Goldstone Resources has been on our radar for some two years now. Over this time the company has progressively advanced its highly prospective license areas in West Africa with an intelligent exploration strategy. In Ghana right now, the company is engaged in an aggressive campaign exploration programme at Homase- Akrokerri, with two drill rigs running and airborne geophysical study (VTEM) commissioned.

In January 2011 we published an article about Goldstone’s Ghanaian projects, at Homase-Akrokerri and also Manso Amenfi. In this we introduced the concept of “Closeology” to our readers. For anyone with an active interest in resource investment, Closeology (or the study of what is close!!!) can be an extremely useful indicator in assessing the chances of an explorer replicating the success of its neighbour. Closeology gives us a broad benchmark in order to assess regional geology and the commercial operating environment so we may form a view on the potential for value creation in an investment.

Our Closeological study of Goldstone’s Ghanaian licenses proved popular with readers and helped highlight the strength of these projects. More importantly the report gave a glimpse of what was yet to come. Just like Goldstone we are firm believers that if an approach works, keep repeating it. It’s simple really. So with this in mind, we now turn our attention to another of Goldstone’s blue-sky projects, namely Sangola in Senegal.

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GoldStone Resources has achieved a great deal in two years.  From what was essentially a small mineral resources business with interests in bauxite and uranium the company has refocused and become a highly exciting African gold exploration and development business.

With projects in Ghana, Senegal and more recently Gabon, the company is poised to create substantial value for investors, particularly now they have the funds needed to ramp up their operational activities across the board; building a substantial JORC in Ghana and getting their teeth into their highly prospective Gabon licenses.

Gold exploration is a risky business. For the Explorers, the challenges are numerous, both geologically and commercially.

But for investors in this high stakes game, they can be equally daunting. Ultimately though it all comes down to one thing: making sure you're backing the right team who can demonstrates the highest likelihood of making that all important transformational discovery!

So what are the signs to look for in a winner?

PROJECT : THE MANSO AMENFI PERMIT - GHANA

Joint Venture Agreement and Location

The Company entered into a joint venture agreement with Asasemu Mining, a Ghanaian company, to develop the Manso Amenfi Prospecting License.  Through the agreement GoldStone has the right to earn up to 85% interest in the permit.  The Manso Amenfi License is situated in the Wasa Amenfi West District of the Western Region in Ghana, approximately 30 km from the town of Tarkwa and approximately 250 km west of the capital Accra (Figure 1).  The permit is approximately 83 square kilometres in extent.

As any London estate agent would tell you, when it comes to buying a property, it’s all about location – especially in these markets where, provided you’re on the right side of the tracks, you’ll still be able to find a willing buyer for your £140m Knightsbridge Penthouse . Demonstrating beyond doubt that provided you’re in the right location, you can totally disregard the effects of even the most severe of economic downturns!

And if your family had the Monopoly™ board out over the Christmas break, you won’t need me to remind you how satisfying it can be if you are fortunate enough to snap up Mayfair and Park Lane early on in the game and end up with hotels on each!

Since May of this year, Goldstone Resources (LON:GRL) have secured nearly £4.2million cash, in order to fund an expanded exploration programme and have also gained a serious strategic partner in Bendigo Mining (ASX:BDG).

Goldstone Resources announced its maiden JORC at Homase last week (click here to view) and Mining Maven gave Exploration Director Hendrik Schloemann the opportunity to expand on the news with a brief Q&A session for investors (click here to view).