StockMarketWire.com - Gold exploration and development company GoldStone Resources said its plans to bring the Homase mine within its Akrokeri-Homase gold project in Ghana into production suffered a setback amid struggles to secure government approval to use a rented gold elution facility.

The company said it would now accelerate plans to complete its own elution facility on site in the 'shortest possible timeframe.'

'[T]he company had been seeking to elute the gold from the loaded carbon at a nearby rented facility, however approval from the Minerals Commission of Ghana for use of this facility has not yet been forthcoming,' Goldstone said.

'Whilst we are obviously disappointed that we have not been able to commence gold production, we are pleased with the continued progress on the Homase Mine and the rate at which this is now operating following some initial operational hurdles,' it added.

The company has mined 133,000 tonnes of ore and 385,700 tonnes of waste and stacked 87,300 tonnes of ore on the Heap Leach pads.

'Whilst this is behind our initial forecast schedule, we are now stacking the balance of the stockpile at a consistent 120 tonnes per hour. We have temporarily paused further mining whilst the existing stockpile is being depleted, and expect to recommence shortly,' it added.




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