Goldstone announces record gold pour at Homase Mine

(Sharecast News) - Goldstone Resources announced a record gold pour of 16.253 kilograms, or 522 ounces, on Wednesday, at its Homase Mine in Ghana on 10 February. The AIM-traded firm said monthly gold production had doubled since November, with the company aiming to reach 1,000 ounces of doré per month.

It reported an average monthly gold pour of 225 ounces in 2024, reflecting significant operational improvements, particularly in the fourth quarter.

Mining and heap leach processing had ramped up to 48,000 tonnes of stacked ore per month.

While lower-than-expected grades in Pit 2 did affect production, mining would soon return to Pit 1, where higher grades of one to 1.2 grams per tonne were expected to support Goldstone's production targets.

Expansion efforts were progressing, with work advancing on the second lift of heap leach pads and the extension of Cell 5 nearing completion.

Civil engineering work was also underway for the construction of Cells 6 and 7 to support increased mining and processing capacity throughout 2025.

"We have seen significant recent operational improvement and now have the key building blocks in place to continue this momentum throughout 2025," said chief executive officer Emma Priestley.

"We continue to work towards our target of 1,000 ounces of doré per month and believe the progress we've made in recent weeks demonstrates our ability to meet this goal."

At 1329 GMT, shares in Goldstone Resources were down 8.3% at 1.08p.

Reporting by Josh White for Sharecast.com.