Advanced Analysis Free Trading Signals Real Time Alerts

Goldstone Resources Granted Environmental Permit, Shares Rally

Updated: 22 Jul 2021

Goldstone Resources Limited (LON: GRL) shares trading higher on Friday after the company announced that the Ghanaian Environmental Protection Agency has granted the environmental permit for the company’s Homase South Pit within the AKHM project.

The environmental permit is vital and required to allow the company to proceed towards the construction of the project, an achievement in the development of the AKHM project which will be the company's first mine in its highly prospective 83.24km2 total licensed area.

Goldstone said it now expects mining and construction operations at the project to commence imminently with an estimated timeline for the first gold pour to begin within two months.


The company will now make an application to the Ghanaian Environmental Protection Agency for the permit to be expanded to cover the extended mining lease in respect of AKHM, including the Homase North and Homase Central pits.

“We have been eagerly awaiting receipt of this permit so that we can start construction and mining. The permitting process has taken approximately six months longer than what we initially anticipated, but we are delighted to now be in a position to commence the next stage of operations at the AKHM Project,” said Emma Priestley Goldstone CEO.

Goldstone’s stock price is trading at 12.2p per share, +17%, after closing Thursday's session at 10.4p.

Should you invest in Goldstone Resources shares? Goldstone Resources shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Goldstone Resources shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .