LAS VEGAS--(BUSINESS WIRE)--The Graystone Company (OTCBB: GYST).
The Directors of The Graystone Company wanted to provide an update to its shareholders regarding the impact the price of gold has on the Company's expansion plans. This year has been a tremendous year for gold and there are many market analysts that are predicting a rise to $2,200 per ounce or more in the next 12 months. However, when the Company's management evaluates any projects it assumes the market price of gold is $850 per ounce.
"It can take 24-36 months or even longer to get a project into production," says Paul Howarth, managing director of The Graystone Company, "so to use the current price of gold when we evaluate a project is irresponsible. When we analyze a project we ask: is it profitable at $850 an ounce. If it is, we will consider the project."
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.
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