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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 Jan 31, 2013 1:47pm
168 Views
Post# 20918791

Wash, Rinse, Repeat...

Wash, Rinse, Repeat...

My take...

GGN signed a JV deal with Sage Gold back in 2010... 50-50... about half the shares out then but GGN was still only trading at about 12-13 cents... a wash really... the deal ultimately failed.  This agreement with WGV not really much different except we now have much of the infrastructure in place to finally start new ore mining, have learned a lot (presumably) about the property, and now have a partner with the skills, expertise, and financial backing required (unlike Sage Gold).  If the original deal with Sage Gold went ahead in 2010, GGN would arguably be in a similar position today re: share count and would have likely went through similar growing pains.  Would share price be where it is?  No idea.  So all in all... likely the best outcome here and probably not much different than if previous deal went ahead.  I guess now we know why Sage Gold ran for the hills after hiring SRK to do a BFS that was never completed. 

Anyhow... Take the Waterton 'emotion' out of this and IMO this is could be a very good deal for GGN going forward.  That said, after all the false hopes here I will now believe it when I see it.  I would like to see some equity support in the meantime and unless the previous Jan 15th news release was completely untrue we should hopefully be getting a relatively positive update soon and announcement of a return to normal operations.  They have been advanced cash where is it going?  Also expecting our regular Feb 15th call to be announced soon. 

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