Greystar Share Discussion Threads

[langland] 07/4/2005 07:52

DD, Thanks for that.

[doobydave] 07/4/2005 07:26

fresh Minesite article today:

[gardenboy] 05/4/2005 23:59

ram,

yup, won't take too long - just needs a good write up somewhere !

- trying the stockhouse chart in the header - thnx

[rambutan2] 05/4/2005 23:40

rather muted response in canada...

but that rerating will come before long!

[rambutan2] 05/4/2005 16:28

doesnt look like there was much of a spat over this...

April 5, 2005

Greystar Resources Ltd.: Agreement with Attilio Spat

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 5, 2005) - Greystar Resources.
(TSX:GSL)(AIM:GSL) ("Greystar") announces that it has entered into an agreement with Attilio (Tony) G. Spat, a director, to acquire Mr. Spat's interest in a construction bonus payable in connection with his role in identifying Greystar's Angostura Project as an acquisition opportunity. The agreed upon
value for Mr. Spat's interest is CDN$544,218 payable as to CDN$144,218 in cash and the balance by way of the issuance of 100,000 common shares. On closing of the transaction, Mr. Spat will hold 100,000 common shares, representing 0.3% of Greystar's issued capital.

[langland] 05/4/2005 14:32

first trade 4.15... price now 4.15/4.25

[rambutan2] 05/4/2005 14:31

yes, still plenty to come dooby.
and a 66% rise on the indicated looks pretty good to me.
and they've got a lot of rigs currently working...
what would you reckon to be fair value now?

[doobydave] 05/4/2005 14:25

In May 2004, Greystar had resources of
.....Indicated - 2.1moz Au & 7moz Ag
.....Inferred - 4.1moz & 13moz Ag
.....Combined categories - 6.2moz Au & 20moz Ag = 6.5moz AuEq


Now, the figures are
.....Indicated - 3.45moz Au & 14.5moz Ag
.....Inferred - 4.52moz & 16.9moz Ag
.....Combined categories - 7.97moz Au & 31.4moz Ag = 8.5moz AuEq

The upgrade is a bit less than some were hoping I think, but there's still Veto del Barro to come, which looks very interesting.

Anyway, I'm in.
DD

[rambutan2] 05/4/2005 14:22

had the funds for 2k within my isa.
thought canada should have opened by now?
but cant believe it wont move up nicely over there when it does open.

[langland] 05/4/2005 14:22

Showing 4.14 pre-market- equ to 1.81

[langland] 05/4/2005 14:17

In the circumstances I have gone for another 5k. Interesting to see what Canada makes of it in the next 15 mins.

[rambutan2] 05/4/2005 13:20

and yes, it is a stonker.
and i very strongly suspect that there's more to come...
David Rovig, Greystar's President commented, "...This is particularly encouraging because the deposit remains open in all directions indicating that the potential for further increases are favourable."

[langland] 05/4/2005 12:06

Thanks..I hadn't seen that. On the basis of the indicated resource the share price seems to be trading at a 50% discount to a value at 50USd per ounce (juniors tend to be valued at 50-60 usd per ounce in the ground). So this takes no account of the inferred. This surely should be trading 50% higher?

[tinpotdik] 05/4/2005 11:36

some v good news today on reserves update - pretty muted response so far.
Guess we must await Canadians. looks like a takeover target to me -
just a pity about the countries' reputation. To start feasibility study by end 2005.

[rambutan2] 01/4/2005 15:28

anyone going!
1 April 2005
Vancouver, British Columbia TSX and AIM: GSL

NEWS RELEASE

For Immediate Release

NOTICE OF ANNUAL & EXTRAORDINARY GENERAL MEETING

Greystar Resources Ltd. (the 'Company') - Shareholders are advised that the 2005
Annual & Extraordinary General Meeting of the Company will be held on Friday,
April 29, 2005 at 2:00 p.m. (PST) at the Offices of Bull, Housser & Tupper,
Arbutus Boardroom, 30th Floor, 1055 West Georgia Street, Vancouver, B.C.

A copy of the Notice of Meeting, Information Circular, Letter to Shareholders,
Proxy, Audited Financial Statements and Management Discussion and Analysis for
the year ended December 31, 2004 will be mailed on 1 April 2005 to the
shareholders of record as at 21 March 2005.

An electronic copy of the Notice of Meeting, Information Circular, Letter to
Shareholders and Proxy are available on SEDAR at
www.sedar.com
on 2 April 2005 .

An electronic copy of Audited Financial Statements and Management Discussion and
Analysis for the year ended December 31, 2004 are available on SEDAR at

www.sedar.com
on 1 April 2005.

[rambutan2] 01/4/2005 15:18

finals out this morning

not got time to look through it at mo. but did note this...

Until late in the year drilling had concentrated on an area of about 1,000 meters by 1,000 meters at which time a drill was moved to a target of about 400 meters by 500 meters contiguous to the north. The new area, Veta de Barro, yielded very promising results in the first few holes and the Company expects that it has the potential to contribute significantly to future resources. Subsequent to year-end geochemical results from the Cristo Rey area, a 1,000 meter by 1,000 meter area starting about 500 meters north of the Angostura area, were announced. The results of the geochemical and associated rock chip samples suggest another highly prospective area which the Company will continue to evaluate.

and this...
Subsequent to year-end a new technical report was commissioned which is expected to be completed on or about March 31, 2005 and will include a new NI 43-101 compliant resource calculation.

[gardenboy] 27/3/2005 13:10

Dooby,

thanks for spotting the Mineweb article - I have posted the link below in the thread header,



ram,

yes, quiet threads do not necessarily mean underperformance!

...looking forward to the Snowden Report,

gb

[rambutan2] 27/3/2005 02:53

hi dooby, yes odd how so quiet. but then fqm was the same and remained so all the way from £1.20 to £10! so i take it as a good contra indicator. in any case its my favoured gold play for the year. approx 6.5m shares and 1.6m wrrs in the hands of uk institutions. i know that svm and artemis hold some. the impression i get is that its got a good institutional shareholder base in canada. im sure that the 32.5m shares includes the last placing. also, approx 3.5m options and approx 4.6m wrrs, all of which look likely to be exercised. which adds up to 40.6m fully diluted - your figure pretty much.

re eis tax relief. i dont know. but i do know you can stick the aim stock in your isa.

infrastucture is good, as is relations with the locals. and columbia is currently a much improved country to do business in.

i think that the management believe that there is still much to find on their land. and the new resource statement will surely be nicely upped from the last one.

in any case, i will be very happy if it manages 50% of what fqm did.

regards
rambutan

[doobydave] 27/3/2005 00:13

An eerily quiet board for a very promising company, mentioned again today on .

Feel free to correct me on the figures, but here goes:

In May 2004, Greystar had resources of
.....Indicated - 2.1moz Au & 7moz Ag
.....Inferred - 4.1moz & 13m ozAg
.....Combined categories - 6.2moz Au & 20moz Ag = 6.5moz AuEq

Based on these figures, and a current market cap of US$81m as stated in the article (NB. is this right? I make it more like US$105-110m), GSL's gold-in-ground is valued at just US$12.5 per oz, or 3% of the current gold price. That looks fairly miserly even if we weren't 10 months further on, but since May 2004, further drilling results have been excellent and a substantial upgrade seems likely after Snowden have been to work, courtesy mainly of the Veta de Barro extension. I note that David Rovig is said to believe the new mineralised footprint being drilled at Veta de Barro has the potential to make an 'extremely significant' contribution to resources at Angostura.

In my semi-educated opinion (please note and DYOR), the wider Angostura complex could even shape up as a respectable bulk-tonnage prospect even without the additional high-grade veins. I am basing this comment on admittedly thin info, but 3.42g/t Au and 2.26g/t Ag over a length of 112.8 metres, and 2.62g/t Au and 5.0g/t Au over 120 metres are not bad, though the vein swarms provide the real interest.

Infrastructure (power, roads, water supply) is said to be sound. Early metallurgy is unimpressive but definitive work and environmental reports will come in the Snowden NI43-101 report. Columbia boasts several successful mining operations, (Rio Tinto, Anglo American, BHP Billiton), so apparently they don't think the risks of insurgency are prohibitive, at the moment. I'm aware that Greystar had to pull out in the past.

I'd be interested in views on the share structure. Warrants and options seemed set to dilute the Jan-Feb's 33m shares by 25% to 41m but I'm not sure is the de-restrictied 7m shares were part of this or not. I am also unclear as to institutional and director holdings.

Another matter of interest to me is whether this shares qualifies for EIS tax relief, since the primary listing is Canadian.

Bearing in mind that 1/3 of the resource is already at 'indicated' level, and that resources are (probably) about to be both extended and upgraded, Greystar looks very undervalued. This is one of the watershed times where minex companies are revalued and I very tempted to climb aboard come Tuesday. I would be indebted to anyone who can help me iron out the creases re. market cap, share structure and EIS.

Regards,
DD

[rambutan2] 24/3/2005 11:10

note...
March 22, 2005

Greystar AIM Shares Unrestricted

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2005) - Greystar Resources Ltd. (the "Company")(TSX:GSL)(AIM:GSL) - The Board of the Company announce that 7,000,000 common shares (which were trading on the London Stock Exchange operated AIM market under the designation B common shares with ISIN CA3979134010) have now ceased to be restricted and are therefore identical in all respects with the Company's common shares and will trade under ISIN CA3979132030.

[rambutan2] 17/3/2005 13:15

a new resource estimate due soon - should be a stonker...
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - Greystar Resources Ltd.
(TSX:GSL)(AIM:GSL)(AIM:GSLb) is pleased to announce that the international engineering firm Snowden Mining Industry Consultants Inc. has been retained to produce a new NI43-101 compliant Technical Report (the "Report") on the Angostura Project. The Report, including a new resource estimate, will be
filed on SEDAR concurrently with the Company's Annual Information Form and financial statements for the year ended December 31, 2004. This Report will include the results of 315 holes and 96,627 meters of diamond drilling completed to February 28, 2005.

[rambutan2] 23/2/2005 11:33

good grades...
Greystar Cuts 112.8 Metres Grading 3.42 Grams Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 22, 2005) - Greystar Resources Ltd.
(TSX:GSL)(AIM:GSL)(AIM:GSLb) reports that delineation drilling continues to show the bulk tonnage potential of its wholly-owned, multi-million ounce Angostura gold-silver resource in northeastern Colombia.

This is best exemplified by hole DM05-01, which was collared in the Diamante area of the main zone of the deposit some 40 metres east of a 2003 drill hole that yielded 2.62 grams gold and 5 grams silver per tonne over 120 metres. The newest hole returned a weighted average of 3.42 grams gold and 2.26 grams silver per tonne over 112.8 metres. Included in this interval was several higher-grade intercepts including 17.8 metres grading 10.43 grams gold per tonne in Vein 25. The latest results confirm that this area hosts a complex vein system with the higher-grades in Veins 25 and 26 having been modeled in the 2004 resource study.

Moving east to the La Alta area, an offset hole drilled farthest to the north intersected 2.07 grams gold per tonne over 38.6 metres in Vein 67, plus two new veins containing 1.27 and 1.06 grams gold per tonne over 23 and 11.1 metres, respectively. Hole AL05-02 tested the northern limit of the vein swarm
system with broad zones of lower grade material encountered including 0.71 gram gold per tonne over 38.4 metres in Vein 323, while Al05-03 intersected 15.5 metres grading 0.68 gram gold per tonne in Vein 68, 17.85 metres grading 0.66 grams gold per tonne in a new vein and 14 metres of 1.37 grams gold per tonne in Vein 1.

To the south in the Nueva Alta area, hole NA05-01 returned good intercepts in Veins 12 and 31 with 1.3 and 1.52 grams gold per tonne over respective widths of 19.6 and 7.3 metres. Additional analytical results from drill hole NA04-16, reported on in the January press release expanded the V55/V31 intercept to 39 metres grading 1.45 grams gold per tonne from the previous 26 metres yielding 1.11 grams gold per tonne.

In the Silencio area drilling on the southern limit of the vein system intersected 0.73 gram gold per tonne over 18.2 metres and 1.07 gram gold per tonne over 20 metres. The most westerly hole drilled to date in the Veta de Barro area intersected two veins grading 3.34 grams gold per tonne over 4 metres
and 1.31 grams gold over 5 metres, respectively.

Tunneling Program

In January a new contractor, who also is the drilling contractor, was engaged and this has resulted in a doubling of productivity in the tunnels. This month work has commenced on a raise that will be driven on Vein 24 and by the 20th of February it had advanced 14 metres. The raise will provide information on the vertical behavior of the veins and also serve as a ventilation raise and a
secondary escape way. A second Mancha Little Trammer is being imported to enhance the material handling capability for the tunnel.

[rambutan2] 02/2/2005 15:07

hi langland, only reason for discount is that they not tradeable in canada. snag, as you say is that you cant stick the bs in your isa.
i wonder whether the wrrs will become seperatley tradeable in march?

[langland] 02/2/2005 14:29

R,
Many thanks for pointing to the existence of the B shares. I bought a few today. V. thin mkt. so had to pay 5p over but still reasonable discount to the ords. Will look to buy more ords since they are both isable and sippable.