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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 Feb 21, 2014 1:03pm
211 Views
Post# 22235514

Arrogance..

Arrogance..Really?  Waterton offers to Chaparral Gold (TSX: CHL) for $58.8 million (50¢ a share)... Are you serious?  Has to be a joke.  

CHL.t has Nevada resources 6.5 MILLION OZ M&I Au according to website and had working capital of $59.7 million, including cash and equivalents of $49 million at the end of 2013. 

Therefore, they are basically placing value $0/oz Au on resources in the ground and INSULTING shareholders with an offer equivalent to working capital position?  Amazing.

"Waterton believes the premium, the immediate liquidity and certainty of value its offer represents, the fact that it is a fully financed cash offer, and the low likelihood of a competing offer will prove “attractive” to Chaparral shareholders." LOLOL

Stand strong CHL.t shareholders.  Make them pay.

red911

https://www.miningmarkets.ca/news/private-equity-fund-launches-hostile-bid-for-cashed-up-chaparral-gold/1002920689/?&er=NA

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