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GOLD, SILVER - (current bid, $ change)

Economic Overview

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Due to the upheaval in the credit and equity markets and the overall condition of the economy, Grand Central Silver Mines, Inc., financial and legal advisors have advised the Board to postpone the Filing of the Form 10 (a necessary perquisite for becoming a publicly traded company) until market conditions prove to be more favorable. The cost of maintaining a publicly traded company for a non-operating entity is prohibitively expensive especially in today's environment.

As you may know BHP's Billiton $135 billion offer to acquire Rio Tinto was withdrawn late last year due to the market conditions and worldwide a decline in prices for base metals, such as copper. Correspondingly, Rio Tinto, the owner of the Bingham Copper Mine, (adjacent to Grand Central's core assets) has recently announced that it will cut capital expenditures by $5 billion and its worldwide work force by 14,000.

Grand Central Silver Mines, Inc for its part is not immune to these events and has decided to concentrate its activities on reviewing geologic results, reducing debt and marketing its properties. The company's desire to return to the public markets has been postponed until market conditions for Grand Central improve.

This website may include forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933,and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events, industry and financial trends affecting our business. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things:
  • general economic, political and business conditions, both in the United States and worldwide;
  • the effects of the current world economic crisis originated in the U.S. subprime mortgage market on global and United States economic and market conditions;
  • changes in competitive conditions and in the general level of demand for metals both within the United States and worldwide.
  • management's expectations and estimates concerning our future financial performance, financing plans and programs, and the effects of competition through out the world
  • continued successful development and marketing of the Company's properties
  • anticipated trends in our industry, including but no limited to precious metals
  • our short- and long-term outlook for the Company and the metals market;
  • our expenditure plans;
  • de-inflation and monetary policies
  • existing and future governmental regulation as it pertains to the mining industry;
The words "believe," "may," "will," "forecast," "estimate," "plan," "continue," "anticipate," "intend," "expect" and similar words are intended to identify forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements because of new information, future events or other factors. In light of these risks and uncertainties, the forward-looking events and circumstances referred in this website might not occur. Our actual results and performance could differ substantially from those anticipated in our forward-looking statements. As a result of various factors including the current prices for precious metals, undue reliance should not be placed on these forward-looking statements.

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Grand Central Silver Mine
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