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 Jan 30, 2013 9:29am

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Post# 20910398

RE: RE: RE: RE: RE: RE: ANV audiocast

When we were told of the boiler failure (Jan 5th) they also explicitly told us they were still loading the expanded pad... no mention loading had stopped. Or at least that is how most would interpret "We are loading the expanded heap leach pad"... "are" as in present tense... as in currently... no? Subsequent release said they continued to circulate solution. So gold sales should have been delayed but gold production should not have taken a huge hit... if I interpret their NRs correctly. That said, they were expecting to be back in full operation and stripping/selling the "backlog of gold" circulating in solution by now.

red911

"Donald B. Tschabrun, chief operating officer of Gryphon Gold, commented: "The failure of the ADR facility's boiler has impacted production as we are unable to properly heat the strip solution which enables us to extract the gold. A replacement boiler is currently being inspected and, should it pass inspection, we anticipate it to be delivered, installed and operating by month-end provided we are able to continue to fund operations. We are loading the expanded heap leach pad, have installed the conveyor system and are completing the installation of the new crushers. We also have heavy earth moving equipment on-site and a drilling and blasting contractor lined up. At this time, we expect to start moving new ore to the expanded pad starting in February. Because of the boiler's reduced functionality and ultimate failure, production in December and January has been impacted. We have cut back measurably on our operating staff in the meantime to reduce costs." "

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