Today before the opening bell, Gryphon Resources Inc. reviewed highlights from its Annual 10K Report for the year ended September 30, 2010, filed with the Securities and Exchange Commission (SEC).
“Fiscal 2010 was a very positive year for Gryphon,” commented President and CEO Alan Muller. “We developed a strong new management team, acquired promising lithium exploration rights in Arizona and sold our unprofitable subsidiary in Turkey. Additionally, since year end we’ve completed two successful private placements totaling $470,000, which raised cash and cleared all debt from our balance sheet, and have entered a letter of intent to acquire another attractive property in Arizona with gold and copper-porphyry potential.”
Muller concluded, “In combination with these successes, we’ve also engaged an experienced geological project manager in Arizona and have now begun exploration on our lithium properties. Our plans are moving forward quickly and are on schedule. Overall, we’re cautiously optimistic fiscal 2011 will continue to hold goods things for the Company.”