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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Comment by metcoalfanon Jan 13, 2014 3:37pm

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Post# 22086186

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Chapter 11 Update?...

My guess as to the reason that Roth produced a heavily qualified opinion that ignored issues of solvency is because they had to - they wanted the hefty fee but didn't want the exposure of anything but a fluffy piece that didn't commit to much of anything. Somewhat of the ideal situation for a '2004 Examination'. Depositions of O'Neill, the rest of the Board, the guys at Roth that wrote the report, Waterton employees, Gryphon employees. BK court is ultimately a court of equity (not a court of law - subtle but important difference). If there is a long parade of stink, judges have fairly wide discretion. Still a long shot - biggest hurdle will be getting the trustee to agree to accept the 500k loan to fund the examination process.

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