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.

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Gryphon Gold Corp

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Comment by red911on Oct 01, 2012 7:58am

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Post# 20432493

RE: RE: RE: RE: RE: RE: Kiwi's last post

Belgie... There is no difference here than Waterton debt agreement with SGN. If SGN can repay their debt with a propoerty like Mineral Ridge than GGN can certainly do the same with Borealis. Don't forget they have ONLY been messing around here with old waste heaps and dumps during this initial startup process/period. They have yet to start actual mining. Actual mining (i.e MUCH higher grades and recoveries) will begin before the end of December. My guess is it may be sooner in light of recent $5M financing. The capital requirements are now fullfilled.

Despite what share price says, it's not all doom and gloom here. GGN has a producing heap leach operation, are expanding its capacity fro 4-12M tonnes, and will start moving from old waste material to viring ore in short order.

GGNs goal is to reach 25K-30K Au per year rate at $600-700 /oz Au costs by December 2012. If they do this $18M market cap will be history.

Questions for you... What was SGNs production rate in its FIRST YEAR of production? What was SGNs market cap? Compare to GGN. IMO the answers to these two questions will indicate to anyone GGN is severely undervalued here, even with production delays.

But we'll see.

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