Goldstone Resources Provides Positive Homase Mine Update
Why we think this is good
The RNS provides an encouraging update on the operational performance of the Homase Mine, with strong production results, improving feed grades, and reducing costs. This suggests the company is making progress towards positive operational cashflow. However, the lack of financial information limits the ability to fully assess the company's overall financial position and long-term sustainability.
Key Points
- Strong 2025 production at the Homase Mine, with 72.9 kg of gold doré poured as of 31 May 2025
- Maintaining average monthly stacked ore of 48,000 tonnes, with improving feed grades from Pit 1 expansion
- Costs reducing in line with targets, with average all-in cost of $1,814 per ounce
- Preparation work commenced for pit definition drilling of Pits 5 and 6 at Homase
- First sales of gold to the Ghana Gold Board in compliance with new regulations
Summary
Goldstone Resources Limited (AIM: GRL) has provided an interim update ahead of its final audited results for 2024, highlighting strong 2025 production at the Homase Mine, with 72.9 kilograms of gold doré poured as of 31 May 2025. The company is maintaining average monthly stacked ore of 48,000 tonnes and seeing improving feed grades from the expansion of Pit 1. Costs are reducing in line with targets, with an average all-in cost of $1,814 per ounce. Preparation work has commenced for pit definition drilling of Pits 5 and 6 at Homase. The company has also made its first sales of gold to the Ghana Gold Board in compliance with the new regulations.