Ticker Symbol: GYST 

Gold AU Prices POP to 30 day high

September 24, 2015 by  
Filed under About Gold, Gold Mining, Industry News

Gold prices popped to a four-week high of $1,156.40 in December Comex futures Thursday. The yellow metal saw a combination of strong short covering in the futures market, bargain hunting in the cash market, and some fresh safe-haven demand amid sharp losses in the U.S. stock market. Buy stop orders were triggered when December gold pushed above what were solid chart resistance levels at last week’s high of $1,141.50 and then at the September high of $1,147.30. The next upside objective for the energized gold market bulls is the August high of $1,169.80. December Comex gold was last up $22.00 at $1,153.50 an ounce. December Comex silver was last up $0.0341 at $15.13 an ounce.

While the U.S. stock indexes were solidly lower Thursday, due in part to some downbeat U.S. economic data released in the morning, world stock markets were mixed on the day. Japan’s Nikkei stock index down nearly 3% as Japan markets reopened from a long holiday. China’s Shanghai index was up just over 1%. Traders and investors worldwide and taking their cues from either China or the U.S. In China, the world’s second-largest economy is wavering and that has many markets edgy. And in the U.S., the focus is still on Fed policy—so “Fed speak” will continue to be extra important.

Speaking of which, Fed Chair Yellen’s lecture to a Philip Gamble Memorial group in the afternoon will find traders hoping she will shed some fresh light on just when the U.S. central bank might raise its interest rate for the first time in several years.

The London P.M. gold fix today was $1,154.50 versus the previous London A.M. fixing of $1,134.45.

Provided by the Graystone Company GYST and AU2020.com

A Look at Gold Mining Equipment

April 2, 2012 by  
Filed under Gold Mining

At one time gold mining consisted of miners squatting over streams or river beds, swirling their pans and smiling when those shiny bits of earth separated from the sand. You can still find that today, but like any other industry, gold extraction has become a highly mechanized process accomplished with heavy-duty gold mining equipment. Large-scale gold recovery is a costly endeavor, and many of the heavy-duty machines used for mining projects are designed to be time- and cost-effective. There are numerous machines and equipment used to facilitate successful gold extraction operations: wash plants, trommels, pan feeders, screens, jigs, sluice boxes, and shaking tables—to name just a handful.

Wash Plants and Trommels

Wash plants are engineered to thoroughly wash and recover alluvial gold. Wash plants feature horizontal designs that allow for lower feed heights and more intense cleaning action. Numerous spray bars and nozzles thin and separate gold into nugget traps, sometimes 10-feet long.

Trommels are screened cylinders that separate materials by size and prevent blockage. Screens are constructed from steel or rubber and can be snapped into place. While more expensive, rubber screening media is thought to outlast its steel counterpart by 10 to 15 times.

Pan Feeders and Screens

Feeders are designed for in-line placement to convey material to a screening or washing plant. They can use vibration to transport material, be remote-controlled, or use surge bins. Their capacities can range from 50 TPH to 1,500 TPH. Pan feeders feature screen decks with drive shafts, oversize bearings, and adjustable throw. Research has shown that incline feeders capable of reversal can result in a higher scrubbing action for gold recovery. Variable speed drives allow for adjustment of the feeder or screen. Some feeders are designed with the spray system separate from the vibrating unit to minimize broken spray bars. Screens are used to separate gold from sediment and other minerals or materials. Dewatering screens are useful in gold recovery operations for various reasons:

  1. They save water by removing it from the sluices or jig tailings. As the dewatering screens remove water from the sand, it becomes packed and can break off in large chunks.
  2. The high-impact screens are extremely durable and enable the machine to run constantly.
  3. When combined with a cyclone, the screens remove large amounts of fine sediment from the water. This helps keep sediment buildup to a minimum in the recalculating ponds.

Jig Systems

Most jig systems are comprised of a hutch containing water with a screen on top. The material is placed on the screen while a rubber diaphragm at the hutch’s bottom is driven up and down. When driven up, the growing water column dilates the shot bed while differentially sorting the particles based on gravity: heavier particles stay on and nearest to the shot bed, while lighter particles are carried away. On the down stroke, the heavier particles are pulled downwards through the bed and are discharged through a valve in the bottom of the hutch.

Advantages of a Jig System:

  1. Adding a jig system to a gold recovery operation is said to increase results by five to 40 percent, and most of that recovery is in the 100 to 250 mesh-size range.
  2. As the jig system is self-cleaning, it is low-maintenance with low operating costs.
  3. It has low water consumption.
  4. The jig’s immediate feedback allows for quick analysis of the discharge.

Sluice Boxes

Sluice boxes are known as the most cost-effective gold recovery machine and form the basis of any large-scale gold recovery operation. The boxes are designed in single, double, and triple configuration with riffles staying below three feet in width. If a sluice box is not set up correctly with the perfect water flow, gold can be washed right out. Sluice boxes allow for large amounts of material to be processed, versus the traditional gold panning technique.

Shaking Tables

Shaking tables, or gold concentration tables, provide the final steps prior to the smelting process. They are designed to wet the separation of minerals based on gravity and are simple to operate. The table uses water that is circulated through pumps, filtered, and reused at precise pressure levels. Shaking tables are invaluable when it comes to extracting fine gold.

From retrieving to cleaning and separating, heavy-duty gold mining equipment is necessary for large-scale gold recovery operations.

How to Pan for Gold

March 6, 2012 by  
Filed under Gold Mining

Panning for gold is still the simplest, easiest, and cheapest way to extract gold, even though it is the oldest form of mining. Panning for gold simply takes a pan and a stream bed with gravel or sediment that’s known to be located over a placer deposit.

Panning for gold is a form of placer mining in which gold is extracted from a placer deposit. A placer is an accumulation of valuable minerals, somewhat like a vein, but when panning for gold a placer that’s not solid is used. Panned gold is extracted from an alluvium placer deposit, which is a placer that has formed in river, creek, or stream sediments, collecting in protected places where the water doesn’t flow as fast, such as bends, eddies, breaks, waterfalls, and natural barriers along the shore.

Panning for gold is the oldest form of mining, and was the main source of extraction during the U.S. gold rushes. It is not effective for large-scale extraction operations today, but is still in practice. In old western mining towns with operational mines and pan sites, panning for gold is a novelty for tourists, families, and amateur geologists, as well as a profitable activity for mining entrepreneurs and professional geologists.

Gold placers are usually found in the mountains, and panning is an effective way to extract gold from streams and mountainside runoff. Gravel from the placer deposit is scooped into the pan with some water, and the gold sinks to the bottom as the pan is agitated, much like a washing machine. Denser materials like gold and gemstones will separate from the lighter materials in the gravel and remain in the pan, while the lighter, more porous gravel and sediment will float to the top and fall out of the pan with the water.

There are different kinds of gold pans you can use, including specially designed pans and heavy gauge steel or even copper pans. Sometimes screens, square pans, and other accessories are used. Some panners use a technique in which they lower the pan back into the stream as the gravel and sediment separate and float to the top, just long enough for the light current to sweep the unwanted sediment away while the gold rests in the bottom of the pan.

How to Locate a Placer Deposit

You can try your luck at panning for gold, gemstones, and other metals in areas that may contain placer deposits. Types of placer deposits include:

  • Alluvium – placer deposits that form in river and stream sediments, found along the banks anywhere that sediment can be trapped.
  • Eluvium – a type of placer deposit formed by settling and weathering, also located in stream beds.
  • Bench placer – placer deposits that form on the bank or beach of a large body of water or river.
  • Paleoplacers – placer deposits in which the deposit is a solid rock. Only gold and uranium are mined this way. Paleoplacer literally means “old placer.”

In the United States, gold was found out west. Head into the mountains or mountain valleys to find a cool mountain stream. Chances are you can find beds of sediment with tiny flakes of gold among the sand and gravel. Mountain towns with access to public lands will have local hot spots for gold panning that you may be able to locate through websites, blogs, or conversations at the local coffee shop.

Finding large deposits of gold through panning on public lands can be difficult, however, because most valuable placers have already been located and the lands they’re on have been purchased by mining companies. Some commercial operations around the west have gold and other gemstone panning available at regulated sites for a small fee, if you want to try your luck at striking it rich.

Placers are formed by heavier materials sinking during the sedimentary phases of rock formation, separating due to gravity. Placers are often characterized by black sand that contains a shiny mix of magnetite high in iron oxides. Look for these characteristics in the river canyon when trying to locate an unknown placer in a mountain streambed.

Even if you don’t find gold while panning, you may find crystals, gemstones, or other metals. In addition to gold, platinum, tin, diamonds, thorium, titanium, and uranium are all mined from placers.

Even if you don’t walk away with much, these small nature-made treasures make great souvenirs to remember your adventure by.

Exploring the Symbolism of Gold

March 2, 2012 by  
Filed under About Gold

For as long as time has been recorded, gold has been associated with the highest values of influential societies and cultures, symbolizing important traits and objects such as wealth, power, treasure, justice, balance, and the sun. In ancient stories and folk tales throughout history worldwide, gold has always been an important part of the hierarchical, artistic, and monetary aspects of powerful societies.

Gold has been coveted in many societies throughout history, but not all. The Native Americans of North America found gold useless and therefore priceless, while its affluence in Central and South America was largely responsible for sending European explorers to the New World. The nobility of Medieval Europe used gold flakes in their food and beverages as a decoration and a way for the host to express wealth. Their kings were inducted under a crown of gold to show that the eternal light of heaven shown upon their heads.

Gold has been known to man since the Copper Age, or Chalcolithic Period, which dates back 7,000 years. Artifacts containing gold dated from 4000 B.C. and 2000 B.C. have been recovered from the Balkans and Europe, respectively. Ancient Egypt is another place that gold was used starting around 2600 B.C., and was a society in which gold was extremely prevalent. It also became very abundant in Africa’s Mali Empire around A.D. 1300, and the empire’s ruler gave away so much gold that it destroyed its value in Egypt.

Gold symbolism appears in ancient Greek mythology in legends such as that of Jason and the golden fleece, which was highly coveted, and King Midas and his golden touch, which was at first both a blessing and curse, but ultimately his demise. Gold has rich symbolism in Christianity, being associated with both the sacred and the corrupt. Gold is referenced throughout the Bible and is often used to distinguish between the sinister rich and suffering poor, one of many forms of symbolism commonly applied to gold.

Common Symbols of Gold

Wealth: Gold is most commonly associated with money, wealth, riches, affluence, and high society. Throughout history, the rulers and royalty of civilizations have traditionally used gold as a symbol of their power in ways that permeated every aspect of their lives. Today, gold is owned by both the rich and poor, but it is commonly associated with the rich as a luxury and with the poor as something that’s inherited as an heirloom or pawned in times of need.

Even though there was so much gold in the old world that ancient Egyptian and African societies buried their Kings in gold suits and gave gold away to peasants, it’s estimated that 75% of the world’s gold has been extracted in the last century. Gold has always been considered the most coveted of the precious metals, even though platinum is valued much higher.

Money: Gold’s value is used as the standard for many currencies and has been the material used to make many currencies in the past. Gold bars and coins are still used in investment and held as a protective measure against inflation.

The Sun: A chief mission of alchemists was to make gold out of other, less valued substances. Alchemy’s symbol for gold is a circle with a dot in the center, which was the alchemists’ astrological symbol for the sun and the Chinese symbol for the sun.

In Ancient Egypt, Central America, and South America, gold was often directly associated with the sun, as they were similar in both color and importance. Temples, shrines, and graves in these cultures were always made of and filled with gold and gold was offered up to the sun gods above all others.

Treasure: From pirates at sea to leprechauns in Ireland, someone has always been searching for that elusive hidden treasure of gold.

Balance: The weight of gold has been considered an accurate and universal measurement that has transgressed time and cultures. A bar of gold on a scale is still commonly used today in the United States to depict fairness, balance, and justice.

Achievement: Gold medals, trophies, and other rewards are both ancient and modern symbols of and awards for achievement.

Perfection: The golden mean, golden ratio, and golden rule all refer to valued elements existing in perfection.

Age: Gold is associated with the positive aspects of age, such as in the golden fiftieth wedding anniversary, the golden years, and the golden age of a civilization.

Gold’s Uses Throughout History

January 5, 2012 by  
Filed under About Gold

Gold was the first metal widely known to man. This naturally occurring metal can be found as nuggets or nested in rocks. Its brilliance and malleability makes it fun to work with and easy to mold into shapes.

Since being discovered, gold has been used in jewelry, science, and currency and it remains a highly-coveted commodity. The history of gold is broad and fascinating, dating back to very early days when it was first discovered in 4000 B.C. by an Eastern European culture. Since then the river of gold has twisted and turned through the progression of currency, the development of science, the exploration of space, and the creation of technology.

Currency and Jewelry

From 3000 B.C. until 1284 A.D. gold had been used to create jewelry and build a currency that extended from Iraq and Egypt to China and Britain.

  • In 3000 B.C. the Sumer civilization of southern Iraq began creating jewelry out of this brilliantly magical element.
  • In 2500 B.C. gold was buried in the king’s tomb of the first Egyptian Dynasty.
  • In 1500 B.C. Nubia’s gold created wealth for Egypt and it became recognized as a standard exchange for international trade. The Shekel then followed as the standard unit of measure in the Middle East, containing a naturally occurring alloy of two-thirds gold.
  • In 1200 B.C. the Egyptians began to beat their gold into a thin sheet, or leaf, to extend its use. They also began experimenting by alloying it with other metals. Still in use today, they began casting gold into fashionable jewelry.
  • The use of gold in currency continued, extending to China in 1091 B.C., when China legalized small squares of gold as currency. Then in 1284 A.D. Venice introduced the gold ducat, which quickly became the most popular coin in the world. In this time, Great Britain also created its first major gold coin, the Florin. The Florin then eventually became the Guinea, which was replaced by the British pound that we know today.

Space, Computers, and Communications

As the U.S. gold rush ramped up, gold was found to be useful for more than simply beautiful jewelry and coins. The European Rheumatism Council, AT&T Bell, and NASA all found uses for this brilliant metal.

  • In 1803 the first U.S. gold rush was born as this hot commodity was discovered on U.S. soil in North Carolina.
  • Later on in 1935 gold came into play as Western Electric Alloy #1 was used in the universal switching contact for AT&T telecommunications equipment.
  • In 1960 AT&T Bell Laboratories invented a laser that used gold-coated mirrors to maximize infrared reflection into the lasing crystal. The European Rheumatism Council also used gold intravenously to treat rheumatoid arthritis.
  • In 1965 the first space walk was made using a gold-coated visor that is still in use as a safety feature for astronauts to this day.
  • In 1968 gold began its introduction into computer technology when Intel created a computer microchip that was interconnected with gold circuits.
  • In 1970 the charge-coupled device was invented at Bell Telephone Laboratories. This device is used to collect electrons generated by faint light from the stars. This technology is still used in hundreds of items today, such as the video camera.
  • In 1971 the colloidal gold marker system was created and spheres of gold were used in health research laboratories to tag proteins, revealing their function in the body.
  • In 1980 the first space shuttle used gold-coated impellers in its liquid hydrogen fuel pump.
  • In 1986 the first new gold jewelry alloy was introduced in this century that was easier to work into designs and more durable when fired.
  • In 1996 the Mars Global Surveyor incorporated an onboard gold-coated parabolic telescope-mirror that generated a detailed map of the entire Martian surface.

Ever since its first discovery, gold has been a central theme in currency, crucial in the development of communications, and a contributor to the advancement of science. Beautiful and easy to work with, this brilliant metal has always been in high demand and coveted across nations for its value and beauty.

As one of the most valuable currencies worldwide, gold symbolizes wealth across the world and is used in just about every facet of modern civilization.

The Lifespan of Gold: From Formation in the Earth to Processing and Use

January 2, 2012 by  
Filed under About Gold

From the time that it is first carried throughout the rocks and soil until the time at which it appears in a circuit board or as a ring on a finger, gold is formed, processed, and used—gold is in a constant state of repurposing.

Gold is moved from deep underground and then mined after it is deposited nearer to the earth’s surface. Gold is then processed and formed into a great many things in today’s world. It is used by technology, science, and the fashion industry in many ways. A single atomic substance naturally found in the earth, humans have built empires from its brilliance and made lasting commitments by its glow.

The Formation of Gold

There are many theories surrounding how gold is redistributed within the earth. Some believe that gold was once in a molten state, and solidified to create deposits. But it is understood that gold is actually re-deposited by circulating hot water that cools as it reaches the earth’s outer surface, and ends up in specific areas that exhibit the correct conditions.

Intensely hot water deep within the earth brings elements such as gold into a solution form, which is then moved from one place to another by convection. As gold is moved and the water cools, gold nuggets and veins form as this metal solidifies.

Often veins form through natural fissures in the rock, or between two different substances where liquid is better circulated. Creating gold crystals requires a very specific set of circumstances, and therefore gold is most often found in oddly shaped lumps and mounds, instead of in crystalline shapes.

Mining and Processing Gold

Mining begins with ore samples that are taken from the area to help the miners determine the correct extraction process. The gold found in nuggets is easier to detect when mining for gold, and it offers more bang for one’s mining buck as well. But more often than not, gold is spread out throughout an area, making it more difficult to collect. Low-grade gold can be dissolved out using cyanide, whereas high grade gold is often first extracted from the ground, and then dissolved and separated.

Once gold and other rocks are removed from the ground, they are crushed into powder and mixed into a mud. This mud is then filtered to separate the gold from the other elements and liquid. Other methods include leaching the gold by roasting it and then extracting the gold by dissolving it in a liquid and then allowing it to deposit onto activated carbon.

Refining Gold

After being mined, gold is then refined by stripping out its impurities. These impurities are eliminated by melting down the gold and then treating it with chloride. This chloride treatment causes any excess metals to drift off so that a purer gold remains. To complete the refining process, an electrical current is passed through the gold to strip out any remaining impurities.

Gold’s Uses in Modern Life

Although most popularly recognized in the form of jewelry and coins, gold is also used throughout everyday lifein a great many ways, such as:

  • Aerospace – Gold’s reflective properties help protect astronauts and spacecraft from the sun’s heat and radiation. Rocket engines have gold tubing to safely carry liquid hydrogen, and weather satellites deflect heat.
  • Medicine – In medicine, gold is used to focus lasers, create more accurate thermometers, develop life-saving drugs, and study DNA.
  • Transportation – In cars, gold is used to create reliable contacts and sensors for airbags. Commercial airplanes use gold-bonded compressor vanes to cool down turbines, and infrared equipment is used to monitor air-pollutants to ensure safe working environments. Miners themselves benefit from gold by relying on gold-activated monitors that help warn them of low oxygen levels.
  • Technology – Gold is used throughout technology in circuitry, telecommunications, and many sophisticated electronics.

Gold is found across the globe in some form or another, from its original location deep within the earth, to its use in modern-day living and currency.

Video Explaining How Gold Is Extracted From A Hard Rock Project

October 26, 2011 by  
Filed under Company News

This is a great video explaining how gold is extracted from a gold mining hard rock project.  Hopefully this gives everyone an idea of the process of how gold is processed and refined from the ore. This is a similar method that we use on Gorilla.

Click Here For Link to Video.

Welcome to the Graystone Company Blog!

October 25, 2011 by  
Filed under Company News

Welcome to the blog for Graystone Company! This blog is your source for information on the world of gold and other precious minerals and the work that goes into mining and refining those them. This space is as much yours as it is ours.

Graystone Company is a mining corporation dedicated to maintaining continuous, sustainable economic growth. We locate and extract mineral deposits for refining by acquiring properties where mineral ores have been discovered. Precious minerals are obtained through various means, including:

  • Placer mining
  • Sluice box mining
  • Trommel mining

We are headquartered in Peru and aim at having a positive impact on the area’s environment. We also offer meaningful employment to locals, thus establishing ourselves as a fixture in the community.

This blog is another way of extending that sense of community to our clients. We will update our blog frequently with informational posts about precious minerals, the mining process, and the gold industry as a whole. We’ll also keep you up to date with what’s going on in the company and, in the process, give you a little insight into Peru and its citizens.