`1 August 2024
GOLDSTONE RESOURCES
LIMITED
("GoldStone" or the
"Company")
Issue of
Options
GoldStone Resources Limited
(AIM:GRL) announces that the Board has
approved the issuance of share options ("Options") to directors and a senior
manager of the Company.
The award of the Options represents
the first issuance of share options by the Company since September
2011 and the Board believes that it is
essential for the Company's directors and senior managers to be
suitably incentivised to drive the business forwards and to further
align their interests with those of the Company's
shareholders.
A total of 56,000,000 Options have
been granted, of which: 50% will vest immediately and are
exercisable at a price of £0.02 per ordinary share ("Tranche 1"); 25% will vest when
production is greater than 650 oz per month for three consecutive
months and are exercisable at £0.025 per ordinary share
("Tranche 2"); and 25% will
vest when all-in sustaining production costs at the Homase Mine are
reduced to US$1,500 per month for three consecutive months and are
exercisable at a price of £0.03 per ordinary share ("Tranche 3").
The allocation of the Options to be
issued is as presented in the table below:
|
|
Tranche 1
|
Tranche 2
|
Tranche 3
|
Total
|
|
Angela List
|
3,750,000
|
1,875,000
|
1,875,000
|
7,500,000
|
|
Emma Priestley
|
8,500,000
|
4,250,000
|
4,250,000
|
17,000,000
|
|
Richard Wilkins
|
3,750,000
|
1,875,000
|
1,875,000
|
7,500,000
|
|
Orrie Fenn
|
4,500,000
|
2,250,000
|
2,250,000
|
9,000,000
|
|
Campbell Smyth
|
3,750,000
|
1,875,000
|
1,875,000
|
7,500,000
|
|
Senior Manager
|
3,750,000
|
1,875,000
|
1,875,000
|
7,500,000
|
|
Total
|
28,000,000
|
14,000,000
|
14,000,000
|
56,000,000
|
Following the grant of the above
Options, the total number of options granted represents
approximately 8.53% of the Company's existing issued share capital,
and there are no other options issued or outstanding.
For
further information, please contact:
|
GoldStone Resources Limited
|
|
|
Emma Priestley
|
Tel: +44 (0)1534 487 757
|
|
Strand Hanson Limited
|
|
|
James Dance / James
Bellman
|
Tel: +44 (0)20 7409 3494
|
|
S.
P. Angel Corporate Finance LLP
|
|
|
Ewan Leggat / Charlie
Bouverat
|
Tel: +44 (0)20 3470
0501
|
|
St
Brides Partners Ltd
Susie Geliher
|
Tel: +44 (0)20 7236 1177
|
|
|
|
About GoldStone Resources Limited
GoldStone Resources Limited (AIM:
GRL) is an AIM quoted mining and development company with projects
in Ghana that range from grassroots exploration to
production.
The Company is focused on developing
the Akrokeri-Homase project in south-western Ghana, which hosts a
JORC Code compliant 602,000oz gold resource at an average grade of
1.77 g/t. The existing resource is confined to a 4km zone of the
Homase Trend, including Homase North, Homase Pit and Homase
South.
The project hosts two former mines,
the Akrokerri Ashanti Mine Ltd, which produced 75,000 oz gold at 24
g/t recovered grade in the early 1900s, and the Homase Pit which
AngloGold Ashanti developed in 2002/03 producing 52,000 oz gold at
2.5 g/t recovered. Production is currently focussed on the Homase
Mine however it is the Company's intention to build a portfolio of
high-quality gold projects in Ghana, with a particular focus on the
highly prospective Ashanti Gold Belt.
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
|
a.
|
Name
|
a) Angela List
b) Emma Priestley
c) Richard Wilkins
d) Orrie Fenn
e) Campbell Smyth
|
|
|
e
|
Reason for notification
|
|
|
a.
|
Position/Status
|
a) Non-Executive Director
(Chair)
b) Director (CEO)
c) Non-executive
Director
d) Non-executive
Director
e) Non-executive Director
|
|
|
b.
|
Initial notification
/Amendment
|
Initial Notification
|
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
|
a.
|
Name
|
Goldstone Resources
Limited
|
|
|
b.
|
LEI
|
213800B7ATYRPQUTS551
|
|
|
4
|
Details of the transaction(s): section to be repeated for (e)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
|
a.
|
Description of the financial
instrument, type of instrument
Identification Code
|
Options over Ordinary shares of 0.3p
each
JE00BRJ8YF63
|
|
|
b.
|
Nature of the transaction
|
Grant of Share Options
|
|
|
c.
|
Price(s) and volume(s)
|
Total*
a) 7,500,000
b) 17,000,000
c) 7,500,000
d) 9,000,000
e) 7,500,000
*50% will vest immediately and are
exercisable at a price of £0.02 per ordinary share; 25% will vest
when production is greater than 650 oz per month for three
consecutive months and are exercisable at £0.025 per ordinary
share; and 25% will vest when all-in sustaining production costs at
the Homase Mine are reduced to US$1,500 per month for three
consecutive months and are exercisable at a price of £0.03 per
ordinary share
|
|
|
d.
|
Aggregated information
- Volume*
- Price
|
48,500,000
As above
|
|
|
e.
|
Date of the transaction
|
31 July 2024
|
|
|
f.
|
Place of the transaction
|
Off-exchange
|
|