NEWS from Gryphon Resources Inc.
Gryphon Resources Enters Negotiations for Property Purchase
IZMIR, TURKEY
– (PR NEWSWIRE) – May 7, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reported today its subsidiary APM Madencilik Ltd has entered negotiations with a chromium mining firm for the purchase of some or all of that company’s mineral property assets in Turkey. Gryphon is now carrying out due diligence and expects to provide further details on the negotiations shortly.
Gryphon Resources Announces Acquisition Program
IZMIR, TURKEY
– (PR NEWSWIRE) – May 1, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) announced today it has initiated a strategic program aimed at expanding its mineral property holdings.
Gryphon’s CEO Serdar Kirmizioglu reports: “We’ve identified there now appear to be good opportunities to purchase other mineral properties in Turkey. Based on our research, we’ve begun a program to identify other companies, or individual exploration or producing properties, and initate discussions to determine whether any of these could be acquired on favorable terms. We expect to report further information regarding this program within the next few weeks.”
Gryphon Resources Sees Benefit in New Tax Incentive Program Aimed at Mining Operations in Turkey
IZMIR, TURKEY
– (PR NEWSWIRE) – March 23, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports today its subsidiary APM Madencilik Ltd. (“APM”) expects to participate in a soon to be announced tax incentive program from the Government of Turkey.
Information to date indicates the incentive system will cover 11 major industrial sectors, including Mining Investments. The program is designed to increase investment in Turkey and offers a variety of incentives including: Value Added Tax and customs duty exemptions, land concessions, interest subsidies on loans used for investment purposes, and state payment of social security premiums and payroll taxes.
Gryphon’s CEO Serdar Kirmizioglu remarked: “Timing of this program couldn’t be better. We’re in the process of establishing infrastructure and staff needed to extract manganese at our H33D4 site and this should give us a helpful boost. We’re now working with the Turkish government to analyze ways to maximize our participation in the program”
Gryphon Resources Inc. Receives Regulatory Approval to Begin Manganese Mining Operations
IZMIR, TURKEY
– (PR NEWSWIRE) – March 6, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports its subsidiary APM Madencilik Ltd. (“APM”) has received regulatory permission from Turkey’s Forest General Directorate to begin manganese mining operations in Eastern Turkey.
The initial permission granted for APM’s H33D4 site includes visually exposed manganese which covers an area of 10,522.50 square meters and is valid until December 31, 2010. This license includes an eight year extension provision which takes effect once production has commenced. After drilling results are analyzed, APM expects to apply for additional production licenses according to its production schedule.
CEO Mr. Serdar Kirmizioglu comments: “Now that we’ve been granted regulatory approval to begin mining, our next step is to assemble the capital, infrastructure and labor resources necessary to bring the H33D4 manganese deposit into production. We’re developing a customer base for our product and it’s our objective to fill this demand in the near future.”
Gryphon Resources Inc. Secures Revenue Stream with First Manganese Sale
IZMIR, TURKEY
– (PR NEWSWIRE) – March 5, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports it has signed the first contract for sale of manganese from its H33D4 site in Turkey and is negotiating sales with four other buyers.
Under the initial contract, in May 2009 Gryphon’s Turkish subsidiary APM Madencilik Ltd. (“APM”) will begin delivering 1,000 tons of manganese per month to a trading company which supplies customers in China. Additionally, APM is negotiating contracts with four other buyers for sales totaling approximately 15,000 tons of manganese per month on similar terms to its first contract and expects to finalize these by the end of April 2009.
CEO Mr. Serdar Kirmizioglu comments: “We’re moving quickly to take advantage of our recent discovery of manganese in Turkey. If our grade and size estimates are correct, this means we’ll be obtaining the highest quality of manganese for about 80 years. With manganese at a somewhat discounted level of approximately US$225/ton, we see H33D4 as being a major part of our plans for some time to come.”
Gryphon Resources Inc. Announces Significant Manganese Discovery in Turkey
IZMIR, TURKEY
– (PR NEWSWIRE) – February 24, 2009 – Gryphon Resources Inc., (OTCBB: GRYO) reported today a significant discovery of manganese has been made at the H33D4 exploration site of its Turkish subsidiary APM Madencilik Ltd. (“APM”).
Gryphon’s CEO, Mr. Serdar Kirmizioglu, reports: “We’re very pleased with our recent finding of manganese deposits at the H33D4 site. Initial indications are the tenor ore of the deposits are in the range of 42-54% and are readily mineable. Gryphon’s main focus has been exploration for copper and the discovery of manganese is a welcome development. We’ll be able to fully estimate the size of the H33D4 deposit once we start drilling, but our visual inspection shows approximately 100,000 tons and we believe it may hold up to 10,000,000 tons. Depending on weather conditions, we expect to begin production of 1,000 tons of manganese per month at the latest by the end of spring 2009. Our production for the next phase will increase to 10,000 - 15,000 tons per month. Inspections show the manganese deposit is in surface levels and enrichment is not required, it’s ready to sell once mined. This provides us with solid momentum. Our team is well experienced and knows the geological and regulatory terrain in Turkey and we’re looking forward to using our base in Turkey to implement aggressive long term plans for Gryphon.”
During February APM submitted the mining authorization applications required by Turkey’s Mining Works General Management Office and inspection of the manganese deposit is scheduled to be finished by Mining Works staff by the end of February 2009. APM expects to be issued the necessary Production Permissions by early March 2009 and then begin production. Gryphon will now engage a qualified Independent geologist to perform geological analysis of H33D4 and issue an SEC Industry Guide 7 compliant report.
The H33D4 exploration site was acquired by APM in April 2008 and comprises a 1375 hectare exploration license. The site is located approximately 180 km due East of Ankara, the capital of Turkey. Infrastructure in the region is suitably developed and road, electricity and water resources can be supplied to the site with some minor preliminary work.
Gryphon Resources Enters Negotiations for Property Purchase
IZMIR, TURKEY
– (PR NEWSWIRE) – May 7, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reported today its subsidiary APM Madencilik Ltd has entered negotiations with a chromium mining firm for the purchase of some or all of that company’s mineral property assets in Turkey. Gryphon is now carrying out due diligence and expects to provide further details on the negotiations shortly.
Gryphon Resources Announces Acquisition Program
IZMIR, TURKEY
– (PR NEWSWIRE) – May 1, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) announced today it has initiated a strategic program aimed at expanding its mineral property holdings.
Gryphon’s CEO Serdar Kirmizioglu reports: “We’ve identified there now appear to be good opportunities to purchase other mineral properties in Turkey. Based on our research, we’ve begun a program to identify other companies, or individual exploration or producing properties, and initate discussions to determine whether any of these could be acquired on favorable terms. We expect to report further information regarding this program within the next few weeks.”
Gryphon Resources Sees Benefit in New Tax Incentive Program Aimed at Mining Operations in Turkey
IZMIR, TURKEY
– (PR NEWSWIRE) – March 23, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports today its subsidiary APM Madencilik Ltd. (“APM”) expects to participate in a soon to be announced tax incentive program from the Government of Turkey.
Information to date indicates the incentive system will cover 11 major industrial sectors, including Mining Investments. The program is designed to increase investment in Turkey and offers a variety of incentives including: Value Added Tax and customs duty exemptions, land concessions, interest subsidies on loans used for investment purposes, and state payment of social security premiums and payroll taxes.
Gryphon’s CEO Serdar Kirmizioglu remarked: “Timing of this program couldn’t be better. We’re in the process of establishing infrastructure and staff needed to extract manganese at our H33D4 site and this should give us a helpful boost. We’re now working with the Turkish government to analyze ways to maximize our participation in the program”
Gryphon Resources Inc. Receives Regulatory Approval to Begin Manganese Mining Operations
IZMIR, TURKEY
– (PR NEWSWIRE) – March 6, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports its subsidiary APM Madencilik Ltd. (“APM”) has received regulatory permission from Turkey’s Forest General Directorate to begin manganese mining operations in Eastern Turkey.
The initial permission granted for APM’s H33D4 site includes visually exposed manganese which covers an area of 10,522.50 square meters and is valid until December 31, 2010. This license includes an eight year extension provision which takes effect once production has commenced. After drilling results are analyzed, APM expects to apply for additional production licenses according to its production schedule.
CEO Mr. Serdar Kirmizioglu comments: “Now that we’ve been granted regulatory approval to begin mining, our next step is to assemble the capital, infrastructure and labor resources necessary to bring the H33D4 manganese deposit into production. We’re developing a customer base for our product and it’s our objective to fill this demand in the near future.”
Gryphon Resources Inc. Secures Revenue Stream with First Manganese Sale
IZMIR, TURKEY
– (PR NEWSWIRE) – March 5, 2009 – Gryphon Resources Inc. (OTCBB: GRYO) reports it has signed the first contract for sale of manganese from its H33D4 site in Turkey and is negotiating sales with four other buyers.
Under the initial contract, in May 2009 Gryphon’s Turkish subsidiary APM Madencilik Ltd. (“APM”) will begin delivering 1,000 tons of manganese per month to a trading company which supplies customers in China. Additionally, APM is negotiating contracts with four other buyers for sales totaling approximately 15,000 tons of manganese per month on similar terms to its first contract and expects to finalize these by the end of April 2009.
CEO Mr. Serdar Kirmizioglu comments: “We’re moving quickly to take advantage of our recent discovery of manganese in Turkey. If our grade and size estimates are correct, this means we’ll be obtaining the highest quality of manganese for about 80 years. With manganese at a somewhat discounted level of approximately US$225/ton, we see H33D4 as being a major part of our plans for some time to come.”
Gryphon Resources Inc. Announces Significant Manganese Discovery in Turkey
IZMIR, TURKEY
– (PR NEWSWIRE) – February 24, 2009 – Gryphon Resources Inc., (OTCBB: GRYO) reported today a significant discovery of manganese has been made at the H33D4 exploration site of its Turkish subsidiary APM Madencilik Ltd. (“APM”).
Gryphon’s CEO, Mr. Serdar Kirmizioglu, reports: “We’re very pleased with our recent finding of manganese deposits at the H33D4 site. Initial indications are the tenor ore of the deposits are in the range of 42-54% and are readily mineable. Gryphon’s main focus has been exploration for copper and the discovery of manganese is a welcome development. We’ll be able to fully estimate the size of the H33D4 deposit once we start drilling, but our visual inspection shows approximately 100,000 tons and we believe it may hold up to 10,000,000 tons. Depending on weather conditions, we expect to begin production of 1,000 tons of manganese per month at the latest by the end of spring 2009. Our production for the next phase will increase to 10,000 - 15,000 tons per month. Inspections show the manganese deposit is in surface levels and enrichment is not required, it’s ready to sell once mined. This provides us with solid momentum. Our team is well experienced and knows the geological and regulatory terrain in Turkey and we’re looking forward to using our base in Turkey to implement aggressive long term plans for Gryphon.”
During February APM submitted the mining authorization applications required by Turkey’s Mining Works General Management Office and inspection of the manganese deposit is scheduled to be finished by Mining Works staff by the end of February 2009. APM expects to be issued the necessary Production Permissions by early March 2009 and then begin production. Gryphon will now engage a qualified Independent geologist to perform geological analysis of H33D4 and issue an SEC Industry Guide 7 compliant report.
The H33D4 exploration site was acquired by APM in April 2008 and comprises a 1375 hectare exploration license. The site is located approximately 180 km due East of Ankara, the capital of Turkey. Infrastructure in the region is suitably developed and road, electricity and water resources can be supplied to the site with some minor preliminary work.