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%.
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