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 Kiwi3on Feb 14, 2014 8:24pm

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Post# 22212962

RE:No body's making any money

If I remember the grades on the Freedom Flats dumps were .026 oz/Au and .078 Ag with 40% recoveries. If they got into the South Block oxides it would be .034 oz/Au and.103/Ag at 75% recoveries. Since no one tells us what they are processing we have no idea what all this is but I think the recoveries are much higher as they improved the processing. They should be recovering between 18,000 and 36,000 oz Au eq. This would give them about $ 15 million annual cash flow, going up. After all the capex and everything else they will only generate net cash of about $ 86 million on the oxides. Oh, I forgot the oxides are about 15% of the deposit. Do not ask why Waterton does not give up-why pay for it when you can steal it. By the way anyone who thinks you cannot process sulphides economically send me an email. You are in for a surprise-a lot of people are doing it and do not talk about it and in Nevada. Kiwi

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