Graystone June Production and Revenue Update
LIMA, Peru--(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:
“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”
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.
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