Graystone Company Announces 91% Increase in Gold and Silver Sales
LIMA, Peru--(BUSINESS WIRE)-- The Graystone Company (OTCQB: GYST) announced today that the Company's retail sale of gold and silver increased by 91% in the month of September. The Company is investing additional resources to continue to expand and grow this division. The Company expects to grow retail sales to $30,000 per month by the end of the year.
Selling gold and silver through its retail division allows the company to increase its margins by 15-20%. Junior mining companies typically sell its ore to refineries for 5-7% below spot price. However, by selling it retail the Company can sell the gold and other precious metals for 10-15% over spot (for an increase of up to 20%). For example, the increase in margins could generate an additional $300 per ounce of gold.
The Company began selling gold and silver through www.graystonegold.com in February 2012. The Company opened an EBay Store in August 2012 and since then has increased sales by over 800%.
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. The Company sells gold and silver to retail buyers via www.graystonegold.com.
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.
KEYWORDS: South America Peru
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