RE: $15M...https://www.sec.gov/Archives/edgar/data/1262751/000091228212000373/gryphon8k_04242012.htm
"The full $15M was advanced to the Registrant on April 19, 2012"
They only needed $9M to consolidate debt from existing noteholders ($3M+$4.5M) and bridge loan ($1.5M). Plus some working capital of say, $2-3M... Total $11-12M. Why advance to entire $15M now unless you have something specific to do with it? This on top of the fact that we should now be at least cash flow positive (if not significnatly cask flow positive) if any of the original production estimates were worth the paper they were written on...
https://www.gryphongold.com/_resources/ggn_ppt_dec_2011.pdf
@ $1600 POG... 43,600 oz/year... $400/oz cash cost... +$50M net revenue... Sure there have been delays but why should we not expect these type of production numbers to materialize?
Maybe they do have an immediate use for the extra $3-4M they have tapped from the secured facility... expansion, massive drilling, acquicition... no idea. Getting old having to discover info buried in SEC filings... let's see some real news releases.
red911