GRY - Gryphon Minerals

[shag]

well i finally got refund cheques n stock listed
like i said these spp's have been sooo sloppy, it clearly said double dipping like me was a no go, ie two accounts thus two entitlements.
holding 30k of my valuable aussie curency for a month didnt impress me either.
i guess the third party companies that run the spp's for them don't care bar their profits....

 

[Sean K]

This looks like it might be a decent discovery.

They really should start working more aggressively towards mining what they have. They damn well know there's more ounces to keep any centralised mill going for years.

Race to mining or miss the boat!!

Weren't they supposed to start Mauritania yonks ago? ...


Multiple shallow mineralised zones discovered at Samavogo Banfora Gold Project, Burkina Faso include:

6m @ 9.89g/t gold from 13m 10m @ 5.14g/t gold from 67m 7m @ 4.80 g/t gold from 38m

Highlights

 Follow up drilling at the new and exciting Samavogo “satellite” discovery has intersected further significant gold mineralisation.
 Results are from infill and down dip drilling targeting multiple mineralised zones over 2.5km of strike.
 Mineralisation remains open along strike and down dip with a further 12 kilometres strike of the Samavogo structural target still to be tested.
 Mineralisation dips at a very gentle angle (20 degrees) thus all results to date are typically less than 50 meters vertical depth and open.
 Further results from the ongoing drilling at Samavogo will be made available at the earliest opportunity with a maiden resource estimate anticipated in the first half of 2011.
 An aggressive exploration programme is currently underway with RC drilling at the Nogbele deposit, 4 x RAB and auger rigs testing new regional targets across the 120 kilometres of highly prospective shear zones at the Banfora Gold Project.
 Mauritania projects update: Aggressive exploration program to commence in January 2011 including aeromagnetic surveying, soil geochemical sampling, geological mapping and diamond drilling.

 

[Sean K]

Oh dear, market is expecting big things from this little plugger. Certainly have 2-3m oz in the ground but probably being tipped to have much more at this stage.

Great break up through the 1.60 ish mark!

 

[Sean K]

This looks like it might be a decent discovery.


Multiple shallow mineralised zones discovered at Samavogo Banfora Gold Project, Burkina Faso include:

6m @ 9.89g/t gold from 13m 10m @ 5.14g/t gold from 67m 7m @ 4.80 g/t gold from 38m.

Looks like it's going to turn into a few additional ounces.

Maiden resource to be announced shortly. That's quick!

Further drill results at Samavogo Banfora Gold Project, Burkina Faso include: 10m @ 6.21g/t gold from 93m 6m @ 9.41g/t gold from 102m 5m @ 11.23g/t gold from 131m 7m @ 4.92 g/t gold from 131m

Highlights
 RC & DD drilling at the new and exciting Samavogo “satellite” discovery has intersected further significant gold mineralisation
 Results are from step out, infill and down dip drilling targeting multiple mineralised zones over 3km of strike
 Mineralisation remains open along strike and down dip with a further 12km strike of the Samavogo structural target still to be tested
 Mineralisation is shallow and so far has been drilled to approximately 100 metres vertical depth
 A maiden resource estimate due shortly at the Samavogo discovery
 An aggressive exploration programme is currently underway with RC/DD
drilling at Samavogo and Nogbele deposits, RAB and auger rigs testing new regional targets across the 120km of highly prospective shear zones at the Banfora Gold Project
 Mauritania projects update: Exploration program has commenced including aeromagnetic surveying, soil geochemical sampling, geological mapping and diamond drilling

WTF with Mauritania! They said 'drill ready targets' at the acquisition. You don't need aeromagnetic s for 'drill ready'.

 

[Sean K]

One of the most canned stocks the past few days. Why? Not sure.

Maybe POG, economic environment, politics, low liquidity.

Taken far too long to get to development.

Seems like they are mining the stock market, or incompetent.

 

[Bigukraine]

One of the most canned stocks the past few days. Why? Not sure.

Maybe POG, economic environment, politics, low liquidity.

Taken far too long to get to development.

Seems like they are mining the stock market, or incompetent.

long time no see kendas,

got out of this in the early days when it hit a $1.30 ish and yes agree the world where it is at the min is the problem and the speccie sector if it isn't giving info or has delays it is getting punished badly.

best of luck anyway....

 

[Sean K]

long time no see kendas,

got out of this in the early days when it hit a $1.30 ish and yes agree the world where it is at the min is the problem and the speccie sector if it isn't giving info or has delays it is getting punished badly.

best of luck anyway....

Bounced OK, but geeeeesh, the market is just so volatile and running on the slightest emotion. But I guess the EW guys could have predicted it.

 

[Sean K]

Gryphon well into the DFS for a 200k pa mine. Can't remember prelim numbers on likely opex but should be well within the POG you'd imagine. Maybe a $1000 per ounce win.

Some great new results out. Should be a very good upgrade coming with these sorts of grades in the early pit.

 Results include:
16m @ 8.61g/t gold from surface
17m @ 6.85g/t gold from 22m
20m @ 4.45g/t gold from 40m
12m @ 1.47g/t gold from 76m
20m @ 3.94g/t gold from 64m
12m @ 4.24g/t gold from 112m
12m @ 4.00g/t gold from 144m
7m @ 10.98g/t gold from 95m
4m @ 16.37g/t gold from 72m
2m @ 94.29g/t gold from 123m

.....targeted multiple parallel, shallow and Mineralisation at the Nogbele Deposit remains open along strike

 Next resource estimate calculation on track for the second quarter CY2012 will incorporate all drilling results.

 Definitive Feasibility Studies based on a 3.5mtpa operation for 200,000oz gold on track for delivery in the third quarter CY2012.


They need to get this to production asap though. Been dragging their heals imo.

 

[pixel]

funny you should add to this thread today, kennas;
I've been running one of my early-warning scans over the ASX (because most confirmed trend reversals are already in full swing) and I reckon it could earn its place on next week's shopping list:



Bounce off the psychological $1
last 3 months smell like some accumulation going on
about a quarter of issued shares have been turned over since mid-November;
although much of that would be churning, it seems logical that no more could be shaken out at lower levels. So accumulation should be finished and sp return back up. Target the gap?

 

[mr. jeff]

Good results and good prospects for gold production. 87M in cash approx. at Dec but take costs to date and PIR buying, probably means 60M now from what I could see so no danger of cap raising yet...

I would like to add some charts to the analysis of recovery signs:



No signs of major finishing volume yet, but a lot of turnover. In a downtrend still but the last week as you say has shown some interest though and may mark a bottoming. Potentially looking at 90c though.



A lot of selling evident. Only the last bar looks positive...and that is lightly up on large volume so not a great sign.



GRY have done PIR plenty of favours recently by taking a stake.

Prospective, great ground and upcoming mid tier producer. Showing potential, but at 400M MC, not ridiculously cheap. DFS will most likely either confirm sell down, or turn the trend up. Watching!

 

[Xcellent]

Hi guys, where can I find information about royalties cost, cost of production and capital cost of the project? I’m trying to working out the NPV. Thank you.

 

[mr. jeff]

Hi guys, where can I find information about royalties cost, cost of production and capital cost of the project? I’m trying to working out the NPV. Thank you.

You'll have to look through their more recent announcements, try a quarterly or a production report. Any problems, let me know.

 

[shag]

Hi guys, where can I find information about royalties cost, cost of production and capital cost of the project? I’m trying to working out the NPV. Thank you.

royalties might b your neck in west africa
taken a bath on this one. the graph said it all.
be nice if it was reported on a bit more.
very slow as kennas noted. u're stupid if u're not shifting gold, sitting on such resources, in current circumstances. its obviously rather easy in this region.
even pru followed thru.
its not ideal mining engineering-wise, but cook while the fires on.

dml followed this strategy with its cu n ag strikes down south.

 

[Sean K]

royalties might b your neck in west africa
taken a bath on this one. the graph said it all.
be nice if it was reported on a bit more.
very slow as kennas noted. u're stupid if u're not shifting gold, sitting on such resources, in current circumstances. its obviously rather easy in this region.
even pru followed thru.
its not ideal mining engineering-wise, but cook while the fires on.

dml followed this strategy with its cu n ag strikes down south.

Like AZM, have failed to strike while the gold (and cheap money for development) was hot. Still a chance to develop a mine while POG is still high but if the US turns around and stops printing money I don't know. Gold will crash if fiat currancy seems to work. GRY should have been well producing by now but I think they've started mining the market instead of mining the dirt.

 

[Sean K]

Some new decent drill results. Stinger should add quite a few ounces, but they just need to get a resource done and start digging! It's been years since they should have been ready to go.

Get to production or die GRY!

ASX Announcement and Media Release
2 July 2012

Stinger Target
Banfora Gold Project, Burkina Faso

 Results include:

BNRC2629 16m @ 1.20g/t gold from 52m
and 10m @ 8.67g/t gold from 141m

BNRC2630 34m @ 1.20g/t gold from 10m
and 20m @ 3.02g/t gold from 110m

BNRC2991 11m @ 2.00g/t gold from 104m
and 17m @ 4.26g/t gold from 261m

BNRC3259 16m @ 3.17g/t gold from 4m
BNRC3258 8m @ 6.42g/t gold from 24m

 

[Sean K]

Very good upgrade.

Doubled the resource but this is probably in line with general expectations.

ASX Announcement and Media Release
9 July 2012

Resource estimate at Banfora Gold Project increased to 4.5Moz Gold

Including 56Mt @ 2.0 g/t for 3.6Moz gold (at the 0.9 g/t gold cut off)

with an additional
49Mt @ 0.6g/t for 0.9Moz gold of potential heap leach material at the Nogbele gold deposit
(between the 0.4g/t and 0.9g/t gold cut offs)

Turning into a significant deposit.

 

[Sean K]

Chart wise looks to have stabilised and MACD looks promising. 0.60 looks like a potential bottom, 0.80 big resistance. WAY off highs. Really smashed the past year. And POG has only come off a bit comparatively. I think the political situation in W Africa has been the prime driver of WA goldie sentiment. i.e., bad bad bad. I don't think the world is thinking that the world economy has settled and the US won't do a QE3. In fact, my read is the opposite, which is supportive of POG. So, is the world wrong in destroying WA gold companies? Hm. Is this an opportunity to buy something with clearly a long term prospect to mine something at a depressed price, or is this going to go into administration?

I think we need to revisit the WA gold stock reckoner to see where this sits in comparison with others mining or about to mine like RSG, PRU, AZM.

GRY have 348m shares on issue @ 0.70 = $243m MC
3.5m ounces = $69 an ounce resource to MC.

They also have $67m in cash and investments so EV to oz au = 243 - 67 / 3.5 = $50 ounce to EV.

Need to test that against peers to see where it sits.

With 3.5m oz confirmed it's hard to see these guys not going to production. Especially with OK grades at/near surface.

 

[Sean K]

I think we need to revisit the WA gold stock reckoner to see where this sits in comparison with others mining or about to mine like RSG, PRU, AZM.

GRY have 348m shares on issue @ 0.70 = $243m MC
3.5m ounces = $69 an ounce resource to MC.

They also have $67m in cash and investments so EV to oz au = 243 - 67 / 3.5 = $50 ounce to EV.

Need to test that against peers to see where it sits.

With 3.5m oz confirmed it's hard to see these guys not going to production. Especially with OK grades at/near surface.

Comparing with AZM as a near peer. i.e., advanced exploration.

333m on issue @ .15 = $49m mc
1.7m oz au = $28 an oz to MC
Cash and investments = $30m ish
EV to resource = $11 an ounce.

Hm, maybe that cash is incorrect, I'm just going off their last presentation.

AZM looks cheap on that, even though they've got a much smaller resource.


Well, a premium to GRY on that comparison.

 

[Sean K]

Chart wise looks to have stabilised and MACD looks promising. 0.60 looks like a potential bottom, 0.80 big resistance. WAY off highs.

Can't get excited about this until it looks cheaper on the peer comparison or it gets some energy behind a break through .80. Until then risk to the downside still really. Needs POG to look good again I think.

 

[pavilion103]

Strong volume and movement today