Goldstone Resources Share Discussion Threads

[goldgeezer] 24/10/2024 06:10

Good news re funding and debt conversion. Not only do we have increased stability, lower debt but the conversion price was higher than the market price. They know something positive is going on.

[trader465] 24/10/2024 00:05

Why you keep repeating the same rubbish?

Michael Barrymore keeps advertising his swimming classes but nobody takes any notice

[totally banjo] 23/10/2024 23:14

For the benefit of kenny and trader..........again! :-)

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.

[goldgeezer] 23/10/2024 18:56

Banjo - unfortunately he doesn't because it's very clear in the news reports. Fool proof explanations but beyond him.

[totally banjo] 23/10/2024 14:52

Kenny, you know jolly well that production will increase from January so not long to wait, then you will have every right to criticise if goals aren't starting to be achieved!

[totally banjo] 23/10/2024 12:15

kenny, I posted the last 'X' update on here 8th October, advfn make it very difficult to post pictures so you will have to use your imagination of a gold bar :-)

"GOLD POUR

Latest gold pour (290oz)

The company is on-track to establish its second shift and increase production."

[goldgeezer] 23/10/2024 08:32

It's no surprise you are a MSM man. I bet you've had several Covid jabs, drive an electric car and love the EU!!! It's wonderful you claim to understand investing but admit you don't have access to news. Oh boy!!

[kennyp52] 23/10/2024 08:07

Need one of those very informative weekly reports to confirm actual production and sales ?!?! This goes nowhere until they prove they are improving dramatically .

Banjo .. all those tweets you are on about .. nothing on their website .. what did they contain ? Refuse to join that X thing !

[spacedust] 23/10/2024 08:02

Gold prices breaking records almost weekly. Yet gold stock share prices are no way jeae their all time highs.

It all depends on the USA.

[goldgeezer] 23/10/2024 06:46

The last report stated dore gold. No mention of the purity. Could be 50-90%. I wonder if the share offers based on 650 ounce pure month are one and the same. This assumes 65% pure.

[goldgeezer] 22/10/2024 13:58

Yes, earlier messages from him state he made a very significant investment at 14.5p. A very bad decision but responding with lies is strange behaviour.

[totally banjo] 22/10/2024 12:32

To be fair there's only trader who's bitter and twisted!

[goldgeezer] 22/10/2024 12:27

Correct Banjo. Regular positive updates on the site development, plus proof of revenue / gold. Monthly production news is what's needed to get investors off the fence and once again, make the two clowns on here, look stupid.

[totally banjo] 20/10/2024 19:33

Goldgeezer posted "News is coming almost weekly recently"


Progress on Operations 6th August via RNS

Progress on Operations 7th August via 'X' (twitter)

Progress on Operations 23rd August via 'X'

Progress on Operations 24th September via 'X'

half yearly report 30th September via RNS

Progress on Operations 8th October via 'X'

That's almost weekly in my book!

[goldgeezer] 20/10/2024 14:56

He only posts to be disagreed with.

[goldgeezer] 20/10/2024 14:56

Ah ..... bad smell alert

[trader465] 20/10/2024 14:54

If you’re getting emotional you must be overexposed to poor performing junk companies?

[kennyp52] 20/10/2024 11:51

Where are these weekly news posts ? From their website ..

Nothing to see here - yet
When they post, their posts will show up here.

Not 1 post on X ?

No RNS in the last week .. post all of those weekly news releases please GOLDLOSER .. I have missed them 🤷‍a94;️🤣

[goldgeezer] 20/10/2024 07:03

News is coming almost weekly recently. Expect news regarding the increase in production very very soon. At 1000 ounces a month a fair value would be 5p.(1000 x USD1000 (FCF very pessimistic) x 12 x 0.75 (forex) x 4 (fair PE) / 714M = 5p)The two sad investors at 14p will still be crying which is a fun sugar coating.

[trader465] 20/10/2024 01:45

So your timeframe is 4-5 months at the earliest?

I’ve followed this company for 6-7 years, I think you are too optimistic. The rising gold price may keep the share price afloat here, but when production news lands, if it’s below expectations I would expect a 20-50% hit on the share price. If production is confirmed to be a poxy 1000oz per month then I expect the price to remain flat.

I agree with Kenny, keep the risk low in this pile of junk. I have 5 shares but will double my shareholding on good news such as the resignation of the board of directors.