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Gryphon Gold Corp GYPHQ

Metals & Mining Gold
Gryphon Gold Corporation is a mine development company. The Company's principal asset is Borealis property. The Borealis Property is 27.5 square miles located in the Walker Lane gold belt of western Nevada. The Company's land position covers approximately 17,600 acres for the Borealis property and over 60 Nevada exploration properties, which cover approximately 70 square miles in the state's gold trends. The Borealis property has approximately 1.4 million ounces of measured and indicated gold resources, and approximately 1.1 million ounces of inferred gold resources have been accredited to the one square mile Central Borealis zone. Its Borealis property has over five other prospective zones that are being explored, which have the potential to host significant gold resources. The Company continued drilling on the Borealis property in the Graben resource, and in the central and western pediment areas.


GREY:GYPHQ - Post by User

Gryphon Gold Corp
Bullboard Posts
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Post by red911on Feb 18, 2012 8:02am
319 Views
Post# 19553503

Cash Situation...

Cash Situation...As of Dec 31... they had $527K in receivables (gold carbon shipped) and they had $3.5M in inventories... $580K of which was loaded carbon ready to be shipped. No way to know if they actually received the $527K before reporting cash situation in lasest update of $250K. If not they may have that $527K now. Can that bridge the gap between receiving revenue from latest 200 oz shippment by end of Feb or early Mar?... which is still only $340K... I assume they have shipped more since and are producing at a somewhat higher rate now? A lot of questions. I would say PP announced next week. Let's see some financers imposed new Board members as well. And let's get to full production asap. It is possible to turn this around quickly and be right back where we thought we were in no time IMO. These production fixes could increase production significantly.
Bullboard Posts
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