16 April 2012
Gryphon Minerals Ltd (GRY) - Price Target: $2.22
We anticipate resource upgrades for GRY's Banfora project are imminent as well as further updates on the Detailed Feasibility Study due later this quarter. We take the view that there’s still around 2Moz of upside in the regional projects based on the number of early stage successes at Samavogo, Ouahiri and Stinger which are likely to convert into cheap oxide ounces in the upcoming resource update, not to mention the potential for further success at GRY's 20 regional targets which remain untested.
GRY Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
