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The Graystone Company (GYST) Announces Launch of Retail Gold and Precious Metals Division

Date : 01/17/2012 @ 8:00AM
Source : Business Wire
Stock : (GYST)
Quote : 0.3 0.02 (7.14%) @ 10:37AM

The Graystone Company (OTC Bulletin Board: GYST), announced today that it has launched its retail gold and precious metals division, Graystone Gold and Precious Metals. The division will be selling precious metals directly to consumers through its website www.GraystoneGold.com. The Company will initially focus on selling gold and silver bullion.

The Company intends to vertically integrate its business from producing gold and precious metals from its own mines to being able to sell directly to consumers and jewelers. Selling gold and silver through its retail division allows the company to increases 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 will initially purchase gold and the other precious metals from wholesale sources until the Company's mining operations begin producing sufficient ore.

"This is just our first step in vertically integrating our business, " said Paul Howarth, managing director of The Graystone Company. "Our focus is to bring our mining operations online and to generate revenue as quickly as possible. The retail division allows the Company to begin generating revenue almost immediately. We expect to grow the retail business over the next 8-12 months while we are building out our mining operations. At which time, we can begin selling the gold and silver we produce directly to consumers and jewelers."

The division's website is still in its beta testing phase and expects to go live on February 1, 2012. During the beta testing phase, the Company will limit its transactions to 1 ounce silver, 1 gram gold and 1 ounce gold bars.

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.

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