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The Graystone Company Announces Completes the Acquisition of Grupo Minero Inca, S.A.C.
The Graystone Company (OTCBB: GYST), announced today that is has completed the acquisition of all the issued and outstanding stock of Grupo Minero Inca ("GMI"), S.A.C. a Peruvian Company. Graystone previously owned 25% of Grupo Minero Inca. As a result of the acquisition, Grupo Minero Inca becomes a wholly owned subsidiary of Graystone. Graystone has also obtained a Peruvian RUC number (equivalent to a tax ID number) for its subsidiary which allows the company to conduct business in Peru.
Graystone, through its subsidiary, can now acquire claims, concessions and hire employees directly without being forced to enter into joint ventures and sharing revenue with an unrelated entity because it cannot conduct business in Peru. Grupo Minero Inca will not only be working the Company's claims but also engage in general exploration for additional mining interests that can be acquired by Graystone. Grupo Minero Inca already owns assets that include boats, water pumps, generators, sluice box and other mining equipment. The Company also acquired the mining camp on Gorilla that includes barracks for the workers, kitchen, office, laboratory and other out-buildings as well. Photos of the camps and equipment can be found on the Company's website: http://www.graystone1.com/photo-gallery.
"The acquisition of Grupo Minero Inca allows us to build the necessary foundation in Peru," say Paul Howarth, CEO of The Graystone Company. "Being able to acquire claims and concessions and hire employees who work directly for the company provides the control we need to fully build out Gorilla and our other claims. While other companies can only own a certain percentage of a mining interest through a joint venture, we are able to own 100% of any mining interest we want to acquire in Peru."
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.
Good Morning Everyone, I am looking to pick up some shares this week. I think its going to start moving up from here. IMHO
NBRI support at .15 imo
Nice news MT!
The private company was taken public, no reverse merger, no reverse split, they had to go through the jumps and hoops that the sec has put in the way to keep the fraudulent companies who do nothing and have no revenue from going public. Kind of cool if you ask me.
GYST Not your average mining company. From start up a year ago, they are already at $150,000 in revenue, They have mining claims in Peru, South America in which has resulted in $5000.00 in GOLD sales, which is more than most pink/bb mining companies have had in 5 years.
Geological Report
GYST vs. POTG Market Comparison
The Graystone Company: GYST Financials
Market Value $61,670,400 a/o Nov 01, 2011
Shares Outstanding 192,720,000 a/o Oct 20, 2011
Authorized Shares 700,000,000 a/o Aug 03, 2011
Revenue
$38,302----Three Months Ending June 30, 2011
$82,137----Six Months Ending June 30, 2011
$156,941---Period from Inception to June 30, 2011
Portage Resources: POTG Financials
Market Value $314,218,500 a/o Nov 01, 2011
Shares Outstanding 4,457,000,000 a/o Oct 24, 2011
Authorized Shares 5,000,000,000 a/o Oct 24, 2011
Par Value 0.001
Revenue
$0.00----Three Months Ending June 30, 2011
$0.00----Six Months Ending June 30, 2011
$0.00---Period from Inception to June 30, 2011
GYST Not your average mining company. From start up a year ago, they are already at $150,000 in revenue, They have mining claims in Peru, South America in which has resulted in $5000.00 in GOLD sales, which is more than most pink/bb mining companies have had in 5 years.
Geological Report
GYST vs. POTG Market Comparison
The Graystone Company: GYST Financials
Market Value $61,670,400 a/o Nov 01, 2011
Shares Outstanding 192,720,000 a/o Oct 20, 2011
Authorized Shares 700,000,000 a/o Aug 03, 2011
Revenue
$38,302----Three Months Ending June 30, 2011
$82,137----Six Months Ending June 30, 2011
$156,941---Period from Inception to June 30, 2011
Portage Resources: POTG Financials
Market Value $314,218,500 a/o Nov 01, 2011
Shares Outstanding 4,457,000,000 a/o Oct 24, 2011
Authorized Shares 5,000,000,000 a/o Oct 24, 2011
Par Value 0.001
Revenue
$0.00----Three Months Ending June 30, 2011
$0.00----Six Months Ending June 30, 2011
$0.00---Period from Inception to June 30, 2011
GYST Not your average mining company. From start up a year ago, they are already at $150,000 in revenue, They have mining claims in Peru, South America in which has resulted in $5000.00 in GOLD sales, which is more than most pink/bb mining companies have had in 5 years.
Geological Report
GYST vs. POTG Market Comparison
The Graystone Company: GYST Financials
Market Value $61,670,400 a/o Nov 01, 2011
Shares Outstanding 192,720,000 a/o Oct 20, 2011
Authorized Shares 700,000,000 a/o Aug 03, 2011
Revenue
$38,302----Three Months Ending June 30, 2011
$82,137----Six Months Ending June 30, 2011
$156,941---Period from Inception to June 30, 2011
Portage Resources: POTG Financials
Market Value $314,218,500 a/o Nov 01, 2011
Shares Outstanding 4,457,000,000 a/o Oct 24, 2011
Authorized Shares 5,000,000,000 a/o Oct 24, 2011
Par Value 0.001
Revenue
$0.00----Three Months Ending June 30, 2011
$0.00----Six Months Ending June 30, 2011
$0.00---Period from Inception to June 30, 2011
GYST is currently doing Alluvial Mining, which is much cheaper and much quicker to do, from start up to production.
Alluvial gold is mixed with the sand and gravel of rivers, streams and lakes. Running water washes it from upstream and deposits it in the sand. The gold is usually in the form of fine grains or small nuggets. Gold can also be found in quartz and can be extracted after the rock is crushed. Over the years, miners have developed many methods for mining.
Panning
Panning is one of the simplest methods for finding alluvial gold. The prospector fills the pan with sand from the river or stream and then a process of "washing" it by swishing it around in the water. Gold is heavier than sand, so it settles to the bottom of the pan. By sloshing a pan of dirt around in the water, the lighter materials are washed away, leaving gold, if it's present.
Panning is a fairly slow process and, according to Bureau of Land Management, an experienced panner can process only about 10 pans an hour.
Sluicing
Another method for finding alluvial gold is to use a sluice box. A sluice box is a long, narrow trough made out of wood, metal or plastic. It's placed in running water, with a slight downhill tilt, so that water flows through the box. The prospector shovels gravel into the top of the box, where the water enters. As the water runs through the box, it washes away the lighter gravels and sediment, leaving any gold behind.
According to Gold Prospectors of the Rockies, a sluice box lets a prospector process five to 10 times the amount of material he can pan in a day. A variation of this method, called dry washing, uses a blast of forced air to blow away anything lighter than gold.
Dredging
Commercial dredges were floating factories that could move and process thousands of cubic yards of material per day. These dredges had a big set of buckets at one end, sediment sorters and sieves in the middle to process the sediment, and a crane at the other end to distribute waste material. Commercial dredges were used through the 1960s, but other methods have replaced them. Small-scale miners still use this method, using smaller machines.
Read more: Mining Methods for Alluvial Gold & Quartz | eHow.com http://www.ehow.com/list_7297777_mining-methods-alluvial-gold-quartz.html#ixzz1cpwgSJkT
Good Morning MARK. News?? Coming!! If i know anything about this management team is that they are very transparent and do everything on the up and up. IMHO
$GYST>>>>Mining Industry!!! Best to be in right now. imho
The Graystone Company:
Market Value $61,670,400 a/o Nov 01, 2011
Shares Outstanding 192,720,000 a/o Oct 20, 2011
Authorized Shares 700,000,000 a/o Aug 03, 2011
Revenue
$38,302----Three Months Ending June 30, 2011
$82,137----Six Months Ending June 30, 2011
$156,941---Period from Inception to June 30, 2011
I have no intentions of selling this under .80. I bought in from before they were even public, I believe in the management team. They do exactly what they say they are going to do.
This is a great buy and hold company. I bought in over a year ago.
Great Comparison Mark! We need our market cap that high if they haven't even had any revenue PERIOD!!
Thats a pretty nice website.
Nice news on FTCH
LOL, I really think that the CEO is going to take care of the pps so that he can make money too.
Nice post! I agree with you 100%. Graystone has done more in 10 months than most mining companies do it 5 years. IMO
I think Graystone is on the right track. 10 months in the mining business and they are already in the exploration stage.
GYST is a new mining company. Exploration has already began. It could be worth checking out.
Quite impressive Vidao, Ceo is not taking a salary, that means he is going to be more concerned about the share price than anyone, since he is the majority holder!!
FTER--"2010 is off to a strong start for Forterus," stated CEO Paul Howarth
Promising? I think so...
Where did you find that?
Im counting on it if not im gonna be a lil upset buying in with soooo much!
SWEEEEEEEEEEEET!!!!!!!!!!!!!!!
I hope your kidding, if not sorry man!...And good idea I can't wait to get in on it!!
Agreed!!!!!!!!
Yeah I'm sure all the news will be good, but just in case cross your fingers with me! HA!
Just found this...take a look:
Total revenue for the first quarter of 2010 grew 106 percent to $1,885,802 compared to $915,543 in the first quarter of 2009.
Sounds promising!
Thanks!!!
Yeah I agree this should be a good week for us!
That's great to know! It makes me feel more comfortable buying in then. Thanks a bunch!!
Thanks I'll try to remember that I always get nervous but I'm getting better. Wish me luck!
Look at this:
Forterus Inc. and its subsidiaries engage in diverse business activities, including alcohol rehabilitation, and finance.
Thanks! And yeah I'm crossing my fingers for it!