The Graystone Company (GYST) Announces Launch of Retail Gold and Precious Metals Division
January 17 2012 - 8:00AM
Business Wire
The Graystone Company (OTC Bulletin Board: GYST), announced
today that it has launched its retail gold and precious metals
division, Graystone Gold and Precious Metals. The division will be
selling precious metals directly to consumers through its website
www.GraystoneGold.com. The Company will initially focus on selling
gold and silver bullion.
The Company intends to vertically integrate its business from
producing gold and precious metals from its own mines to being able
to sell directly to consumers and jewelers. Selling gold and silver
through its retail division allows the company to increases its
margins by 15-20%. Junior mining companies typically sell its ore
to refineries for 5-7% below spot price. However, by selling it
retail the Company can sell the gold and other precious metals for
10-15% over spot (for an increase of up to 20%). For example, the
increase in margins could generate an additional $300 per ounce of
gold.
The Company will initially purchase gold and the other precious
metals from wholesale sources until the Company's mining operations
begin producing sufficient ore.
"This is just our first step in vertically integrating our
business, " said Paul Howarth, managing director of The Graystone
Company. "Our focus is to bring our mining operations online and to
generate revenue as quickly as possible. The retail division allows
the Company to begin generating revenue almost immediately. We
expect to grow the retail business over the next 8-12 months while
we are building out our mining operations. At which time, we can
begin selling the gold and silver we produce directly to consumers
and jewelers."
The division's website is still in its beta testing phase and
expects to go live on February 1, 2012. During the beta testing
phase, the Company will limit its transactions to 1 ounce silver, 1
gram gold and 1 ounce gold bars.
About The Graystone Company.
The Graystone Company, Inc. is a U.S.-based mining and exploration
company focused on acquiring and developing gold and other mineral
properties. The Company's strategy is to build value for
shareholders by the identification, acquisition and exploration of
early-stage properties that show significant potential for the
discovery of gold.
Notice Regarding Forward-Looking
Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
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