Stratex International plc (LON:STI) has maintained its 33.45% stake in Goldstone Resources Limited (LON:GRL) by taking part in a £1mln funding for the Africa-focused gold explorer.
A combination of direct funding and settlement of a US$250,000 drawdown by Goldstone paid for Stratex’s participation. Stratex also received 5.75mln warrants.
The money will primarily be used to advance Goldstone's principal project, the 602,000 oz Homase-Akrokerri gold project in Ghana, through the completion of up to 2,000 metres of RC (Reverse Circulation) drilling.
Stratex’s chairman Christopher Hall also announced he is to step down from his role as chairman of Goldstone.