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(GSL.L) Greystar Resources Ltd Buy/Sell
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| Date/Time | Headline | Source |
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| 02-11-09 | RNS |
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FOR: GREYSTAR RESOURCES LTD. TSX, AIM SYMBOL: GSL November 2, 2009 Recognizing Higher Long Term Gold Outlook, Greystar Resources to Consider Alternative Processing Methods to Boost Economic Returns From Intermediate Sulphide Ore at Angostura VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2009) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL) (the "Company") announced that the Company will initiate a program of metallurgical testing aimed at investigating the application of agitation leach and/or pre-oxidation as processing methods for intermediate sulphide ore at its 100% owned Angostura gold-silver deposit. Initial testing from both processing methods have shown promising results and further testing is warranted. In the Preliminary Feasibility Study published in May 2009, the intermediate sulphide ore (representing approximately 17% of the recovered gold in the mine plan) was designed to be heap leached which resulted in low recoveries of precious metals. Recent column testing using the intermediate sulphide ore to simulate heap leach conditions have returned recoveries that question the economic viability of only using heap leaching on this ore type. It is important to point out that column testing to simulate heap leach conditions on oxide and transitional ores continue to show very positive results. In addition, flotation testing for treatment of the higher grade sulphide ore to produce a gold bearing concentrate also continues to show excellent results. Given the improvement in the long term outlook for gold, the Company believes that the intermediate sulphide ore may be able to support a more robust processing method which may lead to higher economic returns for this ore type. The agitation leach and pre- oxidation testing programs will take approximately six months to complete, as such the Bankable Feasibility Study is now expected to be completed in the second half of 2010. The Company will continue with the design of the heap leach facilities for treating oxide and transitional ore as well as the grinding and flotation circuit for the higher grade sulphide ore. David Rovig, President & CEO commented, "Our Preliminary Feasibility Study was based upon $700 per ounce of gold during the first three years of operation and $650 per ounce of gold for the remaining twelve years. These gold prices limited our options for processing of the intermediate sulphide ore at Angostura which contains approximately 2 million ounces of gold. In the current gold environment, both agitated leach and pre - oxidation offer to increase recoveries and improve the economics of this ore type and the project as a whole. If either process is adopted, design modifications such as the inclusion of a tailings impoundment would need to be incorporated in the Bankable Feasibility Study. While this testing will delay the project, the Company will continue to move forward with all other aspects of the project including geotechnical evaluations, social and environmental studies, permitting, infrastructure construction and project finance." About Greystar Resources Ltd. Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life. Forward-Looking Statements Certain statements in this press release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding the anticipated effect of the new appointments, estimated annual production and estimated mineral resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, government regulation as well as other risk factors set out under the heading "Risk Factors" in the Company's final short form prospectus dated September 22, 2009 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Greystar Resources Ltd. - Contact in North America Mr. Geoff Chater, VP (604) 614-7830 www.greystarresources.com
OR NCB Stockbrokers Limited - Contact in London Christopher Caldwell +44 (0) 20 7071 5200 Christopher.Caldwell@ncb.ie Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release. -0- Greystar Resources Ltd. More |
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| 19-10-09 | RNS |
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FOR: GREYSTAR RESOURCES LTD. TSX, AIM SYMBOL: GSL October 19, 2009 Greystar Resources Announces Intent to Apply for a Secondary Listing in Colombia VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2009) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) is pleased to announce that it has appointed Citivalores S.A. Sociedad Comisionista de Bolsa in Colombia to advise the Company on the listing of its shares on the "RNVE", the Registro Nacional de Valores y Emisores in Colombia, as well as on the "BVC", the Bolsa de Valores de Colombia. Both listings will qualify as secondary listings, and the Company's primary exchange will remain the Toronto Stock Exchange. The Company shall also retain its listing on AIM. If these applications are accepted, the dual listings will enable the Company to expand its institutional and retail shareholder base in Colombia where it is developing its Angostura gold-silver deposit. The Company does not anticipate making an offering in conjunction with these listings and therefore there will be no dilution to existing shareholders. David Rovig, Chief Executive Officer, commented: "We believe that this listing is important, as it will allow Colombians to participate in the development of the multi-million ounce Angostura gold and silver deposit. It is our hope that pension funds and individual investors in Colombia will see an investment in Greystar as an opportunity to support their own economy through the responsible development of the country's natural resources." The listing on the BVC will be subject to the local regulations applicable to foreign issuers, issued by the Superintendencia Financiera de Colombia, BVC, Central Depository System (DECEVAL) as well as any other regulation or authority that should apply to this transaction. The application process is expected to take approximately three months, following the completion of all regulatory steps. All reporting and disclosure regulations, including corporate governance, voting rights and proxy voting will be in accordance with Canadian and Colombian regulations, as applicable to foreign investors. Greystar Resources will appoint a depository agent in Colombia to maintain shareholder records and this agent will be responsible for dividend payments, if any, and all other matters regarding shareholder rights, as determined by the company's shareholders. About Greystar Resources Ltd. Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life. Forward-Looking Statements Certain statements in this press release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding the intention to make application to list the Company's shares on the RNVE and BVC, the time required to complete such applications, the anticipated effect of such listings, anticipated annual production and estimated mineral resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, the Company's ability to meet listing requirements, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, government regulation as well as other risk factors set out under the heading "Risk Factors" in the Company's final short form prospectus dated September 22, 2009 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Greystar Resources Ltd. - Contact in Canada Geoff Chater VP Corporate Development (604) 614-7830
OR Greystar Resources Ltd. - Contact in Canada Mr. Andreas Curkovic Investor Relations (416) 577-9927 www.greystarresources.com
OR NCB Stockbrokers Limited - Contact in London Christopher Caldwell +44 (0) 20 7071 5200 Christopher.Caldwell@ncb.ie Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release. -0- Greystar Resources Ltd. More |
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| 13-10-09 | AFX UK Focus |
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Oct 13 (Reuters) - Greystar Resources Ltd:
secured ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 13-10-09 | RNS |
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FOR: GREYSTAR RESOURCES LTD. TSX, AIM SYMBOL: GSL October 13, 2009 David Rovig to Retire as President and CEO of Greystar Resources Will Assume New Role as Chairman of the Board of Directors VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 13, 2009) - Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) announced that David Rovig will retire from the positions of President and Chief Executive Officer of the Company. Mr. Rovig will be appointed to the new position of Chairman of the Board of Directors where he will continue a guiding role in the development of Greystar Resources. Greystar has engaged an international executive search firm to identify a candidate to fill the vacancy. Mr. Rovig will continue as President and CEO until a replacement has been secured. David Rovig, commented, "I have served as President of Greystar for 15 years and I am very proud of the accomplishments that we have achieved during that time in Colombia. As Greystar moves from a developer to a producer, it is time to pass the leadership role on to a new generation who will move forward with the construction of the Angostura gold-silver project. I am committed to see Angostura developed in a responsible and sustainable manner. Angostura will provide an important economic engine for Colombia providing employment for the local people, support for local businesses as well as a solid tax base for the National and Provincial Governments. Development of Angostura and its environs also portends a bright future for Greystar and its shareholders. As Chairman, I look forward to working with the Board of Directors to realize the full potential of the Company." About Greystar Resources Ltd. Greystar Resources Ltd. is a precious metals exploration and development company that is currently completing a feasibility study on its wholly owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. A positive prefeasibility study announced on March 25, 2009 envisions average annual production at Angostura of 511,000 ounces of gold and 2.3 million ounces of silver over a 15 year mine life. Forward-Looking Statements Certain statements in this press release are "forward-looking" within the meaning of Canadian securities legislation. They include statements regarding the use of proceeds of the financing and estimated mineral resources. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, fluctuations in the price of gold and silver, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, government regulation as well as other risk factors set out under the heading "Risk Factors" in the Company's final short form prospectus dated September 22, 2009 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Greystar Resources Ltd. - Canada Geoff Chater VP Corporate Development (604) 614-7830
OR Greystar Resources Ltd. - Canada Mr. Andreas Curkovic Investor Relations (416) 577-9927 www.greystarresources.com
OR NCB Stockbrokers Limited - London Christopher Caldwell +44 (0) 20 7071 5200 Christopher.Caldwell@ncb.ie Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release. -0- Greystar Resources Ltd. More |
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| Date/Time | Subject | Author | ||
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| 25-03-08 | ||||
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March 25, 2008
Greystar’s David Rovig Knows The Value Of Nose-Rings And Much Else Besides By Alastair Ford “At the end of the day”, says Greystar president David Rovig, “gold is what all currencies are measured at”. That sounds like the start of a very interesting debate, part economic, part philosophic, in which the merits of the world’s relative measures of value are called into doubt. Just what is a currency worth? Perhaps it’s simply what you can buy with it? But trade currencies and then travel across the Atlantic in either direction, and you’ll notice that the price you paid for the money is in no way relative to its purchasing power at your point of arrival. And it’s no accident, either. It’s a deliberate policy of the Fed. So if the Fed is messing with the folding stuff in our wallets, isn’t it worth considering holding a bit of the yellow metal ourselves, just to be on the safe side? And isn’t it the case that dollars are in fact priced in gold, rather than the other way round? It would certainly be a fillip for fans of the long abandoned Bretton-Woods agreement if that were so. So if gold is still the real store of value, just as it’s always been, then what better business to be in than making margin mining it out of the ground? That’s a quick in-the-pub-version of the classic gold bug argument, and, although trained economists can pick holes in it quite easily, the strength of the gold price at the moment is making more noise than any negativity from proponents of the dismal science. Because there’s a further point to be made about gold - it’s easy to understand. Gold is a metal that comes out of the ground. It’s simple. It’s not a credit derivative, or an equity with a nominal valuation quite different from its real one, it’s not something you can print or issue more of on a whim, or manipulate interest on, or re-package and re-sell, and underwrite under another name. So far there haven’t been any bankers who’ve gone bust going long on gold. And David Rovig makes a further interesting observation: “the price of gold nose-rings”, he says, “is up by only a tiny amount”. In other words, the consumer buys gold in such small quantities that, although the price rises do get passed on, the current strength in the gold price doesn’t hurt him or her in the same way as a strong or a weak currency might, or higher or lower interest rates might. Or the credit crunch might. Even if the price of nose-rings is not something that one would think would have an immediate impact on Greystar Resources, all this wends its way back to a simple fact about the company: it’s sitting on 10.15 million ounces of gold measured and indicated up at its Angostura project in Columbia. There’s a further 3.4 million ounces in the inferred category. That’s a resource base that most juniors with an Aim-listing in London can only dream about. It’s reasonably impressive for Toronto too. And the discovery cost per ounce isn’t bad either – US$4.20. Compare that to a gold price dancing around US$1,000, and you can see why Mr Rovig likes talking about gold, nose-rings or otherwise. He’s got to get the money to dig it up, of course. But Greystar’s long-standing London broker Ocean Equities is pretty confident that finance can be found. It could hardly be otherwise. With the notable absence of RAB, Greystar boasts almost every big London name on its share register, not to mention a few impressive North American ones. Any equity raising ought to be a walk in the park, even with the current market jitters. And banks must be falling over themselves to back gold projects, for the very reasons outlined above. Still, that’s all a little way away. Mr Rovig reckons he’ll need an initial US$350 million to get a heap-leaching operation up and running, and a further US$100 million to put in a biox and leaching facility to process some of the more recalcitrant ore. The second, however will more than likely be financed by cashflow from the first. A . . . Read Full Message More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 25-02-08 | ||||
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Greystar Feasibility Study Progresses in Colombia
By Andrew K. Burger 24 Feb 2008 at 11:20 AM GMT-05:00 BAKU, Azerbaijan (ResourceInvestor.com) -- The pieces are coming together for Greystar Resources [TSX:GSL; AIM:GSL] as it moves towards completing a feasibility study for the Angostura deposit in northeastern Colombia. Progress is being made regarding efforts to determine and evaluate metallurgy, rock mechanics, environmental monitoring and infrastructure requirements, as well as strengthening community relations, according to a Feb. 20 media release. Aimed at upgrading intervals of higher grade gold-bearing ore from the Indicated to Measured Resource category Greystar is carrying out a 40,000 metre in-fill diamond drill program in selected areas, an effort that is expected to be completed in Q3 2008. Tonnage estimates at Angostura increased 8.4%, gold grades rose 2.6%, and Measured and Indicated Resources increased 11.1% following the completion of a similar effort within the core of the deposit’s Perezosa tunnel in 2006, Greystar executive vice-president Frederick Felder, noted in the release. “The current drill program is in the early days but the values from the late 2007 in-fill drill program are showing confirmation of the continuity of higher-grades with hole DM07-12 returning 13.87 grams gold per tonne over 5.25 metres and 17.24 grams gold per tonne over 5.4 metres,” he added. Opening Up Angostura Greystar holds mining concessions covering just over 30,000 hectares in northeastern Colombia near the Venezuelan border 55 kilometres by road from Bucaramanga, a city of approximately one million people. Management has steadily and in a cost-effective manner been defining and expanding Angostura’s gold and silver resources. Nearly 267 thousand metres of drilling has been completed as of February. Inferred Resources were converted to the Indicated Resource category at a 246% rate between 2004 and August 2006 at a cost of C$4.20 per ounce. According to a December 2007 resource estimation update, Angostura hosts an NI 43-101 compliant Measured Resource of 88.49 million tonnes of gold and silver grading 0.79 grams and 4.0 g/t, respectively, and an Indicated Resource of 145.826 million tonnes grading 1.69 g/t gold and 8.0 g/t silver. This translates into 10.15 million ounces gold and 37.76 million ounces silver, which is contained in 234.32 million tonnes of material grading 1.35 g/t gold and 7.3 g/t silver, according to company information. An additional 3.43 million ounces of gold in 77.7 million tonnes grading 1.37 g/t is estimated and categorized as Inferred Resources. Latest results from the 25-metre interval in-fill drilling program also included 5.16 g/t gold over six metres, 3.72 g/t gold over 10.65 metres and 40.4 g/t gold over 3.85 metres. Higher grade intervals were not drilled to sufficient density in the company’s December 2007 resource estimate to qualify as Measured Resources according to NI 43-101 criteria. Some two-thirds of Greystar’s 2008 drilling program will be dedicated to upgrading and better defining these higher grade intervals, according to management. Determining Feasibility Drilling activities currently underway also aim to improve Greystar’s understanding of areas of the Angostura deposit outside Perezosa, as well as identify new targets. Underground development work at Perezosa includes more than 2,500 metres of drilling from 56 drill stations Underground work is progressing at Veta de Barro, where the deposit has been opened approximately 200 metres higher above the workings at Perezosa. Drilling has advanced 85 metres and a 158-metre pilot drill hole from within the drift has been completed. New target exploration is underway and the first drill hole testing to 409.1 metres has been completed at the Las Animas target approximately one kilometre south of the main Angostura deposit and the diamond drill rig is being moved 250 metres south. Moving to . . . Read Full Message More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 28-12-07 | ||||
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December 27, 2007
Greystar’s Angostura Deposit Is Of Size To Attract A Predator Back in 2004 when it was hardly a year old Ocean Equities acted for Greystar Resources when it decided to get a dual listing on AIM. Its reasoning was simply that London was more pragmatic about companies operating in Colombia than North Americans. Ocean Equities proved that it had the ability to pick clients as Greystar has gone from strength to strength over the intervening years and does not appear to have encountered any serious political problems in Colombia. The company’s focus is on the Angostura gold silver deposit in the north east of the country and it is now preparing for a feasibility study on what should prove to be a long life mine. In the last couple of days Greystar has come out with a revised resource estimate of 10.15 milion ozs gold and 49.84 million ozs silver in the measured and indicated categories. This is 37 per cent more than the indicated gold resource estimate at the end of last year and now represents 75 per cent of the total gold in the mineral resources. Frederick Felder of Greystar points out that “this new resource estimate continues to show the expansion potential of the very large Angostura deposit. The addition of measured resource estimates marks a milestone for the project and Greystar’s exploration team will focus on further expansion and upgrades at Angostura, with particular attention to lowering the waste rock ratio and examining a staged production scenario starting with the oxide mineralization and transitioning into the sulphide material all leading to a feasibility study starting in 2008”. Ocean Equities is clearly delighted with Greystar’s progress and highlights the fact that a significant portion of the previously indicated and inferred resource has moved into the measured category. This resource update includes results up to October from 717 drill holes totalling 244,443m and is an update from December 2006. During that time the resource in all categories has increased from 11.6 million ozs to 13.6 million ozs and it is worth noting that plenty of junior gold exploration companies have considerably less than 2 million ozs as a global resource so Greystar stands out as a success story on a world scale. The ounces in the measured and indicated categories now total 10.2 million ozs which is 75 per cent of the global resource, compared to 7.4million ozs which was only 64 per cent of the global resource previously. This greater confidence will improve the economics of the deposit as it is highly likely that a greater number of ounces will now be mineable than previously considered. The grades of the new resource statement are consistent with previous levels and the grade of the measured and indicated ounces is 1.35g/t, a negligible increase from the previous 1.33g/t and Ocean Equities is happy that the grade of the potential run of mine ore remains the same. The broker then goes on to say that more important for the economics of the project than the increase in total ounces is the increased numbed of ounces of oxide material, which is now 2 million ozs grading 1.07g/t in the measured and indicated categories compared to the previous 1.5million ozs at 1.13g/t. This increase of half a million ounces should have two very positive effects on the economics of the mine for two reasons. First, the estimated recovery from oxide material is 91 per cent as opposed to just under 80 per cent for sulphide material which means that a greater number of ounces will be recovered from the ore at no extra cost as the ore would be mined and processed in exactly the same way whether it was oxide or sulphide. Second, it is looking increasingly likely that the staged process of an oxide only operation moving to a full oxide + sulphide operation will be achievable, which will reduce the initial capital required for the project. Interestingly Greystar now seems to be trading at an enterprise value of US$ . . . Read Full Message More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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| 28-12-07 | ||||
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Colombia announces gold find that could double production by 2011
The Associated Press Thursday, December 27, 2007 BOGOTA, Colombia: Colombian authorities have announced a major gold find that would double the country's production of the metal by 2011 and which they claim could prove to be one of the 10 biggest deposits in the world. A foreign mining company uncovered the deposit and informed the government, which announced the discovery last week but said details would not be released until February. But President Alvaro Uribe appeared unable to hide his excitement last week. "How am I going to keep a secret this big until February?" Uribe asked in a Dec. 20 speech, revealing that Mining and Energy Minister Hernan Martinez had that morning told him of the discovery, which will require an initial US$2 billion (€1.38 billion) investment and will double the nation's gold output by 2011. Authorities didn't give the name of the foreign mining company, but Bogota's El Tiempo newspaper reported that the deposit is in the central state of Tolima, and was discovered by Johannesburg-based AngloGold Ashanti Ltd., one of the world's largest gold producers. Charles Carter, spokesman for the company, on Thursday confirmed that the company has an active exploration program in Colombia, but declined to comment on El Tiempo's report, saying it was "premature to discuss" any of the company's specific findings. AngloGold Ashanti has projects in 10 countries on four continents, including the U.S., Brazil, Russia and China, its Web site states. The company has been actively exploring for gold in Colombia since 2000, and has two large drilling projects in the country's center, along with six other "early-stage" projects. High gold prices, which have nearly tripled in the last ten years, are pushing mining companies to boost exploration efforts, the Bogota-based newspaper said. But in Colombia, yearly gold production fell by more than half last year to 15.7 tons from 37.7 tons in 2005, El Tiempo reported, citing the nation's mining institute, as attacks and harassment by leftist rebels forced many mines to close. More | View thread (1) | Respond | Login to Vote up | Login to Vote down |
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