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Additional information
Additional Information
Market: ASX
Sector: General Mining
Epic: ASX:GRY
News: Latest news
Web Site: Gryphon Minerals
Other Articles: 26-11-200921-09-200921-08-2009

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Tuesday March 16, 11:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Gryphon Minerals

Gryphon Minerals

Gryphon Minerals (ASX: GRY) is a Perth-based mineral exploration company established with the express purpose of exploring and developing gold deposits in West Africa.  At the company's flagship Banfora Gold Project an aggressive drilling and regional exploration programme is being carried out to assist in unlocking the full potential of the project. Gryphon considers the results to date to be extremely significant, reinforcing the potential for the Banfora Gold Project to host large scale gold mineralisation.
 

Thursday, November 26, 2009

Gryphon Minerals raises $20 million to advance exploration at Banfora Gold Project

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Perth-based mineral exploration company Gryphon Minerals (ASX code: GRY) has raised $20 million as part of a strategy to grow its flagship Banfora Gold Project in Burkina Faso in West Africa.

The company received firm commitments for 40.0 million shares at $0.50 per share to raise the funds.

The Placement was strongly supported by new and existing institutional investors, including a number of UK and North American based international resource funds.

Gryphon announced an upgraded inferred resource of 1,100,000 ounces of gold at 2.4 grams per tonne in September this year.

Proceeds from the Placement will be applied to undertake further work targeting additional increases in resources at the highly prospective Banfora Gold Project. This includes funding further in‐fill drilling within the existing defined resource zone, continuation of the drilling program, the capability to assess ongoing additional prospective land acquisition opportunities within West Africa as they arise and general ongoing working capital requirements.

The Placement to institutional and sophisticated investors will be made in two tranches. Tranche 1 will comprise 24.8 million shares at 50 cents to raise $12.4 million will be issued immediately under the Company’s 15% capacity.

The second tranche will comprise of 15.2 million shares at 50 cents to raise a further $7.6 million, subject to shareholder approval at a meeting of members to be held within the next seven weeks.

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