Goldstone Resources (GRL) investor relations material

Executive summary

• Produced 46.43 kg of doré (1,214.4 troy ounces gold sold) in H1 2026, below the targeted production due to heavy rainfall and lower ore grades.

• Completed construction of Pad 6, increasing heap leach capacity and ore stacking rates.

• Strengthened balance sheet with a £2.0 million equity raise in February and a £3.51 million strategic investment post-period end.

• Entered Sierra Leone via a 50% stake in MinCorp, diversifying jurisdictional exposure.

• Enhanced management and Board with key appointments, including a new CFO and Non-Executive Directors.

Financial highlights

• Revenue for H1 2026 was $4.86 million, down from $6.71 million in H1 2025, reflecting lower gold production.

• Gross profit was $2.49 million (H1 2025: $3.89 million).

• Profit before and after tax was $0.25 million, a turnaround from a $3.76 million loss in H1 2025, aided by a $1.23 million fair value gain on derivative liabilities.

• Cash and cash equivalents at 30 June 2026 were $0.73 million, up from $0.43 million at year-end 2025.

• Net current liabilities reduced to $6.9 million from $11.3 million at 31 December 2025.

Outlook and guidance

• Production target of 4,000 ounces for FY2026 under review due to H1 underperformance; updated guidance to follow.

• Focus remains on optimizing Homase production, expanding resource base, and leveraging new capital for exploration and development.