en.Wedoany.com Reported - Gold mining company GoldStone Resources has agreed to extend the standstill period of its gold loan agreement with Asian Investment Management Services (AIMS). Under the revised agreement, the loan maturity date has been extended to June 30, 2027, and interest payments have been temporarily deferred.

The company initially entered into a standstill agreement on December 29, 2023, concerning the existing gold loan arrangement reached between the two parties on June 19, 2020. According to the latest amended terms, the loan maturity date has been extended from December 31 of this year to June 30, 2027, while the interest freeze period on the loan has been extended from June 30 to September 30 of this year.

CEO Emma Priestley stated that AIMS's continued support provides additional financial flexibility for the company during a critical phase of development. The company's current focus is on advancing the development of the Homase mine, expanding and upgrading the Joint Ore Reserves Committee (JORC) mineral resources through an extensive drilling program, and continuing to optimize operations amid a strong gold price environment. Combined with ongoing financing plans, these measures aim to implement the next phase of the growth strategy and create long-term value for shareholders.

GoldStone Resources focuses on developing the Akrokeri-Homase project located in southwestern Ghana.