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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
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Comment by red911on May 02, 2012 5:42am
278 Views
Post# 19860091

RE: RE: RE: RE: RE: RE: RE: RE: $$$$

RE: RE: RE: RE: RE: RE: RE: RE: $$$$Re: balance sheet... Simplistic analysis of yesterdays NR... In April... their first 'real' month of startup production...1373 oz Au produced = $2.2M in gross revenue. We were told in Feb they needed to produce approx. 1000 oz Au/month at 1500 $/oz to be cash flow positive. That would imply production costs for a typical month are estimated at about $1.5M. That leaves about $700,000 EBITA for the month of April... the first real month of production... and production expected to effectively double over the next several months.Like I have said RC drilling is cheap and quick. There is no reason not to proceed with moderaterly aggressive drilling at this stage given impact such drilling could/will have on resource estimate. IMO no better way to add value now that production progressing. If the plan is to grow this company they have to drill sooner or later.>
Bullboard Posts
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