Sounds very tempting, but it is important to define your...

Sounds very tempting, but it is important to define your resources near the proposed minesite.

It is a waste of money building a mine of capacity 2 million TPA, then discovering another 10 million ounce resource 20 km away. Your 2 mil TPA is too small, in the wrong spot and probably has the wrong circuit for full recovery of gold. You have wasted all the capital on the 2MTPA mine and have to build a new one, raising more capital.

My money is on Gryphon continuing to work hard. Look at the current marketcap of Gryphon, compare it to PRU which will give you an idea of where Gryphon's M/C could be heading.

The team at Gryphon had to decide, raise money now, or try and raise funds later in a more difficult climate.

Did you buy any more shares under $1.30? With the overnight world sharemarket rally, the price could take off again.