ASX Announcement
29th July 2013
Gryphon announces changes to the
Board & Senior Management &
further cost reduction measures
Corporate Directory
Non-Executive Chairman
Mel Ashton
Managing Director
Stephen Parsons
Non-Executive Directors
Didier Murcia
Company Secretary
Paul Hegarty
Cash A$52M
4.9Moz Banfora Gold Project
Burkina Faso, West Africa
EV/oz A$5
World-class exploration ground
Contact Details
Principal & Registered Office
Freemasons Hall
181 Roberts Road
SUBIACO WA 6008
T: +61 8 9287 4333
F: +61 8 9287 4334
E: admin@gryphonminerals.com.au
ASX CODE GRY
Investor Relations
MAGNUS Investor Relations
John Gardner
T: +61 413 355 997
www.gryphonminerals.com.au
Gryphon Minerals Limited (ASX:GRY) announces that Mr David Netherway, Ms Andrea Hall and Mr Michael O'Neill have agreed to resign as Directors of the Company, effective 31 July, as part of the Company's cost reduction program.
In addition, the Company also announces the agreed departure of Ms Beth Michetti as Chief Financial Officer, Mr Alex Eastwood as General Counsel and Mr Michael Fox, Chief Exploration Manager, effective 31 July.
Mr Mel Ashton, Non-Executive Chairman said "On behalf of the Company I would like to thank the departing members of the Board of Directors as well as the senior staff for their devoted efforts during their time at Gryphon which have made a valuable contribution in advancing the Banfora Gold Project towards development and I wish them all well in their future endeavours."
He added "Going forward Gryphon remains in a strong position, with cash of $52 million, a world-class resource base at the Banfora Gold Project and a restructured Board and Executive Management Team that has a broad set of skills and experience, including recent financings and building mines in West Africa."
Furthermore, the Company announces as number of major cost cutting initiatives have been implemented across the entire Company, including: