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 30, 2012 8:58pm

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Post# 19854391

RE: Mineral Ridge Stake Sold

So... 30% of Mineral Ridge bought by Waterton for $9M at their own auction and there were were no other bidders. An artificial value at best but values Mineral Ridge at $30M. Seems like quite the steal but given small stake, covenants etc. not surprised there were no other bidders. SGN market cap currently about $100M... 70% stake and operator status. Again makes GGN market cap of about $30M seem rather ridiculous... that is assuming production exists in some sensible form... which we really don't know though I guess. >

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