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 31, 2013 9:31pm

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Post# 20921320

RE: RE: Same old same old?...

That's my point... even if they started producing 2500 oz Au per month at cost of $700 per oz Au tomorrow... that nets $2.5M per month... GGNs 40% share is only $1M per month... they need at least $1.5M per month... it doesn't add up using even the most optimistic metrics they have communicated. And all this assumes production and costs ramp up/down starting tomorrow. Maybe I am missing something. Surely they haven't been lowballing expectations here for the past year have they? And now all of a sudden they can do 40-50K oz Au per year? No that wouldn't happen would it? Didn't previous PFS say production in that range?! Either I have made a mistake here, it is impossible for GGN to meet pymts and they know it, or they have been purposely lowballing production estimates IMO. Now why would they do that?>

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