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 HopToadon Nov 27, 2008 8:30pm

1048 Views

Post# 15615516

RE: general

According to the company's financial statements at 30 September, this company has working capital of about $1,000,000.
The same statements show that Management Salaries and Consulting Fees for the six months ended 30 September were about the same amount ($987,000 actually).
If the pattern continues, this company will be out of cash (that's broke) by 30 April, 2009.
That might explain why the share price seems to melting away towards nothingness.
IMHO, HopToad

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