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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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Post by red911on Nov 26, 2012 3:26pm
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Post# 20645313

1500 oz Au per month...

1500 oz Au per month...

They are now producing 1,500 oz Au per month (as per CEO Nov 15th CC, see below).  This is (should be) a cash flow positive rate.  The only produced 2,300 oz Au in all of Q2 and only lost $1M.  Up production to a rate of 4,500 oz Au per quarter with costs pretty well fixed comparable to Q2 and do the math. 

I really hope we don't now have to wait until mid-Feb 2013 to learn half of Q3 was profitable.  And then mid-May 2013 to hear results of first consistently profitable quarter.  Surely there will be material production news before then?  My guess is mid-Dec operations update announcing permit in place for increased fluid flow, all expansion equip installed or at least on site, and quickly ramping up to projected rate of 2-2.5K oz Au per month rate by EOY.

James O’Neil: "Yes, we should be able to get around 1,500 ounces a month without this permit. That's pretty much where we were in April, May and June."

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