UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 5, 2011
GRYPHON GOLD CORPORATION
(Exact name of registrant as specified in its charter)
Nevada | 333-127635 | 92-0185596 |
(State or other jurisdiction of | (Commission File Number) | (I.R.S. Employer |
incorporation) | Identification No.) |
601 N. Nevada Street
Carson City, Nevada 89703
(Address of principal executive offices) (Zip Code)
(604) 261-2229
(Registrants telephone number,
including area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 Regulation FD Disclosure
The Registrant issued a news release filed herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. | Description |
|
|
99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GRYPHON GOLD CORPORATION. | |
(Registrant) | |
Dated: December 5, 2011 | By: /s/ John Key |
John Key | |
Chief Executive Officer |
Exhibit 99.1
Gryphon Gold Reports Gold Sales
December 5, 2011 - Gryphon Gold Corporation (GGN:TSX; GYPH:OTC.BB) Gryphon Gold is pleased to provide an update of the production activities at its wholly owned Borealis oxide gold heap leach operation.
The first revenue from the sales of loaded carbon was received by the company on December 1, 2011 and December 2, 2011. The payment was received for the sale of loaded carbon delivered to Just Refiners on October 8, 2011 and October 15, 2011. Gryphon Gold received $221,442 in settlement for the first two shipments which totaled 4.423 dry short tons of loaded carbon. The first lot assayed 85.39 oz (gold) per ton and 151.242 oz (silver) per ton. The second lot assayed 44.381 oz (gold) per ton and 119.19 (silver) oz per ton silver. The average settlement price was $1,770 oz gold and $34.15 oz silver.
Four additional lots of loaded carbon have been delivered to Just Refiners totaling 16.32 dry short tons of carbon. Settlements of these lots are pending final assays. Future settlements will not be reported other than in the context of the quarterly financial reports.
Gryphon Gold management projects that the ramp up of production through the end of the year will produce 3,700 gold equivalent ounces and the total estimated production for the 2012 calendar year will be 43,600 gold equivalent ounces. The construction timeline on the Adsorption Desorption Recovery (ADR) plant is on plan with delivery of production modules in December and commissioning of the plant scheduled for February 1, 2012.
Gryphon Gold engaged Capital Ideas Research to implement an investor relations program for the corporation. Capital Ideas will assist Gryphon Gold with its investor relations program, including facilitating investor awareness, designing corporate communications materials and enhancing the corporation's image generally.
In connection with the engagement, Gryphon Gold will pay Capital Ideas $5,000CAD per month for a term of 12 months and grant 150,000 stock options, which are exercisable at a price of $0.27USD under a consulting contract commencing November 23.
For further information please contact:
John L. Key, CEO and
President
1-775-883-1456 jkey@gryphongold.com
Lisanna M. Lewis, Vice President, Treasurer, Investor
Relations
1-604-261-2229 llewis@gryphongold.com
ABOUT GRYPHON GOLD:
Gryphon Gold is a Nevada-focused gold exploration company. The Companys principal property is its Borealis gold project located in the Walker Lane gold belt of western Nevada.
This press release contains forward-looking statements and "forward-looking information" within the meaning of United States and Canadian securities laws, which may include, but are not limited to statements relating to the Companys plans to increase performance at its Borealis Oxide Heap Leach Project; gold and silver assay estimates; expectations related to shipping, delivery, sales and revenue from gold and silver sales at the Borealis Oxide Heap Leach Project; assumptions related to revenue and ability to fund operations, capital requirements and exploration; assumptions related to gold grade and recoverability, success of investor relations programs and other statements relating to plans, estimates, objectives, and timing. Such forward-looking statements and forward-looking information reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risk that additional financing for the development of the Borealis Oxide Heap Leach Project, may be required, and if so, may not be available on terms satisfactory to the Company if at all, risks associated with the start up of mining operations, and the risks and uncertainties outlined under the section headings “Forward-Looking Statements” and “Risks Factors and Uncertainties” in the Company’s annual report on Form 10-K, as filed with the SEC and Canadian securities regulatory authorities on June 30, 2011, and in the Company’s other reports, documents, and registration statements filed with the SEC (available at www.sec.gov) and with Canadian securities administrators (available at www.sedar.com ). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. The Company does not undertake to update forward-looking statements or forward-looking information, except as may be required by law. Full financial statements and securities filings are available on the Company’s website: www.gryphongold.com and www.sec.gov or www.sedar.com.