Exploration and development company GoldStone Resources has secured the remaining key permits for the development of the Homase South Pit in Ghana.

The pit forms part of the Akrokeri-Homase Gold Project (AKHM project), located near the Akrikeri town in Ashanti region of Ghana.

The AKHM project involves the redevelopment of two producing mines namely Akrokeri and Homase.

The company has secured mining operating permit as well as the water use permit from the relevant government bodies for the Homase South Pit.

Goldstone CEO Emma Priestley said: “We thank the Minerals Commission, Water Resources Commission of Ghana and all involved for the approval of our Permits, with these approvals in place, there is clear demonstration of continued support for the project development from the Ghana Government.

“We are delighted with the granting of these permits which allows the Homase South Project, to advance with its development phase.

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“We thank SI Capital for their support to GoldStone during these past few years and we look forward to updating the market as the Project development progresses.”

Last week, the Ghanaian Environmental Protection Agency (EPA) has given the environmental permit for the Homase South Pit.

GoldStone Resources expects to achieve first gold pour from the AKHM Project within two months.

The Homase Pit was developed by AngloGold Ashanti in 2002/03 and had produced 52,500 oz gold at 2.5 g/t recovered.