23rd Sep 2013 11:23
LONDON (Alliance News) - Goldstone Resources Ltd Monday said it had raised GBP500,000 before expenses through a share issue, buying it time while it tries to do a deal to monetise its Homase/Akrokerri gold project which in turn will fund further projects.
" We will continue with our austerity measures regardless of this placing until an appropriate time," Chief Executive Jurie Wessels said in a statement.
The AIM-quoted exploration company focused on gold in West Africa has deferred its director remuneration by half in an effort to conserve funds while it tries to arrange new financing.
Goldstone shares were down 8.6% at 1.6 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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