Graystone June Production and Revenue Update
July 08 2014 - 12:00PM
Business Wire
The Graystone Company (OTC: GYST) announced today that the
Company’s mining operations has generated approximately
936 grams of gold during June 2014. This represents the best month
of Gold production for the Company. The company also announced its
unaudited gross revenue for Q2 2014 was $123,611.00 from all of its
mining sites, including its successful copper campaign #1. That is
an increase over the company’s Q1 2014 unaudited gross revenue of
$30,187.50. The Q2 monthly revenue breakdown is as follows:
April - $25,375.00, May - $27,035.00, June - $71,201.00*
* (This number includes its first time copper sale in June
2014.)
Peru Copper Update:
On Monday, June 30th, 2014 the company starting testing ore from
the new area of its current copper project and sent samples to a
local lab in Nazca, Peru. The company is extracting samples at
different depths of the new area and will compile a blended
analysis of the sample results.
The Company has completed the mine maintenance work for its
copper campaign #2. The company anticipates the mine will be back
in production on or about July 11, 2014.
The company also announced it has agreed to a new Joint Venture
with an adjacent claim owner/ operator on the same mountain peak as
its current copper project. The terms are as follows. Graystones
subsidiary, Grupo Mineral Inca, SAC (GMI) will purchase raw ore
from the already producing copper mine direct from their mining
site at a pre-negotiated discount, after taking samples to its
Nazca lab to analyze purity. This will enable the mines current
producer to improve their current cash flow and save them the
upfront cost of tucking and processing the ore. In return, GMI will
receive a 35 percent discount on the value of the raw ore pre
processing. GMI will receive all of the proceeds of the ore sale,
post processing, when the concentrate has a greater value and
profit margin. The mine producer currently pays a 50 percent
discount when selling its ore to regional ore brokers. The company
is also looking at purchasing ore from other producing mines at
similar discounts.
“The purchase of raw ore is currently a thriving business in
Peru. Depending on our cash flow, we intend on pursuing these
opportunities after analyzing proper discounts, logistics and
profit margins,” stated Graystone’s CEO.
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.
Contacts:The Graystone Company, Inc.Paul Howarth, (702)
289-4827info@graystonegold.comwww.graystone1.com
The Graystone Company, Inc.Paul Howarth,
702-289-4827info@graystonegold.comwww.graystone1.com
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