Business
Final Results and Notice of AGM
Final Results and Notice of AGM.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \nRNS Number : 2003F Goldstone Resources Ltd 16 May 2017 \n\nGOLDSTONE RESOURCES LIMITED\n(\"GoldStone\" or the \"Company\")\n \nFinal Results for the year ended 31 December 2016\nand Notice of Annual General Meeting\n \nGoldStone (AIM: GRL), the AIM quoted company focused on gold in West and Central Africa, is pleased to announce its final results for the year ended 31 December 2016.\n \nThe statements and results below have been extracted from the Company's audited financial statements which will shortly be available to view and download in full at the Company's web site www.goldstoneresources.com. Copies of the Annual Report, together with the notice of the Company's annual general meeting, will be posted to shareholders shortly.\n \nThe Company's annual general meeting will be held at the offices of Faegre Baker Daniels LLP, 7 Pilgrim Street, London EC4V 6LB at 10:30 a.m. on 2 June 2017.\n \nChairman's report\n \nI am pleased to report to shareholders following my appointment as Chairman of GoldStone Resources Limited (\"GoldStone\" or the \"Company\") in July 2016.\n \n2016 saw a number of changes to the Company, following the £1.0 million (US$1.4 million) equity financing in July 2016, we were able to undertake further exploration activities. The results from the diamond, reverse circulation and auguring drill programmes that were carried out at the Homase-Akrokerri project in Ghana, provided encouraging results and have highlighted the areas that we need to focus on in order to firm up and add to the existing resource, in order to advance the project towards a scoping study and ultimately, to bring the project back into production.\n \nWhilst our core focus is centred on the Homase-Akrokerri project, we continue to seek ways of realising the value of our Senegal and Gabon assets. It is too early to claim any success in this regard, nevertheless we are working on these interesting prospects.\n \nTo align our accounting policy with international peers, GoldStone has elected to capitalise its exploration costs, where previously it had been expensing them through profit or loss. This will apply only to the work undertaken on the Homase-Akrokerri project. We believe this will provide a better reflection of the results of the Company's activities as w...