GRY gryphon minerals limited
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  1. FNN News
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    12/05/11
    10:22
    Post #: 8389275
    .

    Gryphon Minerals Limited (ASX:GRY) will spend $20 million more than expected to develop its Banfora Gold Project in West Africa.



    The company’s managing director, Steve Parsons, told the Australian Financial Review that the company will spend between $160 and$200 million on the gold project development in Burkina Faso.



    Its Banfora project, is expected to define further resources at depth and boasts an inferred gold resource of 2 million ounces.



    Gryphon reported a loss of $11.2 million for the second quarter ending March 31, 2011.
    GRY Price at posting: $1.60 Sentiment: None Disclosure: Held
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