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Goldstone Resources
(LSE:GRL)
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Rating:41Neutral
Price Target:
0.45 p
▼(-17.45% Downside)
Action:Reiterated
Date:09/30/26
The score is primarily held back by weak financial performance (widening losses and ongoing cash burn) and bearish technicals (downtrend across key moving averages with negative MACD). Valuation is difficult to support with a negative P/E and no dividend yield data.
Positive Factors
Revenue Recovery
The strong 2025 top-line recovery indicates improving sales traction after several volatile years. If the rebound is sustained, greater revenue scale could help Goldstone absorb fixed costs, support project advancement, and improve operating leverage over the next several quarters.
Negative Factors
Deepening Losses
Widening net losses despite the revenue rebound show that higher sales have not yet translated into sustainable earnings. Persistently negative EBIT and EBITDA indicate the underlying cost base or other charges continue to overwhelm gross profit, limiting internal funding capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
The strong 2025 top-line recovery indicates improving sales traction after several volatile years. If the rebound is sustained, greater revenue scale could help Goldstone absorb fixed costs, support project advancement, and improve operating leverage over the next several quarters.
Read all positive factors
Goldstone Resources (GRL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£8.81M
Dividend YieldN/A
Average Volume (3M)1.22M
Price to Earnings (P/E)―
Beta (1Y)-0.36
Revenue Growth-0.62%
EPS Growth12.00%
CountryUK
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,677,425,000
10 Day Avg. Volume1,353,778
30 Day Avg. Volume1,217,630
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.64
Price to Sales (P/S)0.65
P/FCF Ratio-3.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)£34.67M
Goldstone Resources Business Overview & Revenue Model
Company Description
Goldstone Resources Limited, operating through its various subsidiaries, specializes in the exploration and development of gold and related minerals across West and Central Africa. Its portfolio includes a 100% ownership stake in the Akrokeri-Homa...
How the Company Makes Money
Goldstone Resources’ primary economic objective is to generate value from gold mineral assets by advancing projects through exploration and development toward production. If the company is producing, it would make money by selling mined gold (and ...
Goldstone Resources Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
24
Negative
| Breakdown | Jun 2026 | Jun 2025 | Dec 2023 | Dec 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 11.40M | 4.95M | 2.20M | 8.90M | 0.00 |
| Gross Profit | 6.89M | 1.22M | 1.26M | 3.16M | -51.84K |
| EBITDA | -5.96M | -1.88M | -1.01M | 109.52K | -722.91K |
| Net Income | -9.69M | -4.15M | -2.69M | -674.41K | -2.25M |
Balance Sheet | |||||
| Total Assets | 28.83M | 24.16M | 22.15M | 21.07M | 23.83M |
| Cash, Cash Equivalents and Short-Term Investments | 435.02K | 95.78K | 121.43K | 113.31K | 336.52K |
| Total Debt | 11.60M | 9.50M | 6.57M | 2.91M | 4.81M |
| Total Liabilities | 17.15M | 13.63M | 12.93M | 8.28M | 7.84M |
| Stockholders Equity | 11.68M | 10.53M | 9.22M | 12.78M | 16.00M |
Cash Flow | |||||
| Free Cash Flow | -2.20M | -2.62M | -2.93M | -972.15K | -6.64M |
| Operating Cash Flow | -1.16M | 49.48K | -1.75M | 621.64K | -1.02M |
| Investing Cash Flow | -1.03M | -2.67M | -1.18M | -1.59M | -5.62M |
| Financing Cash Flow | 2.57M | 2.63M | 2.94M | 748.94K | 6.28M |
Goldstone Resources Technical Analysis
Neutral
0.55
Price Trends
0.59
Negative
0.63
Negative
0.71
Negative
Market Momentum
-0.02
Negative
41.72
Neutral
70.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GRL, the sentiment is Neutral. The current price of 0.55 is above the 20-day moving average (MA) of 0.52, below the 50-day MA of 0.59, and below the 200-day MA of 0.71, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 41.72 is Neutral, neither overbought nor oversold. The STOCH value of 70.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:GRL.
Goldstone Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | £21.82M | -13.05 | -33.46% | ― | ― | 70.97% | |
44 Neutral | £7.47M | -37.66 | -0.55% | ― | ― | 77.01% | |
43 Neutral | £6.37M | -3.88 | -23.57% | ― | ― | ― | |
43 Neutral | £2.79M | -0.60 | -165.54% | ― | ― | 56.07% | |
41 Neutral | £8.81M | -0.74 | -80.39% | ― | -0.62% | 12.00% |
* Basic Materials Sector Average
GB:GRL
Goldstone Resources
0.53
0.08
16.67%
GB:ECR
ECR Minerals
0.16
-0.07
-29.55%
GB:CGNR
Conroy Gold and Natural Resources
8.00
-2.50
-23.81%
GB:PALM
Panther Metals Plc
195.00
116.00
146.84%
GB:HAMA
Hamak Gold Limited
0.55
-2.25
-80.36%
Goldstone Resources Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
GoldStone boosts finances and capacity as Homase output lags targets
Positive
Sep 30, 2026
GoldStone reported interim revenue of US$4.86 million and gross profit of US$2.49 million for the six months to 30 June 2026, with profit before tax of US$0.25 million versus a US$3.76 million loss a year earlier. Lower output of 1,214 ounces refl...
Business Operations and StrategyPrivate Placements and Financing
GoldStone Resources Wins Extended Interest-Free Period on Gold Loan
Positive
Sep 29, 2026
GoldStone Resources has secured a further amendment to its gold loan agreement with Asian Investment Management Services, extending the waiver of interest on the outstanding loan balance for the full year from 1 January 2026 to 31 December 2026. T...
Business Operations and StrategyFinancial Disclosures
GoldStone ramps up Homase drilling as it upgrades plant to bolster gold output
Positive
Aug 3, 2026
GoldStone Resources has launched a 2,000-metre reverse circulation pit definition drilling programme at its Homase Mine in Ghana, focusing on the proposed Pit 5 and Pit 6 oxide zones. The campaign aims to better define near-surface oxide mineralis...
Business Operations and StrategyPrivate Placements and Financing
GoldStone expands share capital as new subscription shares begin trading on AIM
Positive
Jul 23, 2026
GoldStone Resources has issued and admitted to trading 351,594,899 new ordinary shares on AIM, following a subscription by Persistence Gold Group. The new shares rank pari passu with existing stock, taking the company’s total issued share ca...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
GoldStone Tweaks Terms of Persistence Subscription Ahead of AIM Admission
Positive
Jul 13, 2026
GoldStone Resources has agreed a deed of variation with Persistence Gold Group to amend administrative aspects of a previously announced strategic subscription, while leaving the main commercial terms intact. Persistence will still subscribe for 3...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
GoldStone Resources secures £3.51m strategic investment from Persistence Gold Group
Positive
Jul 6, 2026
GoldStone Resources has secured a £3.51 million strategic equity investment from Hong Kong-listed Persistence Gold Group, which will acquire 351,594,899 new shares at 1.0 pence each, representing about 21% of the enlarged share capital. The f...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
GoldStone stabilises Homase operations and raises funds for West African growth
Neutral
Jul 1, 2026
GoldStone Resources reported a transitional 2025 as it worked to stabilise production at its Homase Mine in Ghana, improve recovery rates and boost operational efficiency, while advancing exploration to extend its oxide resource and progress the s...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
GoldStone stabilises Homase operations and raises funds to drive West African growth
Neutral
Jul 1, 2026
GoldStone Resources reported a year of operational stabilisation at its Homase Mine, concentrating on improving production consistency, recovery rates and efficiency, while strengthening governance and financial discipline. The company advanced ex...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.