Business
Graystone June Production and Revenue Update
Graystone June Production and Revenue Update.
About this update from The Graystone Company, Inc.
[{"type":"text","content":"\n \n The Graystone \n Company (OTC: GYST) announced today that the Company’s mining operations \n has generated approximately 936 grams of gold during June 2014. This \n represents the best month of Gold production for the Company. The \n company also announced its unaudited gross revenue for Q2 2014 was \n $123,611.00 from all of its mining sites, including its successful \n copper campaign #1. That is an increase over the company’s Q1 2014 \n unaudited gross revenue of $30,187.50. The Q2 monthly revenue breakdown \n is as follows:\n \n \n April - $25,375.00, May - $27,035.00, June - $71,201.00*\n \n \n * (This number includes its first time copper sale in June 2014.)\n \n \n Peru Copper Update:\n \n \n On Monday, June 30th, 2014 the company starting testing ore from the new \n area of its current copper project and sent samples to a local lab in \n Nazca, Peru. The company is extracting samples at different depths of \n the new area and will compile a blended analysis of the sample results.\n \n \n The Company has completed the mine maintenance work for its copper \n campaign #2. The company anticipates the mine will be back in production \n on or about July 11, 2014.\n \n \n The company also announced it has agreed to a new Joint Venture with an \n adjacent claim owner/ operator on the same mountain peak as its current \n copper project. The terms are as follows. Graystones subsidiary, Grupo \n Mineral Inca, SAC (GMI) will purchase raw ore from the already producing \n copper mine direct from their mining site at a pre-negotiated discount, \n after taking samples to its Nazca lab to analyze purity. This will \n enable the mines current producer to improve their current cash flow and \n save them the upfront cost of tucking and processing the ore. In return, \n GMI will receive a 35 percent discount on the value of the raw ore pre \n processing. GMI will receive all of the proceeds of the ore sale, post \n processing, when the concentrate has a greater value and profit margin. \n The mine producer currently pays a 50 percent discount when selling its \n ore to regional ore brokers. The company is also looking at purchasing \n ore from other producing mines at similar discounts.\n \n \n “The purchase of raw ore is currently a thriving business in Peru. \n Depending on our cash flow, we intend on pur...