Yes, very strong. Resistance from 95c though.Juicy, classic breakout from very clean double-bottom/channel. Plenty of meat on this up to 99c or even further up to 1.20.
If you want to be extra careful, you could put a bid in at 81.5 and hope for retracement.
Juicy, classic breakout from very clean double-bottom/channel. Plenty of meat on this up to 99c or even further up to 1.20.
Yes, very strong. Resistance from 95c though.
LOL, hit 99 for a second. Did you push it to that? Didn't really look like 1.20 on the chart in retrospect did it.99c. A fall below 90 would make 1.20 less likely.
ASX Announcement and Media Release
Tuesday, 13 November 2012
Ongoing shallow infill and step out drilling highlights further multiple high grade gold mineralisation from the Stinger gold deposit and adjacent new parallel mineralised zones at the 4.5Moz Banfora Gold Project.
Results from infill and step out drilling at the Stinger gold deposit include:
12m @ 8.67g/t gold fr 4m
12m @ 6.76g/t gold fr 56m
22m @ 3.19g/t gold fr 119m and 1m @ 16.48g/t gold fr 67m
16m @ 3.24g/t gold fr 108m
5m @ 15.71g/t gold fr 103m and 12m @ 1.75g/t gold fr 138m
5m @ 10.70g/t gold fr 150m and 5m @ 3.60g/t gold fr 300m
Results from the new adjacent step out parallel zones include:
3m @ 38.04g/t gold fr 52m and 6m @ 4.36g/t gold fr 58m
8m @ 7.09g/t gold fr 53m
8m @ 6.93g/t gold fr 38m
Bankable Feasibility Study Demonstrates Viability of Developing Banfora Gold Project, Burkina Faso
Highlights
Bankable Feasibility Study (“BFS”) demonstrates the viability of developing the Banfora Gold Project to be the next gold mine in Burkina Faso.
BFS based on a conventional 2Mtpa CIL processing plant and open pit mining operation using contractor mining, up-scalable to +4Mtpa.
Construction period of 15 months with first gold anticipated in Q4 2014.
BFS supports a maiden Ore Reserve estimate of 1.05Moz of gold1.
Banfora Gold Project global Mineral Resource estimate increased to 4.9Moz gold1.
90% of the Resource and Reserve estimates are shallow - above 150 metres depth and remain ‘open’ - strong likelihood for further increases through ongoing drilling.
Work continues on delivering on the project’s huge potential upside with the option to expand the plant to +4Mtpa in addition to drilling aimed at further increases in resources and reserves and new discoveries.
29 July
Gryphon Minerals Limited (ASX:GRY) announces that Mr David Netherway, Ms Andrea Hall and Mr Michael O’Neill have agreed to resign as Directors of the Company, effective 31 July, as part of the Company’s cost reduction program.
In addition, the Company also announces the agreed departure of Ms Beth Michetti as Chief Financial Officer, Mr Alex Eastwood as General Counsel and Mr Michael Fox, Chief Exploration Manager, effective 31 July.
Mr Mel Ashton, Non-Executive Chairman said “On behalf of the Company I would like to thank the departing members of the Board of Directors as well as the senior staff for their devoted efforts during their time at Gryphon which have made a valuable contribution in advancing the Banfora Gold Project towards development and I wish them all well in their future endeavours.”
He added “Going forward Gryphon remains in a strong position, with cash of $52 million, a world-class resource base at the Banfora Gold Project and a restructured Board and Executive Management Team that has a broad set of skills and experience, including recent financings and building mines in West Africa.”
Furthermore, the Company announces as number of major cost cutting initiatives have been implemented across the entire Company, including:
a reduction in the remaining Non-Executive Directors Fees by 20%;
a reduction in the Managing Directors’ base salary by 20%;
a reduction in base salary of several other key executives and/or fully paid
shares in lieu of a reduction in base salary;
the Short Term Incentive Plan for the upcoming 2014 financial year has
currently been suspended;
suspension of all drilling, with field work now limited to low cost target
generation with our ‘core’ world class exploration team;
retrenchment of over 75% of personnel across the company including
exploration and field staff;
a reduction of approximately 45% of staff and contractors in the Perth head
office; and
placing the long lead single stage milling circuit (SAG Mill) on standby, deferring
an $8 million cost.
These guys have just given up.
I suppose this just goes into mothballs until gold goes back above $1500 ish...
Yes, there's some easy pickings out there at the moment if POG recovers, or OPEX goes south considerably. Junior goldies trading at about $5 an ounce at the moment, v $40 not long ago.Dont know about given up.
Certainly a trim all excess costs, put the feet up a while decision.
Maybe some time for the boss to consider his err..portly salary!
Hopefully still a take over target for a major goldie who still has a few bucks left in the till
Bought 40K shares @ 0.185 today, over looked stock in my opinion, similar to SAR but just not been noticed.
We'll see I guess.
... i wonder why its overlooked? ...
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