Greystar Share Discussion Threads

[gardenboy] 22/11/2006 08:56

yes, usual solid progress with the drill.

could it be that that they might sell Angostura and look at exploring a new area?

rebought a few recently.

[wassapper] 22/11/2006 08:40

Good progress once again - see drill report today.

Sometime soon they have to get a major invloved. This is so big that they are unlikely to be able to develop it themselves and I am not sure the management have the appetite for that.

[bionicdog] 16/11/2006 17:40

Only slightly relevant , but hey it's quiet on here.

[rambutan2] 13/11/2006 13:25

Scoping Study completes this month...

The previously announced Angostura Project Scoping Study, being prepared by International consulting firm, Hatch Ltd. ("Hatch") of Vancouver, is now underway. Commencement of the Study was delayed pending completion of a new resource study that became available near the end of July. An unintended benefit of the delay was the development of more metallurgical data that can be included in the study.

Hatch is now in possession of all metallurgical data generated to date, as well as all of the underlying and generative data provided in the recently released NI43-101 technical report, which primarily addresses the latest Angostura resources. Hatch expects to complete the scoping study in November.

Based on 161,710 metres of drilling, the July 2006 resource calculation for the Angostura deposit came in at 6.91 million ounces of gold and 31 million ounces of silver within an indicated resource of 166.4 million tonnes grading 1.31 grams gold per tonne and 6 grams silver per tonne, plus another 4.2 million ounces of gold and 17.6 million ounces of silver within an inferred resource of 83.3 million tonnes grading 1.57 grams gold per tonne and 7 grams silver per tonne using a cut off of 0.4 gram gold for oxide and 0.55 gram gold for sulfide (Press Release July 31, 2006). Resource estimation was undertaken in compliance with CIM Mineral Resource and Mineral Reserve definitions that are referred to in National Instrument (NI) 43-101, Standards of Disclosure for Mineral Projects. 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.

[bionicdog] 24/10/2006 18:41

Now worth about 533p I reckon.

[bionicdog] 22/10/2006 12:39

Lagging behind the TSE a bit. We should be at around 524p by my calculations.

[wassapper] 22/10/2006 11:59

Mention in Minesite Roundup

[bionicdog] 13/10/2006 07:58

That makes it harder then. Perhaps the question should be "are foreign stocks allowed in an ISA?" whether they do it or not. After that it's a matter of getting someone at GSL to prove that the shares on AIM are the same as those on the TSE.

[firkin] 12/10/2006 19:45

Thanks bionicdog. I have asked and they will not allow foreign stocks in overseas currency in their ISAs (this q. was the subject of a separate email).
As you realise my problem is with AIM stocks that qualify under HMCI rules.

BTW their first response to my query was to misunderstand and they said no to foreign stocks! even tho' my query was about AIM registered stocks.

[bionicdog] 12/10/2006 17:56

Firstly , ask them if they would allow to hold shares in GSL bought on the TSE to be held in an ISA and go on from there.

[firkin] 12/10/2006 17:46

Help!

My broker has tidied up his definitions of AIM stocks that he previously allowed his clients to buy within their ISA wrapper. He has thrown out obvious qualifiers with equally obvious non-qualifiers. I think he is simply covering his back whilst at the same time hugely complicating the issue for his clients.
I happen to have a good number of GSL on my ISA (thanks to this thread).
So far as I can fathom GSL qualifies for ISA status.
HMCI have answered my email and agree that shares like GSL do qualify for ISA status but tell me that I should sort this out with the broker.
My broker will not budge.

Where do I go from here?

Any help on this would be much appreciated.

PS I have just sorted them out on the investment status of FRR after they told me that it was only available in certificated form, I checked the CREST site and lo FRR is a regisrered CREST member. So my broker apologised and will allow me to trade this stock at normal terms on my crest account! So they can be wrong and will adjust their position. Maybe this ISA problem is run by a different manager.

[tinpotdik] 10/10/2006 19:29

Ok Ram. But surely any take out price will reflect the cost of mining.
ive read here the terrain is steep but not mountainous´; also one ´analyst´says they just have to scoop out the side of the hill´ and also that the deposit lies between 2500-4300m. Topography can have a huge impact. Perhaps im wondering over nothing as im new to this one - just like to know before i commit. Sure the reserves are excellent.

[rambutan2] 10/10/2006 16:50

tinpot,

i think the general strong consensus is that gsl will get taken out before we need to worry too much about your queries. all the drilling is just plumping us up for the dinner table.

however, i seem to recall that no guerilla activity and that v good relationship with locals etc. there is infrustructure around and all in all i think that gsl ticks most of the boxes. so far.

[tinpotdik] 10/10/2006 14:32

Just been reading through the posts. All v well. but v little or no info on cap or op costs or what limitations the terrain or other potential problems. Perhaps there arent any. You are all fixated on reserves to the exclusion of a lot. Met tests look v good though. btw im fairly sure this will be an excellent project and colombia besides its problems is an exellent place.
Heap leach requires flat terrain - how far away?
Whats the record of guerilla activity in the vicinity?
Have they farc or locals been supportive?

[wassapper] 14/9/2006 07:21

Excellent recovery rates - they will do

September 14, 2006

Greystar Receives Interim Metallurgical Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 14, 2006) - Greystar Resources Ltd. ("Greystar")
(TSX:GSL)(AIM:GSL) is pleased to report interim results from the metallurgical test programs being completed on
its wholly-owned multi-million ounce Angostura gold-silver deposit in northeastern Colombia.

Highlights:

- Column test gold recoveries obtained from the oxide composites at a 19mm feed size averaged greater than 90%
in 60 days of leaching.

- Column test gold recoveries obtained from the transitional (oxide/sulfide) composites at a 19mm feed size
averaged 74.1% in 60 days of leaching.

- Gold recoveries of greater than 90% were obtained in concentrates from Angostura sulfides using conventional
flotation methods.

- Economic scoping study scheduled for completion in November.

"These metallurgical results are highly encouraging for the oxides and clearly show promising options for
treating the sulfide portion of the deposit," states Greystar's Executive Vice President, Frederick Felder.
"Angostura continues to demonstrate its potential to become a significant economic deposit."

[bionicdog] 05/9/2006 20:53

I know , it's 3 posts up.

[wassapper] 05/9/2006 20:38

Greystar is mentioned in this story

Colombia Hosts Its 2nd International Mining Fair At The End Of This Month.

Although Colombia has a fascinating history of mining dating back to Spanish times, progress was held up in recent years by the continuing armed conflict between insurgents funded by the drug trade and the Government . Since 2002, when President Alavaro Uribe Velez was elected, there has been an ongoing peace process and the Government now has a presence in all districts. Earlier this year he won the election very convincingly once again and the economy is continuing to improve thanks to austere government budgets, focused efforts to reduce public debt levels, an export-oriented growth strategy, and the improved security situation in the country. .. more ..

[bionicdog] 05/9/2006 08:54

Dave.
There is risk investing in places like Colombia , the FSU and China to name a few of the worst that I have dallied with. I would not ascribe anywhere near such a high risk to Mexico , although I am not bright enough to attempt to attribute a discount value to each country. What I will say though , is that the discount has to look rather too hefty to me before I wade in. Whenever I invest in places like this , I am mentally prepared to lose 100% of my original capital should it come to that. Of course , the presence of Xstrata , Anglo American etc does go some way to reducing the anxiety and hence the discount applied. I for one feel that the discount currently applied to Colombia is excessively high , hence making it a good punt. Having said this , I am still always keen to have an exit point planned for my original investment at say three times the purchase price , leaving a free carry. As for Greystar themselves , they have done a fantastic job of establishing a resource in double quick time. I have no doubt that they will never mine a ounce , but whether they are taken out now or when the resource moves from indicated/inferred to proven (at an obviously higher price) would be pure guesswork on my part. There have been rumours of a couple of the majors sniffing around and this is obviously a nice size project for them to snaffle up. The above may not make any sense , as I have only just got up , I'll give it reread after my third coffee.
Cheers , BD.

[doobydave] 04/9/2006 22:00

I've been in and out of Greystar a couple of times. Though I have no holding at present Greystar still looks like it should have legs - despite the 11m deposit size (world class), it's still valued at $18/oz. It *should* be a ripe target for M&A.

Colmbia's history is one reason for the beggarly rating, but I'm wondering just how deep a discount the market will apply to all S. American stocks, including my favoured Mexico.

Any thoughts bionic?

[bionicdog] 04/9/2006 21:10

Small mention.

[flagon] 04/9/2006 13:32

Hello folks,

Still here. Happy to hold. Greystar got a mention on Minesite over the weekend. Nothing that we didn't already know but it is nice that others are aware of this stock !!

"Shares in Greystar Resources (AIM: GSL) advanced 19 per cent to 522.5p on the back of a strong drilling report from the Angostura project in Colombia. High grade intercepts including 48 g/t gold over 10 metres and 168 g/t gold over 1.35 metres were recorded from drilling in from the Veta de Barro East zone. The results indicate that the Veta de Barro zone has greater economic potential than previously thought. At the beginning of August, the Angostura project was estimated to have indicated resources of 6.98 million ounces of gold with 31 million ounces of silver, and inferred resources of 4.22 million ounces of gold with 17.6 million ounces of silver."

Link to full story below -




Good luck,


Flagon

[bionicdog] 31/8/2006 16:20

That's a bit more like it , took the Canadians to read the report to get the price up.

[rambutan2] 31/8/2006 10:09

good drilling.

[bionicdog] 31/8/2006 09:18

Not despairing , I just enjoy talking to myself when nobody else is about :o)
At least I provoked a couple of posts. Takeout at £50 it is then.