LIMA, Peru , March 25, 2014 /PRNewswire/ -- The Graystone Company (OTCQB: GYST) announced today that the Company's mining operations generated approximately 580 grams of gold during the initial three weeks of March 2014. This represents the best month of production in the Company's history; nearly, doubling the previous record. The Company will provide an additional update on its production number on April 5th representing March's entire production amounts.
The Company is currently finalizing its annual report and expects to file it by March 31 , 2014. The Company was able to decrease its Net Loss by over 50% and through cost cutting methods able to reduce the 4th quarter's cash loss to approximately $47,000 for the 4 th quarter. This does not include the increase in revenue (as reported above) from the Company's mining operations. The Company will continue to eliminate expenses with the goal of being profitable by the end of 2014.
About The Graystone Company. The Graystone Company, Inc. is a U.S.-based mining and exploration company focused on acquiring and developing gold and other mineral properties. The Company's strategy is to build value for shareholders by the identification, acquisition and exploration of early-stage properties that show significant potential for the discovery of gold.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE The Graystone Company, Inc.
