Goldstone Resources Limited (GB:GRL)
LSE:GRL
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Goldstone Resources
(LSE:GRL)
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Rating:52Neutral
Price Target:
1.50 p
▲(172.73% Upside)
Action:ReiteratedDate:02/04/26
The score is held back primarily by weak financial performance (losses, margin compression, negative free cash flow, and rising leverage). Technical indicators are a meaningful offset, showing strong price strength above key moving averages with positive momentum. Valuation remains unfavorable due to the loss-making profile implied by the negative P/E and lack of dividend data.
Positive Factors
Strong Revenue Growth
Nearly 90% reported revenue growth indicates the company is scaling production or sales. Over 2-6 months this growth trajectory supports higher operating leverage if costs are controlled, enabling potential margin recovery and stronger project economics as volumes rise.
Negative Factors
Profitability Pressure
Substantially lower gross margins and persistent negative operating and net margins indicate poor cost control or lower realized prices. If margins remain compressed, the business will struggle to generate sustainable earnings and fund growth without structural cost improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Nearly 90% reported revenue growth indicates the company is scaling production or sales. Over 2-6 months this growth trajectory supports higher operating leverage if costs are controlled, enabling potential margin recovery and stronger project economics as volumes rise.
Read all positive factors
Goldstone Resources (GRL) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£10.61M
Dividend YieldN/A
Average Volume (3M)2.32M
Price to Earnings (P/E)―
Beta (1Y)0.38
Revenue Growth93.10%
EPS Growth-150.00%
CountryUK
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,325,830,100
10 Day Avg. Volume1,089,646
30 Day Avg. Volume2,315,892
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)0.87
Price to Sales (P/S)1.85
P/FCF Ratio-3.50
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, through its subsidiaries, engages in the exploration and development of gold and associated elements in West and Central Africa. It holds 100% interest in the Akrokeri-Homase Gold project located in Ghana. The company ...
How the Company Makes Money
Goldstone Resources generates revenue primarily through the extraction and sale of gold. Its revenue model is centered on mining operations that convert gold ore into marketable products. The company earns money by selling gold directly to refiner...
Goldstone Resources Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | Jun 2025 | Dec 2023 | Dec 2023 | Jun 2022 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.95M | 2.20M | 8.90M | 0.00 | 0.00 |
| Gross Profit | 1.22M | 1.26M | 3.16M | 0.00 | 0.00 |
| EBITDA | -1.88M | -1.01M | 109.52K | -722.91K | -562.54K |
| Net Income | -4.15M | -2.69M | -674.41K | -2.25M | -643.04K |
Balance Sheet | |||||
| Total Assets | 24.16M | 22.15M | 21.07M | 23.83M | 17.68M |
| Cash, Cash Equivalents and Short-Term Investments | 95.78K | 121.43K | 113.31K | 336.52K | 701.38K |
| Total Debt | 9.50M | 6.57M | 2.91M | 4.81M | 5.83M |
| Total Liabilities | 13.63M | 12.93M | 8.28M | 7.84M | 6.83M |
| Stockholders Equity | 10.53M | 9.22M | 12.78M | 16.00M | 10.85M |
Cash Flow | |||||
| Free Cash Flow | -2.62M | -2.93M | -972.15K | -6.64M | -4.90M |
| Operating Cash Flow | 49.48K | -1.75M | 621.64K | -1.02M | -236.95K |
| Investing Cash Flow | -2.67M | -1.18M | -1.59M | -5.62M | -4.67M |
| Financing Cash Flow | 2.63M | 2.94M | 748.94K | 6.28M | 5.52M |
Goldstone Resources Technical Analysis
Positive
0.55
Price Trends
0.87
Negative
0.66
Positive
0.58
Positive
Market Momentum
-0.02
Negative
52.88
Neutral
71.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:GRL, the sentiment is Positive. The current price of 0.55 is below the 20-day moving average (MA) of 0.72, below the 50-day MA of 0.87, and below the 200-day MA of 0.58, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 52.88 is Neutral, neither overbought nor oversold. The STOCH value of 71.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | £10.61M | -0.56 | -47.73% | ― | 93.10% | -150.00% | |
51 Neutral | £8.46M | 5.22 | -2.46% | ― | ― | ― | |
48 Neutral | £6.73M | -0.83 | -110.53% | ― | ― | ― | |
46 Neutral | £3.73M | -1.95 | -86.67% | ― | ― | ― | |
45 Neutral | £7.57M | -3.75 | -24.33% | ― | ― | ― |
* Basic Materials Sector Average
GB:GRL
Goldstone Resources
0.80
-0.18
-18.37%
GB:ECR
ECR Minerals
0.23
0.01
4.55%
GB:IGLD
Caracal Gold PLC
0.28
0.00
0.00%
GB:CGNR
Conroy Gold and Natural Resources
11.00
8.20
292.86%
GB:PALM
Panther Metals Plc
77.50
41.00
112.33%
GB:HAMA
Hamak Gold Limited
0.83
0.20
33.06%
Goldstone Resources Corporate Events
Business Operations and Strategy
GoldStone Advances Homase Mine Development While Reviewing CSR Strategy
Positive
Feb 4, 2026
Continued gold pours totaling roughly 12 kilograms in January, fresh mining of near-surface oxide ore at Homase Pit 3, and the build-out of Pad 6’s leach infrastructure aim to keep output momentum while drilling preparations for Pits 5 and 6...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
GoldStone Raises £2m and Restructures Liabilities to Accelerate Ghana Gold Exploration
Positive
Jan 21, 2026
GoldStone Resources has convened an extraordinary general meeting and has conditionally raised £2.0 million through a subscription for 200 million new shares at 1 penny each, with accompanying warrants, in a move designed to strengthen its ba...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresPrivate Placements and Financing
GoldStone Targets Higher Output from Homase as New Leach Capacity Comes Onstream
Positive
Jan 7, 2026
GoldStone Resources reported 2025 gold production of 2,912 ounces from its Homase mine in Ghana, generating about US$10 million in revenue despite disruptions from an unusually heavy rainy season and frequent regulatory inspections that constraine...
Business Operations and StrategyPrivate Placements and Financing
GoldStone Wins Year-Long Extension and Interest Freeze on Gold Loan
Positive
Dec 30, 2025
GoldStone Resources has secured an amendment to its gold loan agreement with Asian Investment Management Services, extending the loan’s maturity by a year to 31 December 2026 and freezing interest payments for six months to 30 June 2026. Man...
Business Operations and StrategyExecutive/Board Changes
GoldStone Resources bolsters board with two independent non-executive directors
Positive
Dec 22, 2025
GoldStone Resources has strengthened its board by appointing two independent non-executive directors, Richard Kofi Amegashie and Michael Jones, bringing in a blend of international strategic, commercial and technical mining expertise. Amegashie ad...
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.