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 Feb 06, 2013 9:54am

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Post# 20945492

Budget...

Let's see it... initial budget for Borealis... referenced in SEC documents... 'attached' but not included in these electronic files...

Let's also hear how they expect to pay $5.6M in debt plus interest by July 31, and make $400K permonth debt payments, and make rqruied capital contributions... THAT IS THE QUESTION THAT NEEDS TO BE ANSWERED... previously 'increased production' was going to give GGN the ability to meet its debt obligations... now it would seem even the most optimistic production assumptions will not enable GGN to pay this debt... so how will it be paid?... IMO that is causing a very high level of uncertainty here and that is claerly being reflected in the share price.

If they would answer this question I actually think this agreement could work well going forward.

Schedule 14.1.2

INITIAL BUDGET

[see attached]

14.1.2 - 1

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