Steve Parsons described 2013 as a "disaster" for his Gryphon Minerals Ltd, as this was the year the market fell out of love with the gold price. Burkina Faso-focused Gryphon had what managing director Parsons said was "a great bankable feasibility study" only to find it could not gain traction in such a depressed environment. "So we took the original BFS and thought about how we could cut back the costs on it. We have now managed to do that and our new option comes in at $79 million, which will make the project [at Banfora] really cheap to build and payback will be in three years.
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