What Goldstone Resources does

Goldstone Resources Limited is an AIM-listed gold producer and exploration company (LON:GRL) headquartered in St. Helier, Jersey, with operational presence in West Africa. The company operates the Homase Mine in Ghana's Ashanti Gold Belt, which produces gold through a heap leach circuit comprising multiple heap leach pads, including Pad 6 — the largest pad recently approved by the Minerals Commission. First gold pour at Homase occurred in January 2022 and Q1 2026 production was 480 troy ounces, with 36,268 tonnes of ore stacked and 19.99 kg of gold in process. The company also holds the Akrokeri Ashanti Mine (an exploration-stage former underground mine that historically produced 75,000 oz at approximately 24g/t Au before being abandoned in 1909) and has expanded into Sierra Leone's Wandor Province via a partnership with MinCorp (SL) Limited.

The underlying technology is conventional heap leach gold processing, supplemented by exploration drilling programmes intended to expand JORC-compliant resource estimates. A £2.0 million subscription completed in February 2026 allocated approximately £1.4 million to a 4,000-5,000 metre drilling programme at Homase. Goldstone is financially and technically supported by major shareholders Paracale Gold Ltd and Asian Investment Management Services Ltd (AIMS), with AIMS also acting as creditor under a gold loan extended to December 31, 2026.

The business model is straightforward commodity sales: gold produced at the Homase Mine is sold into the global gold market via direct sales, with revenue directly correlated to ounces produced and prevailing gold prices. The company employs 11-50 staff and has a market capitalisation of approximately £11.93 million as of April 2026. Distribution is global through the gold market; the AIM listing provides equity distribution to public investors on the London Stock Exchange.

Name

Goldstone Resources

Legal name

GoldStone Resources Limited

Website

https://goldstoneresources.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Goldstone Resources Limited is an AIM-listed gold producer and explorer operating the Homase Mine in Ghana's Ashanti Gold Belt via heap leach processing, with exploration assets at Akrokeri and a new partnership in Sierra Leone, selling gold into the global commodity market.

Ownership category

akta.pro rank

Product category

Gold Mining & Production

NAICS

Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Gold mining
• Gold exploration
• Gold production
• Heap leach processing
• Mineral resource development

Headquarters

HQ city

St. Helier

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Gold Production and Sales: Goldstone Resources generates revenue through gold production at its Homase Mine in Ghana. The company extracts gold via heap leach processing and sells the precious metal into the global gold market. Q1 2026 production was 480 troy ounces of gold.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

GoldStone Resources Limited is an AIM-quoted gold producer and explorer operating in Ghana's Ashanti Gold Belt. The company extracts and sells gold from the Homase Mine using heap leach processing technology, and conducts exploration drilling at the Akrokeri Mine and in Sierra Leone's Wandor Province to expand JORC-compliant resource estimates.

Product overview

GoldStone Resources Ltd is an AIM-quoted gold resource development company operating a portfolio of mining projects in West Africa. The core offering consists of gold production at the Homase Mine in Ghana via heap leach processing, alongside exploration activities at the Akrokeri Ashanti Mine (also in Ghana) and a new investment in Sierra Leone's Wandor Province. The company operates as a single-segment mining business focused on gold extraction and resource development along the Ashanti Gold Belt.

Differentiator

Problem solved

Functional benefit

Products and services

• Homase Mine Gold production mine in Ghana's Ashanti Gold Belt, operating a heap leach circuit with Pad 6 as the largest heap leach pad. The mine is in production and developing along the Homase Mineralised Trend. Q1 2026 production was 480 troy ounces of gold; 36,268 tonnes of ore were stacked on the heap leach circuit.
• Akrokeri Ashanti Mine Exploration-stage gold project at a former underground mine in Ghana. The site is currently being drilled along strike from the old underground mine to define a JORC-compliant resource estimate.
• Sierra Leone Exploration Investment Gold exploration project in Sierra Leone's Wandor Province, operated in partnership with MinCorp (SL) Limited. A large excavator has been mobilised for track development and exploration activities.

Quantifiable outcome

• 75,000 oz gold produced at Akrokeri Mine historically at 24g/t Au grade

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• MinCorp (SL) LimitedexploratoryStrategic or Co-development Partner · 17 March 2026Goldstone Resources has a partnership with MinCorp (SL) Limited for its Sierra Leone investment in Wandor Province. A large excavator has been mobilised for track development and exploration activities as part of this partnership.

Scale indicators8 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Cardinal Resources: Junior gold developer previously focused on Ghana's Namdini Gold Project before acquisition. Comparable as a Ghana Ashanti Belt-focused junior at similar developmental stage, illustrating the M&A exit pathway for AIM-quoted juniors.
• Hummingbird Resources: AIM-listed junior gold producer with operations in West Africa (Liberia). Directly comparable as a small-cap gold producer using heap leach processing in a similar West African jurisdiction.
• Asante Gold: Junior gold developer/producer focused on the Ashanti Gold Belt in Ghana. Directly comparable given shared geological setting and Ghana operational focus.
• Newcore Gold: Junior gold exploration and development company focused on the Enchi Gold Project in Ghana's Ashanti Belt. Comparable as a small-cap Ghana-focused gold developer at a similar stage.
• Avesoro Resources: West African gold producer with operations in Liberia and Guinea. Comparable as a small-mid cap AIM-listed gold producer focused on West African heap leach operations.

Broad incumbents

• Perseus Mining: Mid-tier gold producer operating in Ghana (Edikan) and Côte d'Ivoire. Comparable as a Ghana-based gold producer, though at materially larger scale and with multiple operating mines.
• AngloGold Ashanti: Major gold producer operating the neighbouring Obuasi Gold Mine on the Ashanti Belt. Relevant as the geological incumbent whose former operations and 70M oz resource define the regional prospectivity.
• Endeavour Mining: Senior West African gold producer with multiple operating mines including in Ghana. Comparable as a Ghana-focused gold producer, though at significantly larger scale.
• Resolute Mining: Mid-tier gold producer with historical and current operations in West Africa (Ghana, Mali). Comparable as a regional West Africa-focused gold producer with similar jurisdictional exposure.
• B2Gold: Intermediate gold producer with diversified West African operations including Mali. Comparable as a gold producer with active West African mine portfolio, though at much larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/GoldstoneRes
• LinkedInlinkedin.com/company/goldstone-resources

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goldstone Resources