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

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Comment by red911on May 29, 2013 8:12pm

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Post# 21457981

RE: Sold

Isn't all that is required to secure the remaining +35% stake a refinancing of the existing $5M or so debt due July 31? The JV was what was disgusting here IMO. 60% interest in a producing gold property just months from significant profitability 'sold' to Waterton for $15M under the disguise of a JV. The same $15M that went towards all the brand new infrastructure on site. NOT ONLY THAT but then they also left shareholders with conditions to retain their 40% interest that were impossible to meet under existing production plan. You dont think they knew that?! Our BoD and CEO should have known it. Great partner to have! Brutal. How did our BoD agree to this when there was apparently a lender courting the company for fiancing if it was needed FOR MONTHS. Oh yeah right then the boiler broke and caused and 'emergency'. Sure. >

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