed to prove up over 600,000 ounces of gold at its Homase/Akrokerri project, and there should be more to come.

But Goldstone needs help. "It's a very small company", says Chris, "and was going to struggle to raise money in this market".

Which is why the February meeting at Indaba was propitious. Five months on, and Stratex has now agreed to pump £1.25 million into Goldstone in return for a 33.4 per cent equity stake, and warrants that could take the overall stake up to 50.1 per cent.

The price, 0.6p a share, represents a discount of around four per cent on the prevailing Goldstone share price before the deal was done, and shows just exactly who was wearing the trousers when this deal was put together.

Stratex will appoint two directors to the Goldstone board, probably Chris himself and colleague Bob Foster, and will also get to nominate an independent director.

But having said all that, Goldstone Resources isn't likely to be swallowed up by Stratex altogether, and for a very good reason.

"We're hoping to consolidate our activities in West Africa into Goldstone", explains Chris.

At present, Stratex has three principal areas of activity – Turkey, East Africa, and West Africa. The company's East Africa operations are currently being consolidated into a new entity being created in conjunction with Thani, a wealthy family office based out of the Middle East.

The Turkish activities are subject to individual joint ventures, which should start to deliver cash flow to Stratex before too long.

That leaves West Africa, where the company has been investigating the potential of assets in Liberia and Senegal. The Liberian assets have not perhaps shone as brightly as investors might have hoped, but such is the nature of the prospect generation model that Stratex works too – some you win, some you lose.

And so, by contrast, the Dalafin project in Senegal is now looking extremely promising, following the release of a further round of drill results late last week. "The jury's out on Liberia", says Chris, "but Senegal is working out very well."

The best result from the recent drilling was 12 metres at seven grams per tonne, including 4.5 metres at 16.98 grams. But it was by no means an isolated hit. The drilling also returned 9.6 metres at 16.08 grams, 2.9 metres at 21 grams, and 3.8 metres at 1.43 grams, all from the Faré South prospect. Further positive results were also returned from the Madina Bafé prospect.

So there is a sense in which Dalafin, as a prospect that's now showing real potential, is looking for a home. And Goldstone Resources also has a project in Senegal, not too far away. "There will be synergies", says Chris, and that's all to the good.

But right at this moment, it's not the main event. "The key is Ghana", continues Chris. "There is lots of opportunity in Ghana. It's a bit neglected in a way, and overdue for a picking over."

Other countries in the region, like Mali and Burkina Faso, have been hogging the limelight and the exploration dollar for long enough, he reckons. And now Stratex is in Ghana, he senses real potential.


First off will be work at Homase/Akrokerri itself. "It's partly under a flooded pit", says Chris. "But we'll see if we can put together an economic resource. We've got to take all the information apart and rebuild it and try to get a mineable resource out of it. Once we've started on that, there's an awful lot of unexplored potential in Ghana. We're really looking at consolidating Ghana as a new jurisdiction, and anything that we do will be through Goldstone."

With £1.25 million of new money from Stratex, Goldstone will be well funded for the time being, and with exploration success there's every likelihood that Stratex will put further money in via the warrants. After that though, the funding route will become more interesting, and it may be then that a deal on Dalafin can be done.

Injecting Dalafin into Goldstone in exchange for more equity would make a lot of sense. If at that stage Homase/Akrokerri looked like becoming an operating mine the viability of Goldstone would be assured.

There's some way to go yet, of course, including a vote from Goldstone shareholders, and the necessary granting of a whitewash by the Aim authorities to allow Stratex to go over the magic 29.9 per cent mark.

But Goldstone's major shareholder is on board, and the Aim authorities ought to be amenable. After all, this way, everybody wins – Goldstone gets funded, Stratex builds value, and with any luck share prices rise. Stratex's shares are already up 8.5 per cent on the news, and 40 per cent since the recent update from Dalafin. Chris is hopeful that this could be the start of a sustained upward push, particularly as Altintepe moves to production. We shall see.


personal comment...I'm certain that when Homase/Akrokkeri begin, that STI will insist on a contribution from Unity


In one of the next rns's I expect an increase in the Homase Licence to 85%

[htrocka2] 23/8/2014 08:23

Stig...Thanks for that Stig....I checked STI...and Surprise, Surprise.......guess who the largest shareholders in STI are......our ex-Chairman's company, Anglo-Gold-Ashanti...our nearest neighbour. (I always wondered what Johnathan Best' agenda was while he held the chair at GRL...he must have negotiated the Stratex deal)


( the grey boxed area in the map.. currently an ongoing $200m revamp at Obusai by AGA)





I was also very impressed with.. Dr Foster,CEO, who holds 7.7m shares with 5.2m options in the company...is a Bsc. Phd. FIMM. CEng. FGS. C.Geol...I have great respect for the people that hold these titles...and as a result of the search, feel confident of the eventual outcome going forward.

Significant Shareholdings(Stratex)

Shareholder Number of Shares Held at
5th August 2014
Holding

Independent Shareholders:


AngloGold Ashanti 53,710,219 11.49%
Exploration Capital Partners 2012 Limited Partnership 47,202,925 10.11%
BlackRock Investment Management 45,422,911 9.72%
Teck Resources Limited 35,727,487 7.65%
Orion Trust Limited 25,844,300 5.54%
Antofagasta 10,362,694 2.22%
Thani Ashanti 10,263,013 2.20%




Directors:


David Hall 12,684,624 2.71%
Bob Foster 7,368,527 1.58%
Perry Ashwood 1,744,485 0.37%
John Cole-Baker 785,669 0.17%
Christopher Hall 212,143 0.05%
Peter Addison 217,855 0.05%
Total Director Shareholdings 23,013,305 4.92%
Total Shares 467,311,276


Stratex. Unity, Lion-Gold, GRL, AngloGold......a lot of inter-connected wheels within wheels....every one seems to have a little piece of each other,(I'll rephrase that.......these inter-connected wheels are major shareholders in each other)

[the stigologist] 23/8/2014 00:18

just read the STI thread

they are a discredited management team who seem to run STI as a private vehicle rather than for shareholders