UPDATE 1-Goldstone Resources fires COO Conn

Fri Oct 1, 2010 11:42am EDT

* Gives no reason for termination

* Second top executive to leave in a week

Oct 1 (Reuters) - Gold explorer Goldstone Resources Inc GRC.TO fired its chief operating officer, days after terminating its chief executive.

The company did not give any reason for the termination of Gary Conn, who was also its treasurer.

Earlier this week, the company had fired CEO J. Patrick Sheridan on grounds that he was not prepared to work with the board or fulfill his responsibilities. [ID:nSGE68Q0IL]

Sheridan is also the founder and CEO of a junior gold explorer Guyana Goldfields Inc (GUY.TO).

Shares of Goldstone Resources, which have gained more than 9 percent over the week, were flat at 58 Canadian cents Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Don Sebastian) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))