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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Post by red911on Feb 21, 2013 11:45am

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Post# 21022866

JK-JTO...

It would seem JK was fired for startup issues that were allegedly tied to three specific issues: wrong pump, overliner contractor issues, and crusher breakdown. FOR THE PAST YEAR since the departure of JK, 'construction interruptions' related to expansion projects has been the go-to reason production continues to disappoint. Expansion projects seem to have been more important than becoming cash flow positive. Still trying to figure out WHY you would build an expanded pad with all associated costs and bonding requirements BEFORE you start new ore mining on your original pad... details details. Anyhow, add 'weather' and 'equipment failure' to the list in recent weeks and it would seem GGN has had luck worse than death over the past year and a half. Lots of 'experts' but little execution IMO. Why would the BoD let this go on? Aren't they there to ensure shareholder value is created not destroyed? Wasn't JK fired for less? Why, after more than a year, of dwindling share price, disappointing production, little to details or news regarding production, do we still have the same mgmt group running this company? BoD included. It's time for a change IMO. According to JTO the company is on sound footing until at least July 31st when the debt is due... no capital calls expected and production anticipated to be much higher... lots of time to get a new group in here and clean this mess up. JMHO.

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