Bill Trew has stepped down as chairperson of Aim-listed Goldstone Resources, effective April 1.
Further, the company, which owns gold exploration assets in Ghana, continues to advance its capital-raising plans to provide additional funds to support its operational development, for working capital and to settle various balances owing to the company's outstanding creditors in order to facilitate publication of the 2022 accounts and interim results on a going concern basis.
“The board believes it is making positive progress towards, inter alia, completing a fundraise and agreeing an extension to the gold loan and expects to be able to provide a further update during the next two weeks,” Goldstone says.
It adds that any equity funding arrangements are expected to be conditional on shareholder approval at a general meeting of the company and that there can be no guarantee such additional funding arrangements can be concluded.
In the event that Goldstone is unable to procure sufficient additional funding to fund its ongoing operations, partially settle balances owing to the group's overdue creditors, and reach suitable repayment agreements with such creditors, the company may be unable to continue as a going concern and trading in the company's ordinary shares on the Aim may be cancelled, it warns.