Report very long but illustrates the massive mine in the making. The ore is: 1)Shallow. This means simple large scale extraction via open cut. 2) Oxide. This is much easier/cheaper to process than sulphide. 3) Rich grade. Ensures high margin 4) They have plenty greenstone left to explore. Enormous potential. 5) In a country now favourable to mining investment. Less red tape and low 20% tax+3% royalty. 6) Water and power not far away. 7) As reserves are proved-up it increases likelyhood of becoming a TO target. This sought-after area is 'ripe for consolidation' with Newcrest and others on the ground. Famous 'Red-Back' mine not far away to one GRY project. Main deposit very similar/close to Randgold's Togan project. If Gryphon could become even half of RB it will still be enormous. IMO look for buying opportunities BEFORE resource update in early 2011. http://www.vision6.com.au/download/files/26088/1265889/Rodmans_The%20next%20Red%20Back_Sep10.pdf
GRY Price at posting:
$1.40 Sentiment: Buy Disclosure: Held
