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

Post by red911on Feb 18, 2013 9:16pm

214 Views

Post# 21007131

Outlook..

IMO Even in the face of slaughtered share price and failing production and numerous disgruntled shareholders... and after just signing over a 60% interest in the company to a lender who has seized numerous properties over the past couple of years... GGN offered very little in the way of an optimistic outlook or any prospect of news on the horizon that would give anyone reason to buy. Everything is 'in a few months' etc. This with $5.6M due on Aug 1 2013 and no production profile that I have seen from company (i.e. 40% of 2-2.5K oz AU per month at $700 per oz Au) even coming close to enabling GGN to pay it.

JTO said on the call he is confident they will meet all of their obligations to Waterton and maintain their 40% interest... I would interpret this to mean they will pay back the $5.6M in full by Aug 1 2013 and exist as increasingly profitable mine... but does he simply mean meet obligations as in... on Aug 1 2013 we will trigger the dilution formula and gradually lose our remaining 40% interest... No idea... techincally both would be meeting obligations.

Think about it... GGNs 40% interest needs to generate at $8-9M in PROFIT over the next 6 months to meet debt obligations (incl. $400K per month)... that is profit of $20M for the who operation... in 6 months... think about it... barely break-even to profit of $3.5M per month... Seems impossible to me. I stand to be corrected but I certainly did not hear how this was possible on the call.

Bullboard Posts

Rich TV Live's Stocks to Watch this week (June 28, 2024)