¡Hay Oro En Ellos Colinas! The penny stock of The Graystone Company (Pinksheets: GYST) has not been actively trading for very long, but today could see some major activity. GYST closed at a nickel Thursday on volume of just 77,187. The company announced today the acquisition of a second lease in Peru (Graystone II) estimated to contain roughly 20,000 ounces of gold. GYST stock price could see a massive intra-day jump and is worth a close look at the open today.
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GYST Stock Chart One Month
Market Cap: 9.64M
Avg Vol (3 month): 178,416
Avg Vol (10 day): 136,462
Class A: 67,778,452
Class B: 5,000,000
Peru is currently being mined by companies like Newmont Mining (NYSE: NEM), Entrée Gold (NYSE MKT: EGI) and Gold Fields Ltd (NYSE: GFI). Peru is the world’s largest producer of silver, 3rd largest of copper and 5th largest of gold. Accounting for around 33% of the country’s export revenue, Peru is by far the largest producer of gold in Latin America.
This newest acquisition comes on the heels of the company’s announcement of their Gorila (Graystone I) site in Peru. Based on these initial ranges the Company is estimating that the amount of gold on the Gorila (Graystone I) site could be in excess of $100 million.
GYST Share Structure
• On March 27, 2012, The Company’s board of directors and majority of its Class A Common Stock holders approved a reverse split of 400:1 for all shares issued and outstanding
• On May 10, 2012, the Company issued 30,000,000 shares of its Class A Common Stock to Renard Properties, LLC in exchange for $40,500 (or $.00135 per shares)
• On May 10, 2012, the Company issued 30,000,000 shares of its Class A Common Stock to WTL, Inc. in exchange for $40,500 (or $.00135 per shares)
• On May 14, 2012, the Company issued 1,800,000 shares of its Class B Common Stock to Renard Properties, LLC in exchange for $10,000
• On May 14, 2012, the Company issued 1,800,000 shares of its Class B Common Stock to WTL Group, Inc. in exchange for $10,000
• On May 14, 2012 the Company’s previously announced 1:400 reverse stock split of the Company’s Class A Common Stock became be effective
About GYST Stock
The Graystone Company, Inc. was originally incorporated in the State of New York on May 27, 2010 under the name of Argentum Capital, Inc. They reincorporated in Delaware in 2011 and changed their name to The Graystone Company. Graystone is a holding company whose primary operating activities involve acquiring and developing mining properties amenable to low cost production. In January 2012, the Company launched a new division that sells gold, silver and other precious metals to retail buyers. The Company its corporate headquarters are located in Lima, Peru and maintains it US executive office in Las Vegas, Nevada for mailing purposes.
To view the SEC filings for GYST, click here.
Bottom Line: GYST should be on the list of penny stocks to watch for the first 5-15 minutes of today’s trading session. Any significant volume above 100,000 shares within that time is indicative of a breakout session occurring since the D was recently removed from the trading symbol after the reverse split. If it trades heavy, swing it and book profits before the closing bell.
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