Gryphon Gold Corp GYPHQ

RE: RE: RE: RE: NEWS!

[red911]

GMP is the only reason I am still here quite frankly.  Based on my own research (and as I have posted here numerous times) they seem to hold a significant equity interest and to see them continue to accumulate even after the last horriffic conference call does give this very discouraged longtime shareholder some hope.

As a sharehlder, the information unearthed in the last conference call re: GGN allegedly ignoring GMPs attempts to offer financing if and when needed was beyond concerning.  The ink still wet from the just signed emergency JV/sale to Waterton and associated dilution terms and shareholders learn another large sharehlder had been allegedly courting GGN for months offering a source of financing if and when needed?  Why were those alleged advances by GMP allegedly ignored by GGN?  I believe JTO stated on the call they didn't think they would get enough money, or somethig like that.  I guess we'll never know.

As far as I can tell from reading financials and news releases, by the end of the final quarter of calendar 2012 GGN was not profitable, had not started new ore mining, had not received desired permits, had not completed communicated production capacity improvements, had increasing debt obligations due in the months ahead BUT apparently did not need more cash from GMP.  During that same quarter I was actually told by the company that they were exploring several sources if additional funds were needed.  About a month later the 'boiler failure' caused the emergency agreement with Waterton.  I often wonder how they expected to make the increasing debt payments to Waterton even without the boiler failure?  Was that even possible at that time?   And if not why would you not need or prusue other financing options?  Especially if there were large shareholders knocking on your door.  Makes you wonder.