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Gryphon Gold Corp GYPHQ

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

Bullboard Posts
Post by red911on Jun 21, 2013 8:48am
123 Views
Post# 21564989

Borealis Gold Sales...

Borealis Gold Sales...

Since SIMULTANEOUSLY signing the SENIOR CREDIT FACILITY and GOLD STREAM agreements in about Jan 2012, Waterton has been purchasing every single ounce of gold produced at Borealis at a discount... and has the right to do so from now UNTIL THE END OF TIME as far as I can tell.  Anyone else find it more than a little odd GGN would have agreed to a loan with +20% interest AND sign away their ability to sell gold in the free market for everyone to see?  Acumen and Roth financing did not require such terms IMO.  It's not like they pre-sold a certain quantity for a pre-determined amount of time or at a pre-determined discount in exchange for cash... I have seen many such mutually beneficial agreements... but GGN agreed to a loan at +20% interest AND in a seperate agreement agreed to sell ALL of the gold produced at Borealis to Waterton at a discount.  Why?  Just saying.

Bullboard Posts