Nice SP action today. Looks like the slow grind downwards of the...

Nice SP action today. Looks like the slow grind downwards of the SP over the last few months my have been a lot to do with pre - ASX200 withdrawal positioning. Now the shackles may be off and looking for a rising trend hopefully. Very good volume today again.
May get a change of substantial shareholding notice in the next few days after 20 odd million shares exchanged hands on Friday (index change date).
GRY presenting at Mines and Money Hong Kong on Thursday.

GRY Market Cap approx $140m
Cash and investments approx $70
EV $70m

4.9m oz gold resource- tick
Maiden reserve - tick
BFS completed - tick
Mining friendly jurisdiction - tick
Ongoing drilling/exploration -tick
Significant resource upgrade potential- tick
Numerous new discovery potential- tick

We still have a few significant milestones to achieve such as funding and permitting but jeez the Banfora Project looks solid and promising. Gryphon is looking cheap on fundamentals even in this temporary negative gold sentiment environment. And if sentiment generally and the gold price specifically recovers even modestly, then I would expect GRY to be back up to the not so dizzying heights of ~60cents rather quickly.

And why may the gold price resume its upward trend again shortly?
Well despite sanguine equity markets pretending otherwise, the intractable economic problems of Europe, Britain and the US are NOT fixed by a long shot. The jury is still out on the China miracle and most realistic economists do not believe Chinas official trade and economic figures. Japan ratcheting up an unprecedented and experimental QE process just to hang on to Zombie status. India's prediction as the next super economy a cruel joke. Iran and Israel sharpening their poke sticks over Irans nuke development. Crazy Kym still waving and grandstanding in North Korea and tearing up the decades old Korean Peace Accord. Taiwan and China squaring off in the South China Sea. Syria now firing rockets at Lebanon. The Middle East peace process dead and buried.
Yep I am pretty sure that everything is not grand in Magic Fairyland. I for one do not believe that the gold story as a form of currency and store of value in uncertain times is over yet.

Oh and before I forget.
Mauritania results.......tick tock tick tock....crickets chirping......
At least the GRY SP ascribes no value to the once great white hope of Tijirit in Mauritania. You remember, .... the gold target only 10 Kms away from the 20m oz Tasiast gold mine. Tenements only separated by a sand dune....blah blah. Any single ounce of good news from Tijirit will be an unexpected and pleasant bonus IMO.
Despite Mauritania,I reckon things are shaping up really well for GRY in Banfora.

Cheers
Sarge