PERSISTENCE RES(02489.HK): Acquires 20.96% Equity Interest in GoldStone at a Total Consideration of Approximately £3.52 Million

NewTimeSpace News: Persistence Resources Group Ltd (02489.HK) issued a voluntary announcement dated 6 July 2026. On 5 July, the Company entered into an investment agreement with GoldStone Resources Limited, a company listed on London Stock Exchange’s Alternative Investment Market (AIM). The Company will purchase 351,594,899 ordinary shares at £0.01 apiece for a total cash consideration of around £3.516 million, accounting for 20.96% of the target’s total issued share capital.

As long as the Company holds 15% or more beneficial interest in the target, it shall be entitled to nominate one representative to join GoldStone’s board of directors.

The target focuses on the Ashanti Gold Belt in Ghana, West Africa, with core assets comprising the producing open-pit Homase Gold Mine and the underground Akrokeri Gold Mine. The Homase Gold Mine hosts JORC Code-compliant mineral resources totalling roughly 10.6 million tonnes at an average gold grade of 1.77 grams per tonne, equivalent to approximately 600,000 troy ounces of gold.

The Board believes the acquisition will expand the Group’s mineral resource reserves, diversify its business portfolio and enable access to African mineral exploration opportunities. The capital invested by the Group is expected to be deployed to further advance the development of the Homase Gold Mine.

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