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 Sep 13, 2012 10:29pm

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Post# 20361033

RE: RE: RE: RE: RE: RE: RE: RE: qe3 passed

Why wouldn't Waterton want this property for themselves? A default would conveniently result in all existing GGN shares and shareholders claim to this property to disappear. GGN will need to pay ~$1.5M per month starting in May 2013 topay back this loan. That translates into 1500 oz Au (assuming netting $1000 per oz Au). Given they are only now producing 1000 oz Au per month and are only projecting 2500 oz Au per month by EOY, there is not a lot of wiggle room or cash flow remaining for other things going forward. So... in the absence of anything from mgmt beyond EOY and Waterton connection it is not surprising no one else interested here. If SGN comes knocking I will be listening because quite frankly at least they seem to release news and regularly update their shareholders. What a concept! LOL. Seriously just looking for something positive here. It is PAINFUL to hold this ticker.>

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