This is excellent news for the company - striking while the iron...

This is excellent news for the company - striking while the iron is hot, so to speak and primed to ride the coattails of golds robust price movement.

7m+ cash in the kitty to hit Pinjin hard over the next 3-6 months with the drill bit. The projects, acquired from Newmont, are surrounded by monster deposits and according to the company have the same structural and geological setting as Sunrise which is over 10m ounces just 100km to the north.

Gryphon has supported the placement by maintaining their existing % shareholding - this is significant and may well underpin short to medium term price appreciation.

What I like about the prospectiveness of Pinjin is that we have 80-90m of transported cover with the gold situated directly beneath in the bedrock - look at the intersection by Newmont - more hits of 5.9m @ 7.2g/t from 89m and it's game on.

Early days, but an excellent entry point to a company that is cashed up, very little tradeable stock, excellent corporate support and ground that would make most other gold juniors salivate.

Marchello