28th Sep 2018 14:57
LONDON (Alliance News) - Goldstone Resources Ltd on Friday said its loss widened in the first half of 2018 due to administrative expenses associated with its Ghanaian Akrokeri-Homase gold project.
Administrative expenses accounted for the entirety of the mining company's USD346,247 pretax loss for the six months to June 30. This compares with a loss of USD233,430 the year before.
The north shaft of Akrokeri-Homase was completed post period end, drilled to a depth of 33 metres. The shaft is aimed at accessing additional old workings at Akrokeri.
"2018 has been very busy for the Goldstone team, as we seek to ensure the company is on track to deliver production at Akrokeri-Homase within the next two years," said Goldstone Chief Executive Emma Priestley.
"The results confirmed by the review and re-logging of the historic diamond core are very encouraging and our soil geochemistry programme has indicated further mineral resource upside potential," Priestley added.
Shares in Goldstone Resources were up 3.0% at 1.39 pence on Friday.
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