Greystar Share Discussion Threads

[gardenboy] 28/10/2004 21:25

GSL presenting at the 19th Minesite Forum next Tuesday,

2004: Nov 2 : Great Eastern Hotel, London, UK
19th Minesite Mining Forum Tel [phone]

[shoggoth] 27/10/2004 07:43

$3.10 is roughly #1.37p, 10% discount to current price.

[jumbo66] 27/10/2004 07:10

FOR: GREYSTAR RESOURCES LTD.

TSX SYMBOL: GSL

October 26, 2004

Greystar Resources Ltd.: Private Placement of up to Six Million Units at a Price of CDN$3.10 Per Unit
for a Total of CDN$18,600,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2004) - Greystar Resources Ltd. (the "Company")
(TSX: GSL)(AIM: GSL & GSLa) announces that it has appointed Jennings Capital Inc., Toronto and
Calgary, Canada and Ocean Equities Limited, London, England (collectively, the "Agents") to act as its
agents to use their best efforts to procure subscribers, on a private placement basis, for up to six
million Units at a price of CDN$3.10 per Unit for a total of CDN$18,600,000.

Each Unit will consist of one common share and one half of one transferable common share purchase
warrant. Subject to the acceleration right described below, each whole warrant will entitle the holder
to purchase one common share at a price of CDN$4.00 per common share for a period of 24 months from
the offering closing date. If, at any time following expiry of the four month hold imposed under
Canadian securities legislation, the closing price of the Company's common shares is above CDN$5.00
for 20 or more consecutive days, the Company has the right, on notice to the warrant holders, to
accelerate the expiry date of the warrants to 20 business days following the date of such notice.

The Agents have the option, exercisable at any time up to 48 hours prior to the offering closing date,
to increase the size of the offering by up to an additional one million units for an additional
aggregate gross proceeds of up to $3,100,000.

The Agents will be paid a cash commission equal to 6.5% of the gross proceeds of the offering. In lieu
of 1.5% of such commission, Ocean Equities Limited may elect to receive warrants to purchase 50,000
common shares for each 1 million Units sold by it. Such warrants will be exercisable at a price of
$3.35 per common share for a period of 24 months from the offering closing date. The Agents will also
be issued brokers warrants entitling them to purchase that number of common shares equal to 6.5% of
the number of Units sold. These warrants will be exercisable at a price of $3.35 per common share for
a period of 24 months from the offering closing date.

The proceeds from the offering will be used to advance the Company's Angostura project in Colombia to
feasibility, for exploration and for general working capital.

Application will be made to admit the common shares to be issued pursuant to the offering to trading
on the AIM market. The private placement is subject to approval by the Toronto Stock Exchange.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Greystar Resources Ltd.
Mr. David B. Rovig
President
[phone]
Website: www.greystarresources.com

No Stock Exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news
release.

-0-


Greystar Resources Ltd.

[rambutan2] 26/10/2004 16:22

also worth noting that better off buying gslA as these are trading a few pence cheaper. only difference to gsl that i can see is that they not tradeable in canada until 4 months after the aim float.

[rambutan2] 26/10/2004 16:09

and, the main reason for the shape of the above graph.

[shoggoth] 26/10/2004 16:04

Very true!

[rambutan2] 26/10/2004 16:00

also importantly, this a punt on the political situation in columbia.

[shoggoth] 26/10/2004 15:52

Initiate, I will avoid that question if you don't mind. This is a pure punt on a company highly leveraged to the price of gold. They are at a very early stage of exploration. They have cash to be going on with. They are also listed in Canada, where investors are aware of gold, so the share price will react to news. Mines are valued according to their known resources. We don't know the resource size, so the value is very speculative. Further progress would involve further fundraising, and if it is worthwhile (bonanza grab samples make this more likely) then it is multiples of the current level. Worth a small punt IMO if you have spare cash you don't mind being tied up for a few years.

Was looking at these sub-95p and couldn't make a case. Someone obviously got wind of the samples from Angostura. Bitter? No - look at the 5 year graph. We are on a 4-year upward curve.



Regards,
Pete

[initiate] 26/10/2004 14:42

Hasn't this gone up a lot already ? Do you guys have a target price ?

[shoggoth] 26/10/2004 09:31

Yes, excellent grades, but over a small width.
Market makers trading at 153p. There is a shortage of stock.

[gardenboy] 26/10/2004 09:23

shoggoth,

great news, these are excellent high grades and they are doing wonders for the share price - hope it's not just a case of cherry picking though.

[shoggoth] 26/10/2004 08:28

Because of this:


TSX SYMBOL: GSL

October 25, 2004

Greystar Resources Ltd.: Tunnelling Confirms Bonanza Grades at Angostura

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 25, 2004) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL;GSLa) is pleased to report that underground exploration has encountered a high-grade shoot returning 242 grams gold per tonne over 0.4 metre in the Peresoza area of the Angostura deposit in northeastern Colombia.

The bonanza grade shoot, which was discovered while sampling the north cross cut in the area of veins 28 and 52, corresponds to the high-grade shoot that yielded an impressive 60.7 grams gold per tonne over 5.4 metres in hole ULP04-02 reported on October 13, 2004. Adjacent underground samples collected by Greystar also contained up to 15.55 grams gold per tonne.

This mineralization is associated with a fault intersecting a series of coalescing veins (27, 28, 52 and 355). Previous drill holes hitting the shoot include hole DM03-03, which returned 21.7 grams gold per tonne over 0.55 metre, hole IF99-02, which hit 10.94 grams gold per tonne over 1 metre and hole LP04-06, which cut 56.8 grams gold over 0.5 metre within a broader zone of 6.51 grams gold per tonne over 12.95 metres. (continues)

[gardenboy] 26/10/2004 00:06

9% up in Canada tonight

[gardenboy] 21/10/2004 20:20

re your edit - only just put your minesite link in header !

[gardenboy] 21/10/2004 20:15

many thanks rb2, nice to have you on board!

A very interesting link - I have put it in the header.

Seems quite a lot will depend on political stability in Columbia for this to be a major success.

Incidentally, a strong rise in this stock doesn't show on the ADVFN Top Risers list so not caught much attention recently.

Also, you might like to look at HMB, another gold stock with little following as yet but which could be a nice little nugget to stash away for the future.

regards gb

[rambutan2] 21/10/2004 18:58

thought id join you gardenboy.


edit:
oops, i missed it in the header. but perhaps you could also stick this useful rns search in there to?

regards
rambutan

[gardenboy] 18/10/2004 21:03

another strong rise in Canada tonight

[gardenboy] 18/10/2004 21:02

Company Overview

Greystar is a development stage company engaged in the acquisition and
exploration of resource properties. Greystar's primary activity is the
exploration and development of the Angostura Gold-Silver Project in 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.




company website




Greystar also trades on the TSX in Canada under the symbol GSL (so can be put in an ISA)