GRYPHON GOLD CORP GGN Cash Flow

Mar'12	Mar'11
Net cash used by operating activities
-5,441	-3,421
Reclamation bonds purchased
2,613	65
Option payment received
0	100
Purchase of property, plant and equipment
9,618	59
Cash received from sale of discontinued operations
0	2,250
Option payment to amend and reduce royalty
-150	-200
Proceeds from sales of held for trading securities
0	116
Proceeds from note receivable
2	10
Proceeds from insurance claim on equipment
31	0
Net cash used in investing activities
-12,348	2,152
Repayment of borrowings
223	0
Proceeds from borrowings, net
8,533	0
Shares and warrants issued for cash
11,134	1,555
Debt and share issue costs
1,880	386
Net cash provided in financing activities
17,564	1,169
Effect of foreign exchange on cash
-9	0
Net increase (decrease) in cash
-235	-99
Net loss
-5,121	-2,747
Depreciation
178	51
Asset retirement obligation accretion
139	3
Loss on disposal of equipment:
0	-0
Write down of accrued liability:
0	124
Stock compensation expense, net of tax
277	184
Amortization of debt offering costs
385	0
Amortization of notes payable discount
372	0
Unrealized gain (loss) on foreign exchange
-9	0
Non-cash interest expense
0	10
Realized loss on securities
0	-75
Loss on modification of debt
-1,590	0
Gain on sale of discontinued operations
0	664
Accounts receivable
328	-6
Accounts payable and accrued liabilities
2,991	-251
Inventories
5,886	0
Prepaid expenses
48	-34
Net cash used by operating activities
-5,441	-3,421