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.

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Gryphon Gold Corp

Bullboard Posts

Comment by DetVicMackeyon Feb 07, 2011 10:40am

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Post# 18086388

RE: Price?...

For the weekend, I was a little worried about my Jan 25 post being totally incorrect. It's a bit of a relief that Ms. Lewis wasn't just throwing out a blind pitch to me so I'll give her a score on credibility despite the financing announcement coming 1 business day late.

Anyone with more experience than me at this know the next steps we should expect here? What price?

From my limited financing observations, this is where things things get interesting. First it is important to see what the final prospectus will be. Currently there is no issuing price or number of shares outlined in the preliminary. The next big step is closing the offering in full to make sure Borealis if fully funded to go back into production. The speed of close is very important because it indicates how much interest and conviction the investors have on the project. Speed also determines if the project remains on schedule as well. Usually a company seeking financing already knows some, if not all, of the participants.

Is it still possible this will be scooped up by one single entity or is that completely off the table now?

Another thing to watch is who are the buyers. An endorsement by Sprott would be very bullish going forward in my opinion. Having several entities taking part in the offering is less preferable, but still positive since it means that the project is a go.

Could we see it oversubscribed or is that not possible now?

This would depend on the terms of the final offering. Management along with its advisors are probably in the process of finalizing terms to make it worthwhile for all parties involved.

How does filing a prelim-prospectus differ from a regular PP?

Mostly it is of legal formalities. Share count will likely exceed 25% from the financing if approved and closed.

This is all in my opinion. A good due diligence assignment would be to contact Ms. Lewis for more info.