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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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Comment by red911on Jan 07, 2013 9:41am
152 Views
Post# 20804913

RE: last straw

RE: last straw

'smile....will get through it.....'

I will be glad to be wrong.  Hope I am wrong.  Could easily be wrong as there are many possibilities here... 1 month away from actual high-grade blasting/mining operations (FINALLY).

Concerns... No mention of additional carbon columns in update.  More importantly... no mention of debt payments which are probably +$300K this month... increasing to +$600K in Feb and $900K in Mar.... How do you make $300K payment in Jan with no production?  I am saying this given we have been told things were already 'tight' re: cash position and expansion requirements.

"Amounts drawn under the senior facility will now be repayable in monthly instalments commencing in December, 2012, with initial principal payments being $50,000 per month and where such principal payments shall increase to $900,000 per month in March, 2013"

Bullboard Posts
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