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 red911on Nov 13, 2012 7:50pm

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Post# 20596209

Prospectus...

Ok... There was a prospectus filed on Oct 24th for about 18M shares represented by warrants issued previously. There are many references to 'selling security holders' in this prospectus which would make one believe this is a secondary offering for the shares represented by these warrants. 15M of these warrants/shares are held by Waterton. About 3M of the remaining shares/warrants are owned by numerous other accredited investors who participated in a GGN placement in January 2011. These 3M warrants expire in January 2013 and have an exercise price of 30 cents. Question: Why issue a new procpectus for warrants/shares that were the subject of a previous prospectus in Jan 2011 and are set to expire in 2 months? Is this a secondary offering prospectus and there will be an offer to 'selling security holders' to buy these 18M shares/warrants? Quiet in here for sure.>

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