GoldStone is a global mineral exploration company based in South Africa with exploration skills that primarily focus on gold and associated elements, which include silver, copper and uranium.

The Company originally focused on palaeoplacer gold exploration which it commenced in South America in 1998.  GoldStone was admitted to AIM in March 2004 in order to raise additional funds to continue the exploration of two areas in Guyana with the objective of finding economically mineable gold palaeoplacers.  After a long and extensive exploration programme, a decision was taken in August 2006 to cease all gold exploration in Guyana.

The Company is now focussed on exploring primarily for gold and associated elements on a global basis and where possible taking the appropriate projects to BFS. Once a particular project has reached BFS, GoldStone will consider preparing the project for commercialization by means of either mining the deposit, entering into a joint venture in respect of the project or selling the project.

GoldStone was admitted to AIM in March 2004 with the objective of continuing the exploration of two areas in Guyana in order to find economically mineable gold palaeoplacers. Having undertaken an extensive exploration and evaluation programme, the Company successfully discovered 21 palaeoplacers exhibiting similar geological characteristics to the Witwatersrand. While a number of the palaeoplacers were found to contain anomalous quantities of gold, the low tenor, sporadic occurrence and lack of lateral continuity of the intersections made during the drilling programme led to the Company concluding that the likelihood of finding economic deposits was remote. A decision was taken in August 2006 to cease all gold exploration in Guyana.

A lateritic bauxite deposit is also located within the Guyana permit areas held by the Company. During 2008 several parties expressed an interest in this bauxite deposit and have commenced project reviews.  As a result of the Board’s recent decision to refocus GoldStone’s exploration activity  on gold, the company would consider finding partners for its bauxite project.

GoldStone currently has cash resources of approximately US$1,2 million.

Updated: 25 May 2009