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

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Post by controlled.madnesson Jun 30, 2012 5:14am

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Post# 20071622

20 percent discount

Surprised no one has mentioned the cost of the $15 million loan. It seemed great at 5% but I think this is the first time that the 20 percent discount on gold is mentioned plust the cost of setting it up means that the interest that is being paid is around 15 percent per year which seems high. They aslo gave away some shares which should be factored in and paid a sweetener to close the other loans which were 10 percent interest.

I calculate 20 percent discount plus 5% for 2 years plus 1 percent for setting it up and the 1 percent for the bridging loan.

I don't know if this is normal but the phrase that comes to mind is that Waterton had Gryphon by the short and curlies.

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