GoldStone completes second gold pour
Aim-listed GoldStone Resources has completed its second gold pour at the Homase mine, in the Ashanti Gold Belt, in Ghana.
The first pour on November 30, 2021, yielded about 14.46 kg of gold doré and the second pour yielded 28.50 kg of gold doré.
These first two pours were exported to the company’s off-taker in Switzerland, resulting in refined gold bullion of 40.67 kg and 1.71 kg of refined silver bullion.
Moreover, the company notes that the gold loan repayments to Asia Investment Management Services (AIMS) for October, November and December 2021 have now been satisfied.
It has been further agreed with AIMS that, to enable to company to efficiently manage shipments, it shall not be deemed an event of default if the agreed monthly payments are not made at the end of each month.
With effect from January 1, interest on the outstanding balance of the gold loan shall accrue at a rate of 14% a year and GoldStone shall be required to repay the gold loan and accrued interest in full, whether in one lump sum or by way of multiple payments from time to time, on or before September 30, and failing to do so will be an event of default.