GoldStone Resources (AIM:GRL) shares soared on Monday, after it secured a £3.51 million strategic investment from Hong Kong-listed Persistence Gold Group Ltd, giving the AIM-quoted Ghana-focused gold company fresh capital to expand drilling at its Homase Mine.
Persistence will subscribe for 351.6 million new shares at 1p each, leaving it with a 20.96% stake in GoldStone’s enlarged share capital once the shares are admitted to AIM.
GoldStone said the net proceeds will be used for an expanded drilling programme at Homase aimed at increasing and enhancing the existing JORC mineral resource, as well as wider exploration, mine planning, technical studies, working capital and general corporate and operational expenditure.
The investment also brings boardroom representation. Persistence will have the right to nominate one director while it holds at least 15% of GoldStone, with Jeff Malaihollo, an executive director of Persistence and experienced mining company director, expected to join as a non-executive director after admission.
Chief executive Emma Priestley said the investment provides “significant financial flexibility to accelerate the next phase of development at Homase”. Admission of the new shares is expected at 8.00am on or around 13 July 2026.
In London, Goldstone shares were up 36%, changing hands at 0.75p
