Greystar Share Discussion Threads

[rambutan2] 13/9/2005 08:36

oops, appologies for that.

[firkin] 13/9/2005 08:33

Ram that was a sale!
on 6/9/05 he exercised 47,000 options at C$1.07 (49 pence)making 147,000 holding
and on 12/9/05 he sold 47k @ C$7.50 (£3.50) making 100,000 remaining.
In fact a number of directors did the same.
Dissapointing that they all sold at around C$7.50 but understandable.

[rambutan2] 12/9/2005 11:02

director happy to buy 47k at c$7.50. serious money.

[bionicdog] 08/9/2005 16:06

The MMs won't notice over here till next week LOL!

[lasata] 08/9/2005 16:04

All time high in Toronto

[fromtheblue] 07/9/2005 09:28

Could not resist buying some more this morning as the AIM price was 5% below that on the TSX overnight. The TSX chart shows a distinct breakout. Lots more to come as guess share price should be more in the range 450-500.

[lasata] 07/9/2005 08:42

Geared play on gold price which looks set fair for final quarter

[bionicdog] 07/9/2005 07:58

Still owes us a bit more yet.

[gardenboy] 06/9/2005 17:57

nice, let's hope that drilling up at Cristo Rey is going to give good results :~)

[mikkydhu] 06/9/2005 17:46

Currently up 75 cents, 10%, in Canada.

[gardenboy] 31/8/2005 08:50

lasata,

cheers, link now in header :~)

[lasata] 31/8/2005 08:00

Keep an eye on this one:

Minesite:

Feature Story
Date: August 31, 2005

Greystar Resources Could Have Even Further To Go In Colombia.

By Our Canadian Correspondent

Last week Canada and AIM listed Greystar Resources continued to be one of the best performing resource stocks of 2005 after tabling some rather impressive drill intercepts from its wholly-owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia.

The latest batch of results from the David Rovig led junior included 392 g/t gold over 1.25 metres, 13.66 g/t over 8.7 metres and an underground drill hole that cut 54.07 g/t gold over 4.75 metres. With numbers like those, it is little wonder that Greystar's stock is on the move.

However, Greystar's Executive Vice President Frederick Felder was somewhat surprised by the market's reaction to the latest drill results and the lack of reaction to the latest resource estimate, which showed a dramatic increase in the amount of contained gold in the deposit. You see, the resource estimate put the amount of contained gold at over 10 million ounces, while high-grade, bonanza gold values are nothing new for the large mineralizing system.

Greystar optioned the property in 1994 and went on to drill 118 holes over the next five years before the political unrest and historically low gold prices took hold. It was not until 2003, when the political situation improved dramatically that Greystar could get back onto the ground.

Geologically, mineralization is hosted in vein-like structures, breccias and fault zones occurring over a 1.2 kms by 1 kms area, down to a vertical extent of up to 1 km. Bonanza grade gold shoots occur throughout the broadly mineralized body as witnessed by earlier drill results that include an intercept grading 60.7 g/t gold over 5.4 metres in the Peresoza area of the deposit, where two surface samples collected in 2000 returned 136 g/t gold and 398.9 g/t gold respectively. So high-grade zones have long been known to occur in the deposit and Greystar has always been straight forward with the fact that they will not be looking at cherry picking these high-grade shoots, but rather incorporating them into a large, open pit operation. The reason is that these high-grade shoots make up only 30-to-35% of the contained gold in the deposit. So in order to maximize the amount of gold contained at Angostura, the high grade needs to be incorporated with the surrounding lower grade material. This strategy makes the price of bullion a key factor to any future development and makes Greystar a junior company that is highly leveraged to the price of gold.

That is why from Fred's perspective, it is the newly released independent study that increased the global resources at Angostura that should bring excitement into the stock. Total indicated resources now stand at 148.1 million tonnes grading 1.22 g/t gold and 51.7 g/t silver, while inferred resources stand at 123.3 million tonnes of 1.13 grams gold and 5.42 grams silver. That brings the overall contained ounces of gold to over 10 million and more importantly the deposit remains open in all directions.

Oxide resources, which generally cover the top 100 metres of the deposit and by all indications show gold recoveries in excess of 85 per cent by low-cost, heap-leach technology, tally 33.4 million tonnes grading 1.15 g/t gold and 6.56 g/t silver in the indicated category (containing about 1.2 million oz. gold and 14.5 million oz. silver), plus another 14.5 million tonnes grading 1.09 grams gold and 6.11 grams silver in the inferred category. The deeper sulphide material needs additional testing to determine leachability. The new estimates use a 0.4g/t cutoff for oxides and a 0.55g/t cutoff grade for sulphides.

So what is next to drive investor interest after such a strong run. Well the company is looking to move away from the in- fill drilling in the next few weeks by drilling the Cristo Rey target well to the north of the known resource. This area could well mark a large extension of the deposit and if drill results are favourable, this could dramatically increase the potential resources. Metallurgical testing is also continuing. The deposit hosts different styles of mineralization both vertically and locally. So intensive testing will be required to ensure adequate recoveries.

There can be no doubt that investors like high-grade drill intercepts and whether it's the bonanza grade drill results or the large increase in contained gold that is driving interest in Greystar, this company will be in for some interesting times over the next 12 months. With exploration, underground and in filling drilling being accomplished in unison with metallurgical testwork and preliminary economic assessments, this company has clearly hit the radar screens for investors and media alike. Needless to say, with a resource this large, even the major gold mining companies are reportedly keeping a close eye on the junior. Only time will tell how the story of Angostura unfolds but it has been an interesting one so far and we will be waiting and watching.

[doobydave] 30/8/2005 13:57

Twerps. At a guess, they mean 'garnered' not 'garnished'!

'Minews', in the shape of Charles Wyatt, regularly takes indiscriminate blunderbuss potshots at frequenters of bulletin boards, whom he regards as hopelessly ignorant spivs. However, if you purport to write professionally and are bent on being snotty, it's a good idea to have some grasp of the English language.

Interesting that GSL's price hasn't budged this morning after yesterday's Canadian fall.
DD

[rambutan2] 29/8/2005 11:35

gets a mention in minesite weekly round-up. although fails to mention takeover excitements...

Canada and AIM listed Greystar Resources sparked a feeding frenzy on Thursday after reporting some rather impressive drill intercepts from its wholly-owned, multi-million ounce Angostura gold-silver deposit in northeastern Colombia. Hole VB 05-13 intersected 392 g/t gold over 1.25 metres, hole AL 05-11 returned 13.66 g/t gold over 8.7 metres and an underground drill hole cut 54.07 g/t over 4.75 metres. The news propelled the stock to a near high of C$7.35 before settling down to end the week at C$7.30, up C$1.30 on the week.

Minews: Greystar has surely garnished a lot of attention since we first featured the company last year.

CC. You got that right. Back then Greystar had a market value of less than C$50 million, almost equal to the C$40 million market value increase that was made on Thursday alone. Today, the junior has a market capitalization of C$240 million making it one of the best performer stocks over the past 12 months. That said, this past week's gain is somewhat surprising given that these are infill holes in a deposit comprised of high-grade shoots surrounded by lower grade material. So nothing really new with the latest results, still some nice holes that is for sure.

[lasata] 26/8/2005 12:19

Further to go!

[bionicdog] 26/8/2005 11:28

This has doubled for me in 4 months or so , luverly.

[rambutan2] 26/8/2005 10:53

correction, make that 360p to buy!

[doobydave] 26/8/2005 08:14

correction, make that 334p!

[doobydave] 26/8/2005 08:05

Thanks, bd. That's just one reason why I've finally given up on AIM for myself. Apart from AVM, I only invest in Candian or Aussie companies. In GSL's case the dual listing is pure co-incidence.

So 328.5p for openers it is, then.
DD

[bionicdog] 26/8/2005 07:56

Thanks for your input Dave , it's always welcome.
I have to say that the speed at which the drilling programme has been undertaken is mightily impressive and puts many a British company to shame.

[doobydave] 25/8/2005 22:26

Agreed. As I understand it, what these latest results show is the potential for an even larger resource, as most of the areas are contiguous but outside of the main resource area. This now totals 10.3m oz gold in all categories, most of it indicated, plus another 0.7m oz of gold equivalent in the form of silver. It seems unlikely that majors are ignoring it.

I admit I may be reading in too much, but I suspect the latest resutls have been issued PDQ after the resource upgrade for precisely this reason. Rovig & co. will want Angostura's full value to be acknowledged.

Incidentally, GSL finished over 19% up in Canada tonight, so there is every chance of further movement in London tomorrow morning. We'll see soon enough.
DD

[bionicdog] 25/8/2005 22:03

Damn close to bonanza grades if you ask me , a buyout can't be too far off if what our Canadian friends say is true.

[gardenboy] 25/8/2005 18:26

just got in from the day job - (yes, some of us have them you know!)

missed the news this morning, but I'm not complaining - cheers to all ;~)

[mikkydhu] 25/8/2005 17:39

Thanks for that article, Rambutan2.
With their cash Goldcorp could buy this company several times over and probably have a mine that would produce a million oz pa for over 10 years. If one company like Goldcorp made a move, I can't see all the rest stepping aside to let them do it. Of course, we don't know the economics of Greystar's resources, but the company looks undervalued.

[ntv] 25/8/2005 17:26

looks like a good call here gb
well done