The Graystone Company, Inc. GYST
We first talked about GYST back on August 14th. At the time, the stock was trading as low as .0135. By the very next day, it had surged ahead to .034, gaining 152% and landing us a spot on Penny Stock Rumble‘s top gainers list. Following the large run-up, we saw a big consolidation out of GYST, drifting as low as .0033 where it found support at the outset of this month.
Today’s high of day .0114 falls at a key level of resistance (the 20DMA), and it appears that the upward momentum is receiving a boost from today’s impressive PR regarding increased sales by the company’s retail arm:
LIMA, Peru, Sep 12, 2012 (BUSINESS WIRE) — The Graystone Company (OTCQB: GYST) announced today that the Company’s retail sale of gold and silver increased by 341% in the month of August. The Company’s sales in August were greater than the rest of the year combined. As such, the Company is investing additional resources to continue to expand and grow this division.
“We are still in the beginning phase of vertically integrating our business,” said Paul Howarth, CEO of The Graystone Company. “Our focus is to bring our mining operations in Peru online as quickly as possible. However, the Graystonegold.com retail division’s sales have become very helpful in providing operating cash flows while the company completes the build-out of its mining operations. In fact, the retail division has grown faster than we expected – we sold more gold and silver in August then the rest of the year combined and we look forward to continued growth the rest of the year.”
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. The Company sells gold and silver to retail buyers via www.graystonegold.com.