Variation to Subscription

Goldstone Resources Ltd

13 July 2026

 

13 July 2026

GOLDSTONE RESOURCES LIMITED

("Goldstone" or the "Company")

Variation to Subscription

GoldStone Resources Limited (AIM: GRL), the AIM-quoted gold producer and exploration company focused on Ghana, refers to its announcement of 6 July 2026 regarding the strategic subscription by Persistence Gold Group Limited ("Persistence"). 

The Company announces that it has entered into a deed of variation with Persistence amending certain administrative provisions of the Investment Agreement.

The principal commercial terms of the Subscription remain unchanged, including:

·      the subscription by Persistence for 351,594,899 new ordinary shares at 1.0 pence per share;

·      gross proceeds of £3,515,949;

·      Persistence's strategic investment in the Company; and

·      Persistence's right to nominate one Non-Executive Director to the Board, subject to the terms previously announced. 

The amendments provide for:

·      confirmation of the final subscription amount and for a resulting shareholding of 20.96%;

·      flexibility for the subscription monies to be paid into the Company's nominated bank account as notified to Persistence; and

·      an extension of the Long Stop Date from 20 July 2026 to 23 July 2026. 

The amendments are administrative in nature and have been agreed to facilitate the orderly completion of the Subscription. Save as set out above, all other terms of the Investment Agreement remain unchanged and continue in full force and effect. 

Application has been made for the 351,594,899 Subscription Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective at 8.00 a.m. on or around 23 July 2026. The Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares.  

For further information, please contact:

GoldStone Resources Limited
Emma Priestley	Tel: [phone]
Strand Hanson Limited
James Dance / James Bellman	Tel: [phone]
St Brides Partners Ltd Susie Geliher / Ana Ribeiro	Tel: [phone] [e-mail]

About GoldStone Resources Limited

GoldStone Resources Limited (AIM: GRL) is an AIM quoted mining and development company with projects in Ghana that range from grassroots exploration to production.

The Company is focused on developing the Akrokeri-Homase project in south-western Ghana, which hosts a JORC Code compliant 602,000oz gold resource at an average grade of 1.77 g/t.  The existing resource is confined to a 4km zone of the Homase Trend, including Homase North, Homase Pit and Homase South.

The project hosts two former mines, the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24 g/t recovered grade in the early 1900s, and the Homase Pit which AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at 2.5 g/t recovered.  Production is currently focussed on the Homase Mine however it is the Company's intention to build a portfolio of high-quality gold projects, with a particular focus on the highly prospective Birimian Gold Belt.

GoldStone has acquired a 50% interest in a gold project in Sierra Leone, located adjacent to the Boamuhun Gold Mine, a known gold deposit estimated to contain approximately 5.8 million ounces, with early work indicating grades of approximately 12 g/t.

 

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