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Gryphon Gold Corp GYPHQ

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

Bullboard Posts
Post by red911on Jun 03, 2013 8:46am
146 Views
Post# 21474602

JTO Quote...

JTO Quote...

Direct quote from JTO in this 2013 Nevada outlook document... See link below page 32-33.

"This should raise production from 15,000 to almost 40,000 ounces of gold per year. The expected price per ounce should be of $700,” said O'neil of Gryphon Gold."

40,000 oz Au per year?!... Not surprised but why was this number NEVER shared with shareholders? I stand to be corrected but I have never seen or heard this annual production number stated in an official GGN release.

So... As this currently stands Borealis is on track to produce 40,000 oz Au at $700 per oz Au... i.e. generate $28M in cash in the coming months... YET GGN shareholders (who have already been diluted out of 62% of Borealis) are facing the very real prospect of losing their entire ownership stake in Borealis over the next few months... Likely just weeks before extreme profitability... Really?... Really? Is that really what has happened/will happed here?

WHAT IS THE PLAN FOR THIS COMPANY? Anyone?

Page 32-33:

https://www.globalminingfinance.com/nevada-2013/documents/GMF-2013-Nevada-fullbook.pdf

Bullboard Posts