By Joe Hoppe
GoldStone Resources Ltd. announced Monday that it has completed cold commissioning of its new one-metric-ton elution plant at the Homase mine in Ghana and has entered into a loan agreement with Asian Investments Management Services Ltd.
The London-listed miner said it has completed cold commissioning and has entered the final phase of hot commissioning of the plant, as well as the smelting and smelting plants. This will allow it to pickle, elute, electro-valve and melt gold bars, semi-pure gold and silver alloys, without calling on third parties.
The company said it will resume normal mining operations shortly and provide an update on the first gold production in the coming weeks.
GoldStone also said that, encouraged by its operational progress and the ongoing commissioning, Asian Investments has confirmed that it will not be in default on the $ 3 million secured gold loan for a payment due in late October. . Interest will continue to accrue at the 17% default rate, and Asian Investments has agreed to let the company settle its October and November investments by the end of November.
Shares at 2:40 p.m. GMT were up 0.72 pence, or 6.6%, to 11.75 pence.
Write to Joe Hoppe at [email protected]