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

Comment by archimedes0070on Jan 17, 2011 10:43am

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Post# 17983300

RE: Phase 1 Value...

red911,

Thank you for the calculations.

You may want to recalculate with the top tiers: Reserves (Proven & Probable), Resources (Measured & Indicated, Inferred). That is: it appears the M&I were skipped here.

Also, the calculations ought to add in the $8m in cash:

$36m ($50 conservative multiple) + $8m (cash) = $44m

$44m/118m =
.37/share.

Everything else you mentioned is also correct; i.e., this is just Phase 1, etc.

Bullboard Posts

Mullen Group's Robust Case for Value, Part 1: Less-than-Truckload