|By Marketwire .||
|June 26, 2012 06:56 PM EDT||
NEW YORK, NY -- (Marketwire) -- 06/26/12 -- The Graystone Company (OTCQB: GYST) (PINKSHEETS: GYST), a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties, has announced that they have sold nearly 100 ounces of gold and silver directly to consumers and jewelers, helping boost their profit margins by 15-20%.
Selling gold and silver through its retail division allows the company to increase 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 add an additional $200,000 to their annual sales by year end.
In a Wall Street Journal article yesterday, gold prices are expected to stabilize due to India's gold demand reviving after a prolonged slump. "Gold demand could be anywhere between 750 and 800 metric tons this year," Bombay Bullion Association President Prithviraj Kothari stated. Increased demand from the world's number two gold consumer could help gold exploration and mining companies like Graystone, AuRico Gold (NYSE: AUQ), New Gold (NYSE Amex: NGD) and Brigus Gold (NYSE Amex: BRD).
To read more on Graystone, please visit www.graystone1.com
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