Issue of Fee Shares

RNS Number : 6003S

Goldstone Resources Ltd

10 July 2020

 

10 July 2020

GOLDSTONE RESOURCES LIMITED

("GoldStone" or the "Company")

Issue of Fee Shares

GoldStone Resources Limited (AIM: GRL), announces the issue of 1,735,714 ordinary shares of 1 penny each in the Company ("Ordinary Shares") (the "Fee Shares") in respect of commission due to a third party adviser in relation to the gold loan secured from Asian Investment Management Services Ltd (the "Gold Loan"), as announced on 22 June 2020.  The number of Fee Shares to be issued in respect of such commission has been calculated by reference to the closing share price of 4.2p on 19 June 2020, being the last busines day immediately prior to the Gold Loan being entered into.

Admission and Total Voting Rights

The Fee Shares will rank pari passu with the existing Ordinary Shares and application will be made for the 1,735,714 Fee Shares to be admitted to trading on AIM ("Admission").  It is expected that Admission will become effective and dealings in the Fee Shares will commence at 8.00 a.m. on 16 July 2020.

Following Admission, the Company's issued share capital will consist of 251,785,967 Ordinary Shares with voting rights.  The Company does not currently hold any Ordinary Shares in treasury.

Accordingly, the above figure of 251,785,967 may be used by shareholders, following Admission, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information, please contact:

GoldStone Resources Limited
Emma Priestley	Tel: [phone]
Strand Hanson Limited
Richard Tulloch / James Bellman	Tel: [phone]
SI Capital Limited
Nick Emerson	Tel: [phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted gold exploration and development company.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000 oz gold resource at an average grade of 1.77 g/t.  The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokeri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,500 oz gold at 2.5 g/t recovered.  It is the Company's intention to build a portfolio of high-quality gold projects in Ghana, with a particular focus on the highly prospective Ashanti Gold Belt.

 

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