Graystone Company Announces Copper Campaign #1 Results
June 17 2014 - 9:00AM
Business Wire
The Graystone Company (OTC:GYST) announced today that the
Company’s copper project in Peru has completed its First campaign
with the following results. The company produced 203 tons of copper
ore at a total cost of $108.37 per ton. The company sold its copper
concentrate equaling $184.72 per ton of ore. The company’s copper
campaign #1 produced a net profit of $76.35 per ton or $15,499.05.
As per the terms of the joint venture agreement, the company also
recouped its operational costs equaling $21,999.11. “Considering
this was our first venture in copper, we were pleased to turn a per
ton net profit,” said Graystone CEO. “Our goal for campaign #2 is
to reduce the amount of time it takes to produce 200 tons of ore.
We have also identified some key equipment that needs to be
replaced to reduce breakdown time, and we also plan on purchasing
essential spare parts to be stored on site. Our experience of
conducting a successful campaign has enabled us to identify areas
we can become more efficient and profitable.”
The company also announced today that 10-14 days of mine
maintenance has already commenced and we anticipate campaign #2
will start around July 1, 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.
The Graystone Company, Inc.Joseph Wade,
702-289-4827info@graystonegold.comwww.graystone1.com
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