Gryphon Gold Corporation Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2012; Reports Write Down of Mining Property
For the six months, the company reported loss from operations of $892,040, net loss of $1,443,727 or $0.01 loss per share on net sales of $9,393,656 against loss from operations of $1,210,751, net loss of $1,387,922 or $0.01 loss per share for the same period a year ago. Net cash used in operating activities was $2,504,057, purchase of property, plant and equipment was $1,551,491 against net cash used in operating activities was $1,654,472, purchase of property, plant and equipment was $6,783,785 for the same period a year ago.
The company reported write down of mining property of $11,003.