Business
Operational Update and Loan Payment Extension
Operational Update and Loan Payment Extension.
About this update from Goldstone Resources Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 9491Q\n Goldstone Resources Ltd\n 01 November 2021\n \n \n \n \n 1 November 2021\n \n \n \n \n \n GOLDSTONE RESOURCES LIMITED\n \n \n (\"GoldStone\" or the \"Company\")\n \n \n \n \n \n Operational and Construction Update\n \n \n Extension of Gold Loan Interest Payment\n \n \n \n \n \n GoldStone Resources Limited (AIM: GRL), the AIM quoted gold exploration and development company focused on bringing the Homase Mine in the Ashanti Region of Ghana into production, is pleased to announce an operational update and an agreement reached with Asian Investments Management Services Limited (\"AIMS\").\n \n \n Operational Update\n \n \n The Company is pleased to announce that it has now successfully completed the cold commissioning and has commenced the final phase of hot commissioning of its newly constructed 1 tonne elution plant, together with the electrowinning plant and smelting plant at the Homase Mine (together, the \"New Plant\"). This enables Goldstone to strip, elute, electrowin and thereafter smelt doré bars without reliance on third parties.\n \n \n \n \n \n As a result of the successful commissioning of the New Plant, the Company will be resuming normal mining operations shortly and will update the market on first gold production and the Company's updated production schedule over the coming weeks.\n \n \n \n \n \n Gold Loan\n \n \n The Company is also pleased to announce, further to its announcement of 20 September 2021, that AIMS, encouraged by the Company's operational progress and with the confirmation that commissioning in underway, has confirmed that the Company will not be deemed in default under the US$3 million secured gold loan in relation to the payment due at the end of October 2021. Interest will continue to accrue at the default rate of 17%, and AIMS has agreed that the Company is able to settle both the October and November 2021 instalments by the end of November 2021.\n \n \n \n \n \n \n Emma Priestley, CEO of GoldStone, commented\n \n : \n \n \n \n \"Despite the many setbacks encountered this year, the construction of the elution plant and smelt house began on the 17 September 2021. To construct \n \n \n and commission an elution plant of this size and complexity within six weeks is a great achievement for the Homase Mine. This not only s...