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

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Comment by red911on Apr 26, 2012 8:05am

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Post# 19837624

RE: RE: RE: RE: RE: RE: RE: Gryphongold.com

Spec... re: "Red you injected the word "at" market rates, in the 8K it says "based" on market rates, I hope its nothing to be concerned about. I wish they would have just attached the whole agreement for transparency."

You are right I did say "at market rates" when the document indeed says "based on market rates". However, I would tend to think the "based on market rates" refers to some standard formula in the industry for companies selling dore bars that is based on the market price for POG but depends on, namely, purity of the dore bars produced. For sure we are lacking details here and the complete agreement would be nice to see. At the very least we should know the price/formula for the gold we will be selling above and beyond the debt obligations. All we can do at this stage is believe our new CEO and BoD have our best interests in mind and that this deal will finally lead to at least some shareholder value creation... That is the name of the game here isn't it?

Again, we are due for news or at least some sort of update. The ADR should now be complete complete... as in fully commissioned... and there should have been more than a few dore bars poured by now. I still maintain the recent silent period was to ensure Waterton and Acumen deals were completed without a hitch. I think other than official exchange approval that is now complete... although I did see Acumen noteholders will not be officially paid until first week in May. Either way one would expect news to come within the next 2 weeks at the latest IMO. Maybe sooner... and there should be lots of it.

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