GoldCoast Resource
GoldCoast Resource Corp. holds ten offshore reconnaissance licenses over ~10,000 km² of Ghana’s western continental shelf, ~53% of the country’s offshore coastline. Its reverse takeover of Psyence Group Inc. closed on 27 July 2026, and Psyence took the GoldCoast name. The shares are not trading yet; the company intends to begin trading on the Canadian Securities Exchange under GCR in mid-August 2026.
News and articles
Overview
GoldCoast is a placer gold company, not a deep sea miner. Its own presentation draws the distinction directly.
- The target is free gold in unconsolidated sediment on the shallow shelf, at water depths of 10 to 20 meters, expected within the first 2 to 3 meters of the seabed.
- Recovery is by dredging and 100% gravity separation. The company says its method uses no blasting, cyanide, reagents or tailings dams.
- Three major rivers carrying gold eroded from Ghana’s onshore gold belts converge on this stretch of shelf. Robert J. Griffis, the company’s senior vice president of exploration and senior author of The Gold Deposits of Ghana, puts the eroded inventory carried to the shelf at ~200 million ounces. That is his regional estimate, not a resource for GoldCoast’s licenses.
- GoldCoast has published no mineral resource or reserve estimate. Its work to date is reconnaissance sampling.
- Ghana is Africa’s largest gold producer and sixth largest in the world.
The license
| Item | Detail |
|---|---|
| Area | ~10,000 km² reconnaissance license over the western offshore continental shelf |
| Coastline covered | ~300 km, ~53% of Ghana’s offshore coastline |
| Granted | 26 January 2026, ten offshore reconnaissance licenses for gold exploration |
| Water depth | 10 to 20 meters |
| Holding structure | The Canadian parent holds 90% of the Ghanaian subsidiary that owns the licenses. The remaining 10% is local ownership held by Sir Sam Jonah. |
Sampling to date
- 30 samples taken across beach sands, the Ankobra River and the ocean floor averaged 0.44 g/m³, against a projected cutoff of 0.08 g/m³ at a US$3,000 gold price.
- 14 samples from the Ankobra River and continental shelf averaged 0.492 g/m³; 10 beach sand samples averaged 0.535 g/m³; 6 ocean floor samples averaged 0.16 g/m³.
- A 200 km coastal random sampling program in 2026 returned gold grains in beach sands at points ~50 km apart, from 5 litre samples, up to 13 grains per sample.
- These are company figures from its corporate presentation. None of it is a compliant resource estimate.
Work program
- 2026: airborne magnetic survey over the full 10,000 km² concession, then a seaborne survey to map the seafloor and subsurface and define areas of interest.
- 2027: continued sampling and interpretation, pilot testing and in-country operations, budgeted at ~US$270,000 a quarter.
- 2028: initiate near-shore contract dredging and migrate to commercial production.
- The 24 month Ghana work program is budgeted at US$8.65 million.
- The company argues shallow water contract dredging can reach production in ~24 months, against 10 to 15 years for a greenfield onshore gold project, because dredge vessels can be contracted rather than built.
Presentations
Ownership
| Holder | Common shares | Percent | As reported in |
|---|---|---|---|
| Sir Samuel Esson Jonah, founder and chairman | 17,743,012 | 25.6 | Listing statement, July 2026 |
| Total common shares outstanding | 69,300,403 | 100 | Listing statement, July 2026 |
Group ownership
| Group | Common shares | Percent | Source |
|---|---|---|---|
| Directors and officers | 38,926,036 | 56.17 | Listing statement, July 2026, share count computed |
| All insiders, as filed on SEDI | 32,877,634 | 47.44 | SEDI, 08 August 2026 |
| Psyence Group holders, on the amalgamation | 2,321,564 | 3.35 | Closing release, 28 July 2026, share count computed |
The SEDI figure counts only the directors and officers who have filed their own holdings. The listing statement figure is the complete one.
Sir Sam Jonah separately holds 10% of the Ghanaian licence-holding subsidiary directly, alongside the Canadian parent’s 90%.
Insider filings
Filings
| Date | Insider | Nature | Ownership | Security | Volume | Price |
|---|---|---|---|---|---|---|
| Jul 27/26 | Botha, A. | Split or consolidation | Direct | Common Shares | -48,900 | n/a |
| Jul 27/26 | Friedman, A. M. | Split or consolidation | Direct | Common Shares | -246,442 | n/a |
| Jul 27/26 | Griffis, A. T. | Opening balance | Direct | Common Shares | 6,184,053 | n/a |
| Jul 27/26 | Banson, B. | Opening balance | Direct | Common Shares | n/a | n/a |
| Jul 27/26 | Aufrichtig, J. | Split or consolidation | Direct | Common Shares | -99,721 | n/a |
| Jul 27/26 | Nikiforuk, M. A. | Opening balance | Direct | Common Shares | 8,950,569 | n/a |
| Jul 27/26 | Jonah, S. E. | Opening balance | Direct | Common Shares | 17,743,012 | n/a |
| Jul 27/26 | Corden-Lloyd, W. | Split or consolidation | Direct | Common Shares | -85,116 | n/a |
| Apr 21/26 | Botha, A. | Exercise of rights | Direct | Common Shares | +27,777 | n/a |
| Apr 21/26 | Friedman, A. M. | Exercise of rights | Direct | Common Shares | +114,386 | n/a |
SEDI filings, covering the past 365 days. Acquisitions are green, dispositions red. Prices are as reported on the filing; an opening balance carries neither a volume nor a price.
Reported position by insider
| Insider | Position | Common shares held | % of shares out |
|---|---|---|---|
| Jonah, Samuel Esson | Director | 17,743,012 | 25.60 |
| Nikiforuk, Michael A.J. | Officer and director | 8,950,569 | 12.92 |
| Griffis, A. Thomas D. | Officer and director | 6,184,053 | 8.92 |
| Banson, Bobby | Director | 0 | 0.00 |
| Ding, Yongbiao | Officer | 0 | 0.00 |
Every current director and officer on the SEDI register as at 08 August 2026, on their most recent filed balance. Non-derivative common shares only, so options, warrants and rights are excluded, and a director whose holding is entirely options shows nil. People who have ceased to be insiders are excluded, as are records left open by former insiders who never filed a notice of ceasing. Percentages are computed against 69,300,403 shares outstanding.
Filing archive
GoldCoast reports in Canada, so its filings sit on SEDAR+. The record below was filed by the same reporting issuer under its former name, Psyence Group Inc., and continues under GoldCoast Resource Corp. Every document is hosted here.