In a significant move on the global mining stage, GoldStone Resources Ltd., a gold producer focused in Ghana, has announced a new partnership that promises exciting developments. The company has agreed to issue over 351 million new shares to Persistence Gold Group Ltd., a well-known mining investment company based in Hong Kong. This deal, completed recently, brings a fresh injection of £3.51 million into GoldStone.
The investment is more than just money. It marks the start of a strategic relationship with an experienced international player eager to support GoldStone’s growth. Once the shares are officially issued, Persistence will hold nearly 21% of the company’s ordinary shares, a substantial stake that underscores their commitment.
GoldStone plans to use the funds to expand drilling at its Homase Mine, aiming to increase and improve its mineral resources. The money will also boost exploration efforts, support mine planning and technical work, strengthen the company’s finances, and cover general operational costs. The board is optimistic that this expanded drilling could unlock greater long-term value and future opportunities at the Homase Project.
Adding to the partnership, Persistence will gain the right to nominate a director to GoldStone’s board as long as they hold at least 15% of the shares. Jeff Malaihollo, an experienced mining executive and academic, is expected to join as a Non-Executive Director, bringing valuable expertise and insight.
This collaboration marks an exciting chapter for GoldStone Resources, blending new capital, expert guidance, and shared ambition to explore and develop Ghana’s rich gold deposits.
