Jun 27 2012
The Graystone Company announced today that its retail division www.Graystonegold.com has sold nearly 100 ounces of gold and silver to date this year. Graystonegold.com was launched in January 2012.
“The company expects to continue its retail operations and expects to sell up to an additional 100 ounces of precious metals before year end, adding approximately another $200,000 to GYST's annual sales in 2012”
Graystone Gold was launched to vertically integrate the Company's 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 their ore to refineries for 5-7% below spot price. However, by selling the gold and silver retail the Company can sell the gold and other precious metals for 10-15% over spot. The Company expects to grow the retail business over the next 12 months while operations on our mining properties are continuing to be built.
"The company expects to continue its retail operations and expects to sell up to an additional 100 ounces of precious metals before year end, adding approximately another $200,000 to GYST's annual sales in 2012," stated Paul Howarth, President of The Graystone Company. Mr. Howarth continued: "The Graystonegold.com retail division's sales have become very helpful in maintaining adequate operating cash flows while the company completes the build-out of its mining operations. In fact, the retail division has grown faster than expected and we are in the process of revamping our website to better serve our clients."
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.
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