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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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Comment by Kiwi3on Mar 10, 2013 7:26pm
106 Views
Post# 21108479

RE: RE: RE: Crickets...

RE: RE: RE: Crickets...

Red. Right now my major concern is: Are there alternatives to putting in the $ 8 million or so, as if not we do not have much time. As far as history the first step is to skin Mr Kaiser with Mr O'Neil watching and then move to Mr O'Neil. If he opens up he saves his skin.

If Waterton takes the rest of the ownership it will be at such a cost that they will not want it and all the directors will be part of the take down including Mr Cryan. I have lost money on this and will invest in recovering it out of the hides of Mr Kaiser, Cryan and O'Neil. Company indemnification will not help them as it will be a derivative suit that works in Nevada.They can save themselves by convincing Waterton to back off on the deadlines and preserve the 40%. Then it will get left alone if all but Mr O'Neil resign immediately. Otherwise they get tagged and the royalty goes to 16% permanently.

This is going to get really nasty very soon. The only answer to avoid this is than the shareholders, Waterton and the royalty holders work together. Waterton appears to be good a operating partner so why create an unnecessary confrontation just to satisfy a few directors power tripping.

 

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