LIMA, Peru--(BUSINESS WIRE)--
The Graystone Company (GYST) announced today that the Company’s mining operations in Peru has transported approximately 180 tons of copper ore to the processing plant. Once the Company has transported 200 tons of copper ore, the processing plant will begin to process the ore. The Company expects to have the 200 tons delivered to the processing plant in the next 10-14 days and expects the processing to take 7-10 days.
Pursuant to the terms of the joint venture, the Company will receive all monies paid for operations from the gross dollar amount received from the sale of the copper prior to any distributions made to the joint venture partners. The Company will update shareholders once the processing of the copper ore has been completed.
On March 29, 2014 the company started testing the high-grade ore and sent samples to a local lab. The initial results received on March 29, 2014 indicated the Company’s high-grade copper ore samples contained 6% copper. On April 1, 2014 the Company received additional lab reports showing the samples contained a high level of 23.1% copper and a low level of 14% copper. The company was only expecting 2.5% - 3.0% copper level. A laboratory in Peru performed the analysis.
Copies of the lab tests can be found on the OTC markets website.
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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