GoldStone Resources Ltd (GRL)

Sector:

Mining

Index:

FTSE AIM All-Share

6.75p
   
  • Change Today:
      0.65p
  • 52 Week High: 14.25
  • 52 Week Low: 6.00
  • Currency: UK Pounds
  • Shares Issued: 473.03m
  • Volume: 1,710,418
  • Market Cap: £31.93m
  • RiskGrade: 381

Goldstone raising £1.5m though subscription

By Josh White

Date: Wednesday 27 Sep 2017

LONDON (ShareCast) - (ShareCast News) - Goldstone Resources announced on Wednesday that it is raising £1.5m gross by way of a subscription for 100 million new ordinary shares of 1p each in the capital of the company, at a price of 1.5p per subscription share, with new and existing shareholders.
The AIM-traded firm said the subscription shares would represent approximately 40.17% of its enlarged issued share capital..

It said the subscription price represented a discount of approximately 31.8% to the closing mid-market price of the company's ordinary shares on 26 September, and a discount of approximately 21.2% to the company's average closing mid market price for the 30 days prior.

BCM Investment was subscribing for 50 million subscription shares as part of the subscription, representing approximately 20.08% of the Company's issued share capital on admission.

"BCM and its subsidiaries [have] provided the company with mining services in relation to the company's current drilling programmes," Goldstone's board said in its statement.

"As part of the relationship which has developed between the company and BCM Group as a result of this work - and the fact that the BCM Group is supportive of the company's strategy - discussions that have been ongoing over recent weeks have culminated in the BCM Group supporting the company through its participation in the subscription."

The board said the proceeds of the subscription would be applied to the company's operations, and the general advancement of the company's corporate objectives.

"We are delighted to welcome BCM as a shareholder and partner to Goldstone and with the continued support from existing shareholders in raising £1.5m in an uncertain market," said Goldstone non-executive chairman Neil Gardyne.

"We look forward to applying these funds to furthering the company's objectives and accelerating growth with Homase/Akrokerri Project in Ghana."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GRL Market Data

Currency UK Pounds
Share Price 6.75p
Change Today 0.65p
% Change 10.66 %
52 Week High 14.25
52 Week Low 6.00
Volume 1,710,418
Shares Issued 473.03m
Market Cap £31.93m
RiskGrade 381

GRL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.18% below the market average41.18% below the market average41.18% below the market average41.18% below the market average41.18% below the market average
47.54% below the sector average47.54% below the sector average47.54% below the sector average47.54% below the sector average47.54% below the sector average
Price Trend
74.64% below the market average74.64% below the market average74.64% below the market average74.64% below the market average74.64% below the market average
61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average61.11% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GRL Dividends

No dividends found

Trades for 01-Jul-2022

Time Volume / Share Price
16:20 3,941 @ 6.80p
15:02 1,238 @ 6.82p
14:23 7,693 @ 6.50p
13:22 150,000 @ 6.70p
13:21 5,524 @ 6.50p

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