Goldstone confirms productivity uptick at Homase mine
Ahead of publishing its financial results for the year ended December 31 later this month, Aim-listed Goldstone Resources has confirmed that the Homase mine, in Ghana, maintains an average 48 000 t of agglomerated stacked ore a month and is improving feed grades with the expansion of Pit 1.
The mine has, in the year-to-date, produced 72.9 kg of gold doré, which is equivalent to 2 343 oz, averaging 468 oz of gold doré a month.
The company has also managed to reduce costs at the mine, which should result in positive operational cash flow.
Goldstone is undertaking pit definition drilling in Pits 5 and 6 at the mine to further unlock resources.
CEO Emma Priestley says she is encouraged by the turnaround in operational performance at Homase and she remains optimistic about continuing this upward trajectory throughout the remainder of the year.
“The 2024 results will provide further detail about the work we conducted last year and how this has supported a dramatic uptick in productivity at the mine,” Priestley adds.
Meanwhile, Goldstone has undertaken its first sales of gold to the Bank of Ghana’s gold trading authority, the Ghana Gold Board, in line with a sales agreement and compliance with Ghana’s Gold Board Act.
The Act requires that 20% of total production is sold to the board at a 1% discount to the London Bullion Market Association quoted spot price on the day of sale.
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