Goldstone Resources Share Discussion Threads

[goldgeezer] 16/10/2024 13:49

Omg - I think I love you. That's hilarious

[goldgeezer] 16/10/2024 13:48

? ? ? you are remarkable.

[goldgeezer] 16/10/2024 13:47

GRL is a gold producer. It's hard to win an argue with an intelligent person, impossible with an idiot.

[trader465] 16/10/2024 13:42

The bankers are never in a hurry, the longer they wait to seize an asset the more advanced and valuable the asset becomes. Take a look at what happened at the RMM copper mine and the Minto mine. Shareholders lost 100% in both companies.

GRL has accumulated losses of $32.5m. They are a million miles from making money for shareholders and the integrity of the directors here is questionable.

[goldgeezer] 16/10/2024 13:40

Of course not. Gold having a higher market price is irrelevant to the gold loan but excellent for the CLN. Who would be stupid enough to suggest otherwise?

[bad gateway] 16/10/2024 13:26

Doesn't matter what the dollar value of the gold is imho. Matters that they lift production enough to pay off the gold they owe as the interest appears to be rising in gold not dollars.
Don't believe the lender will want to call anything in either as this looks to be a bit of a gold cow for them hence the constant deferments.
Up to Dec 2025 now before they consider calling it in? They're not exactly rushed are they?

[trader465] 16/10/2024 13:21

I stand corrected, I was taking my figures from the latest annual report.

So the 2000oz of gold borrowed value was $3m. They now owe 2311oz which @$2600 is $6m, plus they’ve apparently lost another 5553oz value $10m in heap leach.

[goldgeezer] 16/10/2024 13:06

Augusts 2,900 bar will clear it.

[bad gateway] 16/10/2024 13:05

and at 30th June was down to 1871 principle with 440 oz's interest so 2311?


GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Interim Results for the six months ended 30 June 2024

Gold Loan

The Company entered into a loan agreement with Asian Investment Management Services Limited ("AIMSL") in June 2020, for a gold loan of up to 2,000 troy ounces of gold at a price of US$1,500 per troy ounce, equating to a value of US$3.0 million before expenses. There have been approved extensions to the Gold Loan, which have culminated in a Standstill Agreement, announced on 3 January 2024, with AIMSL who provided the Company with the potential to defer repayment of the gold loan until 29 June 2024, this has subsequently been extended to 31 December 2025.

The outstanding principal of the Gold Loan stands at 1,871.31oz at 30 June 2024, with accrued interest of 440 oz.

[goldgeezer] 16/10/2024 13:03

2.2 months in 2025

[trader465] 16/10/2024 12:56

Page 11/12 of the annual report states the gold loan and acquired interest to be 2,630oz





[...]

[bad gateway] 16/10/2024 11:47

Thats not the problem I had with the gold loan at all trader/kenny. The problem I had was that you were bigging it up to be 2600 oz's or so and rising when in fact the principal is dropping and the total with interest now down to 2200 oz's.

[totally banjo] 16/10/2024 10:03

Me grow up, wow that's rich!

[kennyp52] 16/10/2024 09:45

bad gateway .. the problem with the gold loan is it’s higher than it was and is now costing near $2700 an ounce as opposed to $1500 an ounce value of the loan when taken out and shareholders were lead to believe they had over 5,000 ounces in the leach pads which would have cleared it completely and remove the risk of the loan being called in …. or is that the point .. the lender wants to control the situation and is going to make a fortune on repayment starving the company of revenue?

Tag team ? Grow up GG . Just 2 shareholders that have a realistic view on a badly run AIM gamble.

[goldgeezer] 16/10/2024 06:40

You need to study business life cycles. You are stuck in a rut of investing too early, losing money, selling out and becoming upset when the boom cycle begins. Do your own research and stop jumping in and out based on BB comments. Do your OWN research

[goldgeezer] 16/10/2024 06:26

The gold and CLN are not an issue when GRL produce 1000 ounces a month. All debt will be cleared within 12 months. The funds from the CLN were used on equipment for the pad 5 6 and 7. Money VERY well spent.

[bad gateway] 16/10/2024 06:12

Isn't the amount of gold owed in traders post incorrect too?
Thought I read in the interims last night that the principle was now just over 1800 oz's and the interest accrued 400oz's giving 2200 oz's?
If so good to see the no. coming down imo.

[totally banjo] 16/10/2024 00:06

For the benefit of kenny and trader (aka the tag team)

From the Interim Results for the six months ended 30 June 2024 (30 September 2024)

HIGHLIGHTS

Ramping up gold production at Homase Mine:

. Produced 1,333.81 ounces of gold in H1 2024.

· Significant infrastructure upgrades have enhanced long-term capacity.

· Focus on delivering gold production target of 1,000 ounces of doré a month from January 2025.



Continued to strengthen position in H1 2024:

· Recovery supported by additional funding and the deferral of a secured gold loan repayment to December 2025 and a successful fundraising initiative.

· Board strengthened with the appointment of Campbell Smyth, who brings over 30 years of experience in fund management, capital markets, and corporate finance.

· Ramp-up in production comes at an opportune time as the gold market continues to show resilience and strength.



CHIEF EXECUTIVE'S STATEMENT



I am pleased to report that GoldStone has made significant progress in advancing its gold projects in Ghana, which span the full development spectrum from exploration to production.



Our primary focus remains the production from, and exploration of, the Homase Mine, located within the highly promising Ashanti Gold Belt. While 2023 brought its challenges, particularly in meeting production targets, we have emerged in 2024 in a much stronger position. This recovery has been supported by the deferral of our secured gold loan repayment to December 2025 and a successful fundraising initiative.



At the producing Homase Mine, significant infrastructure upgrades have been implemented, enhancing the mine's long-term capacity. Accordingly, I am pleased to report that H1 2024, we produced 1,333.81 ounces of gold (2023: 124.80). Post period end, the Company has continued to produce approximately 250 troy ounces per month, with latest full month production in August 2024 being 236 ounces of doré.



Our optimisation strategy at Homase continues to progress well as we look to deliver 48,000 tonnes of stacked and agglomerated ore by the end of the year. The Company is currently stacking some 150tph on a single 12 hour shift , and towards the end of 2024, will be running two shifts, for a 24 hour operation, as we build up to 48,000 tpcm, which is expected to facilitate production of approximately 1,000 oz doré per month from the beginning of 2025, based on the current recovery rate of 68% and at a stacked grade of 1g/t.



The strategy also includes the development of additional heap leach pads, which are on track and within budget; Pad 5 was completed post period end, and earthworks for Pads 6 and 7 are underway.



A key pillar of the Company's strategy is to add additional gold resources to our portfolio. In line with this, we will continue exploration efforts along the Homase Trend, that will include core infill drilling to explore the deeper ore zones of Homase, and further explore the parallel zones that have been identified within the mining lease as announced on 8 July 2024. The Company does plan for further exploration programmes within the prospecting licences of Akrokeri and Homase, which enclose the Homase Mine, that includes the recent consolidation and review of all the historical data, at the former Akrokeri Underground Mine and its surrounding areas and develop other underexplored areas that hold potential for further mineral discoveries.



During the period, Bill Trew stepped down from the Board and Campbell Smyth has joined as a Non-Executive Director. Campbell brings over 30 years of experience in fund management, capital markets, and corporate finance, particularly within the venture capital and resource sectors.



Looking ahead, we are optimistic about GoldStone's growth prospects in the years to come as we improve both production and exploration at the Akrokeri-Homase project and unlock its full potential. Notably, our production ramp-up aligns with a gold market that continues to demonstrate remarkable resilience and strength, supported by diverse factors driving its long-term success.



The Board would like to thank shareholders for their continued support as we work towards fully realising the value of our assets and delivering long-term shareholder returns.

[trader465] 15/10/2024 21:55

Lol he only reads the positives. He obviously suffers confirmation bias as do most people who lose money.

In 2019 GRL borrowed 2000oz of gold at $1500 per oz value $3m

In 2024 GRL owe 2630oz of gold at $2600 per oz value $6.8m

GRL seem to have lost 5553oz in the heap leach value $14m

GRL market cap £7m

Where’s all the gold going?

Latest production is allegedly just 200oz per month

Planned production schedules may not be achieved as a result of unforeseen operational problems

In the event the gold loan cannot be repaid by December 2025 AIMSL can enforce security over the company assets.

It’s all in the annual report

[kennyp52] 15/10/2024 20:58

The day I need to take advice from Goldlozer is when I sell the lot and put it in a 4.5% interest bearing deposit account with zero risk 🤣🤣🤣🤣

[goldgeezer] 15/10/2024 14:12

Kenny - please get up to the present day and operation. You need to move on from your loses and focus on the future.

[totally banjo] 15/10/2024 12:30

Kenny, although I've had this stock for over 11 years I haven't been following it for years so can't answer that one.

After buying more recently I'm only interested in the future prospects which look very good in my opinion but only time will tell!

Right, back to hedge cutting

[kennyp52] 15/10/2024 12:24

totally banjo .. that is why they do all of the drilling and sampling .. to determine the gold per tonne .. not an exact science but it should mean any guidance on production is accurate within +/- 10% .

Why can they only produce 200 ounces a month when guiding multiples of this 2 years ago ? Its a simple question that simply does not fit with the information the company are giving out .

[totally banjo] 15/10/2024 11:28

It also must be pointed out that the projected figure of 1000 oz of gold per month is and only can be an estimate, as being a natural resource it can't be an exact figure!