LIMA, Peru--(BUSINESS WIRE)--The Graystone Company (OTC: GYST) announced today that the Company has expanded its operations to a 2nd additional site and purchased heavy equipment from the proceeds of the Company’s mining operations.
The Company’s joint venture, Arara Mining, entered into a contract to allow the joint venture to begin mining operations on a 2nd claim in Suriname that is approximately 10 miles for the joint venture’s current site. During the recent downtime, the joint venture has conduct prospecting operations on the new site. The Company expects mining operations to begin within the next 45 days on the new site. The Company’s first site is currently conducting mining operations.
To handle the operations of the 2nd site, the joint venture has purchased 2 additional 5-ton per hour crushers and a 2nd full size excavator. The equipment was purchased from the proceeds of the Company’s South American mining operations.
The Company will announce mining results on or about April 25th. Additionally, we have been asked the exact locations of the mining sites; however, for security reasons the Company has decided not to disclose this information.
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.