Graystone Company Announces Copper Campaign #2 Results
August 27 2014 - 9:00AM
Business Wire
The Graystone Company (OTC: GYST) announced today that its
wholly owned subsidiary, Grupo Mineral Inca, SAC (GMI) has
completed the Company’s copper campaign #2 in Peru with the
following results.
The company produced and/or sourced 187 tons of copper/gold ore
at a total cost of $116.90 per ton. The company sold its
copper/gold concentrate equaling $224.59 per ton of ore. The
company’s copper campaign #2 produced a net profit of $107.69 per
ton of ore processed. Campaign #2 had an increased per ton profit
of $31.34 compared to the net profit per ton of $76.35 for campaign
#1. GMI’s gross revenue from campaign #2 was $41,998.
As per the terms of the joint venture agreement on its copper
claim, the company also recouped its operational costs specific to
campaign #2. “Considering this was our second campaign in copper
and our first round of bulk ore purchase, were pleased to once
again turn a per ton net profit,” said Graystone CEO. “We produced
a recoverable amount of gold which was not present in the first
campaign. Our experience of conducting a successful campaign mining
copper and the purchase of bulk ore has enabled us to become more
efficient and profitable in this area of our mining
operations."
Our plan for campaign #3 is to continue mining at our copper
claim in Peru and expand our bulk ore purchase program including
more gold rich ore purchases. After a brief break for the workers,
Campaign #3 is scheduled to start on or about September 15,
2014.
The company also announced today that its gold prospecting teams
have identified two new targets on its gold claims. Testing is
underway to determine if the company will open up new gold mining
camps for these new targets.
A gold update from its Gold claims in Peru and Suriname will be
available on or about September 9th, 2014. The company is currently
producing gold weekly via bulk sampling at several of its gold
mining camps in Suriname and Peru. Satellite images, claim
information and camp/ore processing photos can be found on its
website www.graystone1.com and/or octmarkets.com filings and the
SEC’s website.
The company has also uploaded to otcmarkets.com lab testing
results from samples taken from its ore pile on August 14,
2014.
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.
(702) 289-4827
info@graystonegold.com
www.graystone1.com
The Graystone Company,
Inc.702-289-4827info@graystonegold.comwww.graystone1.com
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