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

Comment by toroshtoon Jan 07, 2013 10:09am

224 Views

Post# 20805104

RE: RE: last straw

Waterton's best interest is to let GGN go bankrupt, wipe out all shareholders and keep an asset with 2 million oz on the gound, a brand new facility which they can afford to fund and eventually sell for 10 times what they invested in.

This is the most unlucky news for shareholders. Everything indicated we were on the right track and ready to pop. The info about the drilling contractor ready to drill and the other contractor ready to load the pad may be the reason the sp is not tanking (so far this morning)

Question to the forum: Does ggn has a recourse to borrow from other lenders? Is issuing more stock the only way out? Does Waterton has a right to preclude any deal with an outside lender? It is obvious that GGN cannot make such steep paymentgs of the loan.

It is such a pity that this company has such a bad luck.

Bullboard Posts

Sony’s Alpha 1 II: A new professional photography standard?