International funds manager Mariner Financial Ltd has acquired 5.3 per cent of the issued capital of Perth-based mineral exploration company Gryphon Minerals Ltd.
Mariner head of natural resources Kelvin Russell said Gryphon was a quality junior resource company with highly prospective exploration assets and an exceptional management team.
Gryphon has a market capitalisation of approximately $60 million with exploration operations in Australia and Africa.
"Mariner is building an investment business in the natural resources sector which will focus on a range of commodities," said Mr Russell.
"This is a foundation investment for a new Strategic Gold Fund and underpins the establishment and development of our business model which will focus on principal investment, merchant banking, private equity and managed funds."
Gryphon was established with the express purpose of exploring for and developing gold and base metals deposits.
The company has been active in exploring its flagship project, the Banfora Gold Project in Burkina Faso, an under-explored and highly prospective region of West Africa. Gryphon recently announced a maiden resource of 6.1Mt @ 2.1g/t for 410,000oz gold (less than 100 meters depth) which it views as an interim estimation with significant potential to define further shallow ounces from on-going drilling programmes at the project.
Gryphon also has prospective Australian gold, nickel, uranium and diamond projects and has also been successful in securing a significant Joint Venture with major nickel producer Minara Resources to explore for nickel sulphides at the Company's Collurabbie and Mount Rankin Projects.