Business
Final Results - Correction
Final Results - Correction.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n RNS Number : 9022Z Goldstone Resources Ltd 25 July 2008 \n \nGOLDSTONE RESOURCES LIMITED\n('GoldStone' or the 'Company')\n\nCORRECTION TO FINAL RESULTS\n\nGoldStone Resources Limited advises that the following replaces the 'Final Results' announcement released today at 7.00 a.m. under RNS 8381Z. The figure for accumulated deficit on the balance sheet for 28 February 2008 was incorrectly stated as US$(14,385,007) due to a typographical error and should have read US$(14,425,007). There are no other changes to the final results. The full amended text appears below.\n\nFINAL RESUILTS\n\nChief Executive's Report\nI am setting out below a review of GoldStone's activities during the year ended 28 February 2008 which incorporates an update on the current status of the Company's projects.\n\nBAUXITE\nDetailed sampling was undertaken during the first quarter of 2007 on the Company's bauxite interests in Guyana, South America. GoldStone has since received all the results from this completed programme. During July 2007 BHP Billiton elected not to exercise its option over the bauxite interests and subsequently made available to the Company all information in its possession relating to the exploration programme, as well as a summarising geological report. GoldStone has, after a thorough review of all the BHP Billiton information, exercised its right to apply for eleven prospecting licences within the area of the reconnaissance permission. \nThe Company is in continuing discussions with participants in the bauxite industry with the objective of commercialising these interests. \n\nSWARTDORING DIAMOND PROJECT\nIn January 2008 the Company appointed Snowden Mining Industry Consultants (Pty) Ltd ('Snowden') to oversee its planned exploration programme for the Swartdoring Diamond Project, with the objective of generating a Snowden-endorsed bankable feasibility study on the project.\nSnowden recommended that the planned programme be redesigned so that the exploration be undertaken initially on only part of the Inferred Resource in order to maximise the value of the drilling and sampling programme while minimising risk. Such a programme would have been designed to provide an Indi...