Greystar Share Discussion Threads

[lasata] 20/11/2005 21:53

The Independent:

At the smaller end of the mining world, the record gold price pushed Golden Prospect 2p higher to 51.25p and Peter Hambro Mining up 17.5p to 825p. Grey Star Resources, which has a multimillion-ounce gold deposit in Colombia, improved 33.5p to 358.5p.

[wassapper] 18/11/2005 19:48

Come on you Canuks, buy more. Gold is going to $500 plus. Not many multi-million ounce gold plays for the majors to buy.

[bionicdog] 18/11/2005 16:17

Told you were owed a bit more :o)

[sandbank] 17/11/2005 22:14

Crikey - that was a powerful rise at the end of the day.

[bionicdog] 17/11/2005 19:58

Currently up 10% on TSE (was up 5% yesterday) , we have a bit of catching up to do.

[bionicdog] 17/11/2005 15:56

GSL up on TSE and POG going loopy all bodes well.

[rambutan2] 12/11/2005 20:52

and jennings 402p includes a 30% colombia discount.

says that ocean has estimated mining costs at $200 per ounce.

[wassapper] 11/11/2005 19:57

402p !!!! Double it, but I guess not in a straight line. I guess we will have a drilling report soonish

[gardenboy] 11/11/2005 10:30

IC buy article mainly covers old ground but quotes Jennings Capital price target of 402p and that Mirabaud Securities believe there to be exceptional exploration potential and further upside.

[lasata] 11/11/2005 10:22

Latest RNS. GSL management are good at updating on progress.

Greystar Adds to Angostura Management Team

FOR: GREYSTAR RESOURCES LTD.

TSX, AIM SYMBOL: GSL

November 8, 2005

Greystar Adds to Angostura Management Team

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2005) - Greystar Resources Ltd. (TSX:GSL)(AIM:GSL)
reports that the success of the 2005 drill program on its wholly-owned Angostura gold-silver deposit
in northeastern Colombia has prompted an acceleration of activities on several fronts.

In order to support the increased activity, Greystar is pleased to announce additions to its senior
staff. Mr. Edwin Restrepo has joined Greystar as General Manager of the Angostura Project. Mr.
Restrepo is a mining and metallurgical engineer with extensive resource experience, having worked in
both the gold mining industry and the petroleum sector in Colombia, Peru and Bolivia. In addition, Mr.
Luis Guillermo Laserna has joined the Company as manager of personnel and social programs. Mr.
Laserna, a labor lawyer, comes from the oil sector, where he has worked with companies such as
Occidental Petroleum. Both will be working in Greystar's Bucaramanga, Colombia office.

Metallurgically, the multi-million ounce Angostura deposit, which has more than doubled in the
indicated resource category since 1999, lies in a climate very favorable for low cost heap leaching
extraction methods but like most large systems, the degree of gold and silver recovery is dependent on
mineralogy and appropriate metallurgical processes. The Angostura deposit hosts varying styles of
mineralization both vertically and locally, all of which need to be adequately tested to determine the
optimum recovery methods. In a broad sense, the deposit comprises oxide, mixed oxide - sulphide,
shallow sulphide and deep sulphide mineralization, while locally the gold is hosted in a series of
over 145 vein structures that contain varying mineralogy at specific locations. In order to obtain a
greater understanding of the metallurgical traits throughout the deposit, a sampling program of 21
sites in oxide, mixed and sulfide zones in different domains of the Angostura deposit is being
completed. These samples will be shipped to Metcon Research, Inc. in Tucson, Arizona where
metallurgical studies will be conducted to determine which methods or combination of methods will be
preferred. Metcon recently completed a flow characterization study on a large low grade sample from
the Perosoza Tunnel. The study's data will be incorporated into future metallurgical test work. In
addition some metallurgical studies will also be done at CIMEX laboratory in Medellin, Colombia to
complement the Metcon work.

Geologically, along with the on going drill campaign, a structural geology - rock mechanics specialist
is visiting the project. The objective is to train the geological staff on site and implement a
recording protocol for structural and rock mechanic information into the geological data base.

The tunneling program is progressing with 1,784.5 meters completed which is comprised of 1,035 meters
of drifting, 468 meters of cross-cuts, 126.25 meters in raises and 155 meters in establishing 13
underground drill stations. Work has also started on a second cross-cut near the central El Diamante
area designed to test the heavily mineralized area of the Shoot 11 structure.

A new large core storage warehouse that will also be used for sample preparation work is 70% complete,
and it should be put into service by the end of November. The camp facilities are also being expanded
to accommodate the increased professional work force.

Further advances continue to be made in the area of environmental studies with the Colombian firm LV
Ingenieria Ltda. being retained to carry out water base line studies in the various drainage areas
within, below and above the project site. A second set of such measurements was completed in October
following a first data set recorded in the month of May 2005. Greystar's surface exploration
activities are being conducted under an Environment Management Plan and the tunneling work is being
conducted under Mining Environmental Guides monitored by CDMB (Corporacion Autonoma Regional para la
Defensa de la Meseta de Bucaramanga), the environmental monitoring agency responsible for the region.

The Company is also continuing to work closely with municipal and departmental agencies and both local
and foreign NGO's to further programs in health, education and small business skills, as well as the
promotion of local business activities. As a policy only productive and self sustainable projects that
are the initiative of the community are supported. The role of Greystar is that of facilitator for
structuring of projects with the actual design being left to the community. One program called
"Abriendo Caminos" (Making Roads) was inaugurated in late September in collaboration with the
municipality of California and the Pastoral Social, the community program arm of the Roman Catholic
Church.

Based on the August 2005 resource calculation, the Angostura deposit contains 5.83 million ounces of
gold and 24.6 million ounces of silver within an indicated resource of 148.14 million tonnes grading
1.22 grams gold per tonne and 5.17 grams silver per tonne, plus another 4.47 million ounces of gold
and 21.5 million ounces of silver within an inferred resource of 123.3 million tonnes grading 1.13
grams gold per tonne and 5.42 grams silver per tonne using a cut off of 0.4 gram gold for oxide and
0.55 gram gold for sulfide (Press Release August 16, 2005). A location map of the Angostura drilling,
along with a map of the underground tunnel work, can be accessed from our home page link at Greystar's
website: www.greystarresources.com.

REVIEW BY QUALIFIED PERSON, QUALITY CONTROL AND REPORTS

The results of the Company's drilling program have been reviewed, verified (including sampling,
analytical and test data) and compiled by the Company's geological staff (which includes a qualified
person, Frederick Felder, P.Geo., for the purpose of National Instrument 43-101, which outlines
standards of disclosure for mineral projects).

The Company has implemented a quality control program to ensure sampling and analysis of all
exploration work is conducted in accordance with the best possible practices. Under these quality
assurance measures, drill core is sawn in quarters (HQ) or halves (NQ), with one quarter or one half
of the core samples shipped to ALS-Chemex Laboratory (ISO 9002 registered) in Vancouver, B.C. for
analysis. The remainder of the core is retained for future assay verification. Gold analysis is
conducted by fire assay (one assay tonne) using an atomic absorption finish. The laboratory reassays
using the ALS-Chemex protocol, and additional checks may be run on anomalous values. Greystar has
independent re-analysis and sample preparation checks run at other accredited laboratories. The
Company also introduces background blanks prepared from previously analyzed core samples from the
Angostura Project.

[lasata] 11/11/2005 10:04

Gardenboy: Can you post that IC article?

[lasata] 11/11/2005 10:00

Also see back page of FT. Goldcorp reckons best to buy exploration companies. ties in with post 226 above.

[gardenboy] 11/11/2005 00:11

wassapper,

hmm......"buy" tip in new issue if IC !

[wassapper] 10/11/2005 21:35

... interesting also that the price seems to be on the turn!

[gardenboy] 10/11/2005 21:28

interesting link below for generally positive overview of present situation for those investing in Colombia,



.......nice to see, for instance, that kidnapping is trending down !

[rambutan2] 09/11/2005 09:13

sort of general update/make sure the mkt knows what they up to/reasurance statement out. had quite a drop from recent highs so makes sound sense.

[firkin] 04/11/2005 10:22

SP down on dollar strength and small selling.
Gold price dipping but expected to reach $500 soon.
The major corporate action by Barrick has been ignored.
SP now 310/323p, having recently reached 405/420p.
This clearly is a big buy opportunity.
Any non-producing enterprise is high risk but the data
published to date shows much high grade deposits.
As with another potentially 'largest' gold mine in the world (NDM)
much patience is required.
I am intrigued by the fact that gold peaked out in the 70's at over $800 that now equates to $2,200 at today's inflated prices. Of course that was a bubble.
But as the price is currently around 460$ some catching up can be expected.
So it is right to be in gold or gold derivatives.
All very much caveat emptor.

[rambutan2] 04/11/2005 02:50

from a couple of week's ago...

Casey says pick up more Greystar -- or sell some
2005-10-24 20:31 ET - In the News

Douglas Casey, writing in the Oct. 1, 2005, issue of his International Speculator, refreshes his buy of Greystar Resources Ltd. at $8, while out of the other side of his mouth he says, "Prepare to take profits." Mr. Casey said buy in July, 2005, at $5.50. An investment of $1,000 at that time would be worth $1,408 today. The globe-hopping letter writer says Greystar is highly leveraged to gold through its 10.3-million-ounce Angostura gold deposit in Colombia. So far this year, the results from nine active drill rigs have been uniformly good and more of the same can be expected. Bonanza grade results are catching the eyes of both investors and the major mining companies most likely to make a run at the company. Over the short term, Mr. Casey says he expects Greystar to move up with the price of bullion, with explosive gains a possibility. A potential downside to the project is the considerable amount of metallurgical testwork that still needs to be completed. In addition, while things have improved in the country, Colombia's political risk is always there. Over all, he says, the risk-to-reward ratio favours owning Greystar, but you still might want to "take some off the table."


they been presenting here this week...

[rambutan2] 04/11/2005 00:05

am stumped myself?

[wassapper] 03/11/2005 19:30

What gives here with this price?

[wassapper] 20/10/2005 22:23

I have no clue - I refuse towork my way through all that stuff you posted! It's all guess work anyway. GSL have ot do step out drilling to extend the resource and then come up with a blinder of a resource statement to ive us in the region of 20m oz. If so we have one of the biggest mnes in the world. £500m will be a small price to pay. Let's hope for a gold price over $500 when the time comes.

[rambutan2] 20/10/2005 20:53

as at aim close (365p), mkt cap £136.466m undiluted.

with total of 4.777m options t/c. ie £17.44m.

which takes us to £154m fully diluted mkt cap.

yes?

[wassapper] 20/10/2005 15:33

more than appealing. It SHOULD get taken out at the for a market cap in excess of £550m. Current mkt cap is c£118 (not sure if fully diluted) so we have a four times multiple ahead of us taking something into account for dilution.

They could get c$100 per resource oz and c $70 per reserve oz. Say it is 10m and 10m. Gives a headline figure of $1bn plus c$700m. I doubt they they will get this for Columbia and they have little infrastructure. Reduce by 30% for country risk? and take off some eg $200m (high) for the project cost. Works out at about $1.1bn.