GREY:GYPHQ - Post by User
Comment by
red911on May 15, 2012 3:00pm
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Post# 19911725
RE: RE: Vancouver Convention 6/3 & 6/4
RE: RE: Vancouver Convention 6/3 & 6/4 We haven't even heard from GGN if the legal issues with landholders were ever formally resolved. I assume/think they have been given Waterton's involvement since but nothing official from GGN. Need to know basis it seems. Why would you tell shareholders there was a legal matter but then not tell them it was resolved? They deemed it significant enough to disclose... wouldn't it also seem significant to disclose it is resolved? Very bizzarre.
"On other legal matters the company noted that on Jan. 31, 2012, Gryphon Gold was served with a complaint alleging breach of contract that was filed in the First Judicial District Court for the State of Nevada in Carson City by Borealis royalty holders which include the Cavell Trust, Hardrock Mining Co. and John W. Whitney. The royalty holders allege that "advance royalties" which have been paid by Gryphon Gold are not recoverable and are payable during the duration of the mining lease. Gryphon Gold deducts previously paid "advance royalties" from production royalties payable under the Borealis mining lease agreement. Gryphon Gold believes their claims are without merit and intends to vigorously defend against the claims. "