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Home > Junior Resource Stocks > Goldstone Resources Inc.
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Goldstone Resources Inc. (Symbol: T.GRC)

Company Name: Goldstone Resources Inc.
HQ Location: Toronto, Ontario
Company Website: www.goldstoneresourcesinc.com
Shares Outstanding 98.1 Million
Closing Price (Oct 25, 2010) $0.70
Market Cap: $68.7 Million
Average Daily Volume 441,000
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The Ubika Research Resource Stock Watchlist is a feature that profiles junior mining stocks. Visitors will discover high potential Canadian mining stocks, the best gold stocks, small cap energy stocks and junior gold companies through this very popular feature.

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Goldstone Resources Inc. - Chart

Business Overview

Goldstone Resources Inc. (Goldstone), formerly Ontex Resources Limited, is an exploration-stage company. The Company and its subsidiaries hold several gold resource properties in the prolific Beardmore-Geraldton region, northwestern Ontario. It holds a 100% interest in the Brookbank gold deposit, Leitch-Sand River mine, Northern Empire Gold mine and the Nortoba-Tyson property in Beradmore. It also has a 30% carried interest in The Hardrock Project, a joint venture with Premier Gold Mines Limited (TSX: PG) as operator.

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What is interesting about Goldstone Resources Inc. (T.GRC)?

  • A promising junior gold exploration company with 100% ownership of several high potential gold exploration properties in the prolific Beardmore-Geraldton region, northwestern Ontario.
  • Goldstone has assembled a property package in and around old producing mines. In general, the chances of finding gold deposit near older mines are higher. There are ten formerly productive mines on Goldstone lands that historical produced in excess of 4 million ounces of gold.
  • The company is currently focused on its 100% owned Key Lake, Brookbank, Northern Empire and Leitch-Sand River gold properties and also has a 30% carried interest in the Hardrock Property, which is in joint venture with Premier Gold Mines Inc.
  • The company already has a combined total of NI 43-101 compliant indicated and inferred resource in excess of one million ounces of gold at its 100% owned Brookbank and Northern Empire Mine properties.
  • The company is engaged in active exploration programs at its properties and is in the process of finalizing preliminary economic assessment of the Brookbank deposit.
  • Many of these Goldstone’s properties remain open at depth and present strong untapped potential through extensions and parallel occurrences.
  • Goldstone’s joint venture with Premier Gold Mines Inc. at the Hardrock Project is a big advantage. The company owns 30% of The Hardrock Project, an advanced stage gold exploration project, where Premier Gold Mines Inc. is an operator with 70% interest.
  • The Hardrock Project comprises approximately a 15-kilometre long property package in a district that has historic production in excess of 4.0 million ounces.
  • The Hardrock project has NI 43-101 compliant resource estimate of approximately 1.1 million oz (0.67 million oz in the indicated category), as reported by Premier Gold. The property is surrounded by strong infrastructure and lies only a few kilometers south of the Town of Geraldton, which is serviced by the Trans-Canada Highway, Trans-Canada Pipeline.
  • Premier Gold is actively drilling at the Hardrock Project and recently reported significant gold mineralization in multiple horizons below historically mined zones, which produced more than 2.1 million ounces to maximum depths of only 600 metres.
  • Company’s projects are in Ontario, Canada, a safe and stable mining jurisdiction with very low geo-political risks.
  • The company has a strong and stable management team at the helm with a proven exploration team to carry exploration programs.
  • As of June 30, 2010 the company had over $5 million in cash and no debt and has enough working capital to carry its planned exploration programs in the short term.

Risks

Goldstone is an early stage exploration company. The commercialization risks associated with gold mineral exploration and development are high and its prospects for discovering economically viable gold resources are uncertain. Gold prices can fluctuate and a decline in the gold prices could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although currently well financed, Goldstone may still require additional financing. This could result in shareholders’ dilution.

Goldstone Resources Inc. News

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Goldstone Resources Inc. may enter into a commercial relationship with Ubika Corporation, Investor Cubed or our affiliates for research coverage and capital market services and may pay fees and or shares or stock options or warrants for being mentioned at smallcappower.com. Hence the highlighted company information is an advertisement only and does not and will not constitute an offer to buy or sell securities in the highlighted company.


Was any fee (either in Cash or in Stocks/Options) paid by the company to smallcappower.com or its principal’s Ubika Corporation and/OR Investor Cubed Inc for providing services No
   
Common Stock/Options Ownership in Goldstone Resources Inc.  
Analyst(s) No
Analyst’s family members No
Analyst’s firm, their affiliates and/or subsidiaries No
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