JOHANNESBURG (miningweekly.com) – Aim-listed Goldstone Resources is raising £1.5-million to advance the development of its Homase-Akrokerri project, in Ghana.
The funds will be raised by way of a subscription for 100-million new ordinary shares at 1.5p a share with new and existing shareholders. The subscription shares will represent about 40.17% of the company's enlarged issued share capital.
Private contract miner BCM Investment (BCM) is subscribing for 50-million of the subscription shares, representing about 20.08% of the company's issued share capital.
“We are delighted to welcome BCM as a shareholder and partner to Goldstone and with the continued support from existing shareholders in raising £1.5-million in an uncertain market. We look forward to applying these funds to furthering the company's objectives and accelerating growth at the Homase-Akrokerri project,” says Goldstone chairperson Neil Gardyne.
The Homase-Akrokerri project hosts an existing 602 000 oz Joint Ore Reserves Committee-compliant gold resource.
Goldstone plans to build a portfolio of high-quality gold projects in Ghana.