12th Feb 2025 16:06
(Alliance News) - Goldstone Resources Ltd on Wednesday said it has achieved a record gold pour of 16.25 kilograms, or around 522 ounces of gold, at its Homase mine.
Shares in the Ghana-focused gold explorer were down 8.6% at 1.07 pence each in London on Wednesday afternoon.
Goldstone Resources also said that monthly gold production at its Homase mine and heap leach operation in south-western Ghana has now more than doubled since November.
2024's average monthly gold pour was 225 troy ounces, Goldstone added, which reflected "significant and ongoing operational improvements".
"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 dore per month and believe the progress we've made in recent weeks demonstrates our ability to meet this goal."
Goldstone said it has ramped-up operations at the mine to an average of 48,000 tonnes of agglomerated stacked ore per month, though lower-than-expected ore grades in the final stages of pit 2 operations are currently "impacting" final gold production volumes.
Operations will "shortly" be re-entering the higher grade pit 1, Goldstone explained, which was placed on hold in 2023 as part of a stream relocation.
Pit 1 mining operations are expected to restart within the next month, with anticipated grades of 1 to 1.2 grams per tonne.
This, alongside "increased stacking and the continued improvement in leach kinetic rates," said Goldstone, "is expected to facilitate the achievement of our production target over the coming months".
By Emily Parsons, Alliance News reporter
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