Goldstone Resources Share Discussion Threads

[spacedust] 17/7/2020 22:45

Liar liar pantsonfire well said.

Also if anyone posts a negative comment it may not necessarily be a deramp. Im sure we can spot them.

Be patient with me ive been holding for over a decade and need 50p to br5rak even on the batch i bought many years ago.

I recently bought at 5p but im nit selling anything until 50p

[malcontent] 17/7/2020 21:55

Just ignore the trolls, and they soon move on

very short attention spans...

[justsomeguy] 17/7/2020 12:46

Updated GRL research note following updated DEP

[hazl] 17/7/2020 11:34

apologies wrong thread...for link

Still pleased with GRL.
Permit is still on time looking great in my opinion.

[stonesp2] 17/7/2020 11:33

Spacedust I honestly don't think so this time... cbwt..

[spacedust] 17/7/2020 11:27

MMs on this share need a hint of miniscule delay to tank this. Many were expecting permit news immimnently. Even this week. But now emma has confirmed its few weeks away the MMs will use this to tank the share price back down to 6p between now and emd of this month

[stonesp2] 17/7/2020 10:57

News could not be more positive...

[spacedust] 17/7/2020 10:07

Which is few weeks away so end of august i think

[yorkie14] 17/7/2020 09:09

Fantastic update from the lovely Emma, all we need now is the environmental licence and we start pouring that Gold.
IRR 382% unbelievable !!!

[highly geared] 17/7/2020 08:46

10p + when permits land to close the NPV gap.15p on first gold pour.

[maverick247] 17/7/2020 08:42

Production and drill programme all in a great gold environment - perfect

[hazl] 17/7/2020 08:28

'Ihe Board has also updated the financial model utilised for the DEP to bring it in line with the current gold price of approximately US$1,800/oz (versus US$1,300/oz used in the initial DEP) and to capture a reduced initial CAPEX of US$3.0m (versus US$6.9m in the DEP). As noted in the Company's announcement of 30 June 2020, this reduced initial CAPEX approach enables the Company to achieve first production within the timetable envisaged in the DEP whilst deferring certain elements of the project (including the elution plant, electrowinning and Gold Room) such that they can be funded from production cashflows. The combined effect of an increase in the gold price and the reduction in initial capital outlay is estimated by the Board to increase the originally estimated project NPV from US$19.5m to US$34.5m and the IRR from 143% to 382% (at a 10% discount rate and excluding financing costs). '

[hazl] 17/7/2020 08:27

'additional infill RC drilling programme with the objective to increase the mineable resource at depth at the Homase South Pit, which is expected to commence shortly. '

SEEMS GOOD TO ME.

[hazl] 17/7/2020 08:23

It is still over 7 to buy....its just the mid price they are playing around with.


IMO

[spacedust] 17/7/2020 08:22

Prrmot nres delayed. Thats zll the market needs to destroy this

[hazl] 17/7/2020 08:20

Brilliant!



That was what the market anticipated yesterday!

[malcontent] 17/7/2020 08:17

we are off

[spacedust] 17/7/2020 07:54

Permit news will be announced innfew eeeks so looking at august

[edgein] 17/7/2020 07:40

Wow superb updated IRR! The low cost shallow drilling should give a strong flow of news over the near term too.

Regards,
Ed.

[walter walcarpets] 17/7/2020 07:14

17 July 2020

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Extended resource drilling and updated DEP

GoldStone Resources Limited (AIM: GRL), the AIM quoted gold exploration and development company focused on bring its Akrokeri-Homase Gold Project ("AKHM") into production, announces that, in line with progress towards commencing production at the Homase South Pit and construction of the associated heap leach facility, the Company has planned an additional infill RC drilling programme with the objective to increase the mineable resource at depth at the Homase South Pit, which is expected to commence shortly.

The Homase South Pit, the first of the three open pits planned to be brought into production as detailed in the Definitive Economic Plan ("DEP") for its Akrokeri-Homase Gold Project ("AKHM") announced on 27 June 2019, extends 1,500 metres southwards from the historic Homase Main Pit, see Plan 1, which produced 52,500 oz gold at an average grade of 2.5g/t Au in 2002/03 by AngloGold Ashanti.

The proposed programme will seek to further define and extend the mineable resource down-dip at the Homase South Pit to a vertical depth of approximately 60 metres. As defined in the DEP, the Homase South Pit is currently targeting the oxide resource to a vertical depth of 30 metres. The programme will build on previous drilling completed by Goldstone in 2011-2012, which defined the Company's existing JORC resource, and which indicated increased grades in this area of 1.4g/t to 2.5g/t below the weathered zone of 30 metres.

The Company is also considering an additional drilling programme within the Homase Trend, extending northwards, by approximately 2,000 metres from the historic Homase Main Pit, encompassing the proposed Homase Central and North Pits, being the other two open pits defined in the DEP, see Plan 1, and the historical exploration pit, to the same depth of 60 metres, to further increase the mineable resource defined within the DEP.

Plan 1: Location plan of Proposed Mine



The Board has also updated the financial model utilised for the DEP to bring it in line with the current gold price of approximately US$1,800/oz (versus US$1,300/oz used in the initial DEP) and to capture a reduced initial CAPEX of US$3.0m (versus US$6.9m in the DEP). As noted in the Company's announcement of 30 June 2020, this reduced initial CAPEX approach enables the Company to achieve first production within the timetable envisaged in the DEP whilst deferring certain elements of the project (including the elution plant, electrowinning and Gold Room) such that they can be funded from production cashflows. The combined effect of an increase in the gold price and the reduction in initial capital outlay is estimated by the Board to increase the originally estimated project NPV from US$19.5m to US$34.5m and the IRR from 143% to 382% (at a 10% discount rate and excluding financing costs).

As detailed in the announcement of 27 June 2019, the DEP encompasses three open pits along the Homase Trend together with tailings from the Akrokeri Mine. The first of the three pits planned for production is the Homase South Pit, in respect of which the mining lease has been awarded. Following completion of the recent funding and in line with the Company's reduced initial CAPEX development plan, the Board anticipates, subject to timely receipt of the requisite environmental and operational permits, that the first gold pour from the Homase South Pit will be achieved in Q4 2020.

Whilst the lease initially only relates to the Homase South Pit, the DEP has been approved by the relevant authorities in Ghana in its entirety and the lease can therefore be renewed and/or extended to include additional pits along the Homase Trend as the Company's production plans advance.

The Company continues to work closely with the Ghanaian Minerals Commission and the Environmental Protection Authority to finalise the environmental permit and the Board expects that the environmental and operational permits will be awarded in the next few weeks. On receipt of the relevant permits, the Company will be in a position to immediately commence mining operations at the Homase South Pit, utilising contract mining, and construct the heap leach plant, with the target of achieving our first gold pour in Q4 2020.

Emma Priestley Chief Executive Officer commented:

"The updated DEP, to reflect the current gold prices and our current development plan, demonstrates the attractiveness of the AKHM project. The potential to further expand the mineable resource through the planned additional drilling programmes also offers further potential upside though our ability to increase the minable resource. We continue to believe that AKHM has the ability to deliver significant value for all shareholders, and we look forward to keeping shareholders updated as we move forward to achieving first gold production in Q4 2020."

[hazl] 16/7/2020 15:10

It certainly got far too low in my opinion.
Ought to be an interesting year ;news wise..

[maverick247] 16/7/2020 10:17

Mention in latest sponge bloghttps://spongeshare.com/2020/07/11/are-junior-resource-stocks-about-to-shine/