Goldstone Resources (GRL) Investor presentation summary

Asset overview and operations

• Homase Mine is a fully operating, shallow open pit, heap leach gold mine with a JORC 2012 compliant resource of 602,000 oz, producing approximately 10 kilos of gold per month from a single shift, with plans to increase output to 450–550 oz per month by adding a second dry plant.

• The mine features a 50–60m thick oxide mineralized zone above a non-refractory fresh ore, with historical recoveries of 76–93% and potential for further expansion through infill drilling and exploration of parallel zones.

• Akrokeri, a high-grade underground target, produced 75,000 oz at 24g/t Au historically and recent drilling has confirmed high-grade quartz veins, indicating significant exploration upside.

• The company holds strategic permits along the Ashanti Gold Belt, neighboring major gold producers and controlling a key section of the belt with potential to expand resources beyond 2 million oz.

• Additional assets include a 50% interest in Kanema Small Scale Lease in Sierra Leone, with initial production and plans for staged expansion.

Financial performance and structure

• Gold production for 2024 was 2,155.69 oz, down from 5,155.97 oz in 2022, with an average AISC of $2,500/oz in 2024.

• The group reported a gross profit of £1,261,180 and an operating loss of £1,298,189 for the year ending December 2024.

• Major shareholders include Asian Investment Management Services Ltd (29.9%), George Robinson (13.2%), and Paracale Gold Ltd (9.5%).

• Outstanding gold loan principal is 1,871.31 troy ounces at 14% interest, with interest frozen until June 2026.

• The company is listed on AIM (LSE) and operates through subsidiaries in Ghana and Sierra Leone.

ESG and operational strengths

• Achieved two years of successful operations with strong stakeholder engagement and a majority local workforce.

• Health and safety initiatives include 744 hours of training and an 8.1% annual improvement in TRIFR.

• Community support includes local procurement, clean water for 800 people, education for 400 children, and infrastructure improvements.

• Environmental stewardship is demonstrated by a minimal footprint, no tailings dam, remediation of illegal mining areas, and 25% materials recycled.

• Nursery for indigenous plants supports site remediation and biodiversity.