SpongeCast – Goldstone Resources

Today I caught up with Emma Priestley CEO of Goldstone Resources. This is my first ‘Investor meets Director’ interview! Interestingly gold has hit new highs just today and I expect junior gold miners (especially near-term producers like Goldstone) will remain in focus.

In fact another of my recent holdings I mentioned here Landore Resources had a nice uplift today as Eric Sprott declared a 9.72% holding in the company!

Anyway back to Goldstone, the company put out an operational update last week so I thought it a good time to catch up with Emma and hear a bit more about plans for the remainder of 2020 and it looks like there will be a lot happening.

You can read more detail about the company in my updated research note here

In brief, the update detailed how the company have re-worked the existing DEP (Definitive Economic Plan) for the Phase 1 Homase open pit operation. Given the reduction in Capex and using more current gold prices the Phase 1 project sees an uplift to 382% IRR! You can here more about this in the interview.

A nice surprise also was that the company plan to get the drill bit turning to increase the mineable resource and sink some holes into other areas of Homase that have previously shown some high grades. Plans are afoot for Akrokeri too, a mine that the Ghanian Ministry will be keen to see become operational again.

This should all create some excitement and I really like how things are progressing here hence I have been averaging-up my position in the 6.5-7.5p areas.

I hope you find the interview useful and look out for further SpongeCasts!

Disclaimer

Research materials prepared based upon my own analysis and research. Accuracy cannot be guaranteed and research notes should not be taken as investment advice. Please always do your own research.

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