GoldStone Resources (LSE:GRL) said it maintained production momentum at the Homase mine in January, pouring a combined total of around 12 kilograms of gold. The company continues to mine near-surface oxide material at Homase Pit 3 and is progressing construction of leach infrastructure at Pad 6, actions intended to sustain near-term output while preparations advance for drilling at Pits 5 and 6 to support longer-term mine planning along the Homase trend.
Alongside operational activity, management has initiated a review of its corporate social responsibility programme, with the aim of better aligning community priorities with the sequencing of mining operations. The review suggests a focus on balancing production growth with stakeholder expectations in communities surrounding the Homase development.
Despite strong revenue growth, GoldStone’s overall outlook remains constrained by weaker fundamentals, including ongoing losses, a declining gross margin, negative free cash flow and increased leverage. These pressures are partially offset by supportive technical signals, with the share price in a clear uptrend and momentum indicators remaining positive. Valuation continues to be challenged, however, due to the company’s loss-making status and the absence of a dividend yield.
More about GoldStone Resources
GoldStone Resources is an AIM-listed gold mining and development company focused on Ghana. Its core asset is the Akrokeri-Homase project, located along the Birimian Gold Belt, where the group is advancing assets from exploration through to production to deliver doré gold output.
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