- A Veteran Industry Professional With Proven Gold and Moly Experience -
SPARKS, Nev., Aug. 16 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce the appointment of Donald R. Prahl as Vice President Operations. Mr. Prahl takes charge of all mine development beginning with the near-term start of production at the Ashdown molybdenum-and-gold joint venture in Humboldt County, Nevada. Earl Harrison, Mine Manager, will report to Mr. Prahl and continue to direct the Ashdown project on a day-to-day basis.
Don Prahl brings to Golden Phoenix a distinguished career running major mining operations throughout the country. Notable are Mr. Prahl's achievements as Vice President and General Manager of the Barrick Goldstrike Mine in Elko, Nevada, where he managed 1600 employees and a $350 million budget. During his tenure, the Goldstrike mine established a record for single-year output of 2.4 million ounces of gold while generating profits of $315 million.
Prior to that, Mr. Prahl was Vice President and General Manager for the Cyprus-Amax Sierrita mine in Arizona, overseeing copper and molybdenum mining, flotation, roasting and packaging. Mr. Prahl initiated a top-to-bottom turn-around at Sierrita, which was subsequently named the safest surface mine in America by the Mine Safety and Health Administration (MSHA) and rated the world's most productive surface mine by CRU International.
.....
Cyprus-Amax Sierrita mine Acquired By Phelps Dodge in 1999
Don Prahl commented on his appointment, saying, "I am grateful for the opportunity to help bring this remarkable moly mine to market. I am impressed with the quality and tenacity of the Golden Phoenix team, from its executive leadership to its expert field managers and miners. Initially, I plan to set up residence near the Ashdown mine in order to be close to the action. My wife, Diana, and I are delighted to return to our roots in Nevada, and look forward to playing a part in this rapidly evolving success story."
Posted by NaturalResources on :
Most recently, Mr. Prahl was Vice President and General Manager for the Cleveland Cliffs iron mine in Minnesota, in charge of 500 employees and a $185 million budget. Through Mr. Prahl's leadership, the mine increased tonnage and reduced costs, achieved ISO-14001 compliance and delivered rising profits, while being awarded for the lowest MSHA reportable injury rate in the company's history.
.....
Cleveland-Cliffs Inc NYSE:CLF Price USD$36.10 Market Cap (intraday): 1.50B
Donald Prahl, Golden Phoenix's Vice President Operations, seen here at headquarters studying Ashdown maps. Don has relocated from Minnesota to Denio, Nevada to support Mine Manager Earl Harrison in bringing the mine to full production. Earl will continue to lead the operations of the mine and mill, and report to Don.
The Humboldt County Building Department has granted provisional authority for the Ashdown Mill to begin operations in advance of administrative processing and issuance of the Occupancy Permit. The permit is expected within the next few weeks. The provisional authority granted allows the mill staff, under the direction of Earl Harrison, to ramp up to full-scale testing and trials of the crushing, grinding, and flotation circuits using run-of-mine material. While every component of the mill has previously been run and tested separately, the focus now shifts to the integration of all systems, and the fine-tuning of the equipment. Concentrates will be generated as a product of these trials, which will provide the baseline information necessary to dial-in the chemistry and metallurgy necessary to produce a final product that meets commercial specifications. The final product will be 50% Mo or higher, and individual metal “contaminants” such as copper, lead, and zinc will be suppressed to specified levels.
[ August 17, 2006, 23:19: Message edited by: NaturalResources ]
Posted by Purl Gurl on :
This company appears to have some potential and is worth looking over.
Most recent news of beginning operations does not mention operations are limited until select environmental permits are approved. Current processing equipment is small scale and is not designed to produce revenue.
Charts indicate this stock is in the middle of a concerted pump effort. Chances are very high share prices will fall fairly soon.
Readers are urged to read _very carefully_ with giving extra attention to discussion of the Mineral Ridge claim and the Ashdown claim.
During your reading, should you not come across this statement below, you are not reading carefully.
"We anticipate covering our working capital needs through funding received from loans and any future revenue we may generate, as well as other sales of our common stock. In the event we fund our working capital needs through the issuance of equity, our existing and future shareholders will be diluted and any net income per share would be lower in future periods."
What else do you find related to that statement?
Do you think "right now" is the best time to buy?
Purl Gurl
Posted by glassman on :
"We anticipate covering our working capital needs through funding received from loans and any future revenue we may generate, as well as other sales of our common stock. In the event we fund our working capital needs through the issuance of equity, our existing and future shareholders will be diluted and any net income per share would be lower in future periods."
sheesh purl i see that in almost every HONEST one i read, aren't we allowed to have any fun? Posted by Purl Gurl on :
Four minutes. Not enough time has elapsed for you to have read that filing carefully. You are not qualified to comment with authority.
That company statement is directly linked to a lot of other information of concern.
Your comment misleads readers which is not appropriate behavior.
but i don't post picks anymore... Fusion in the 424 was my concern
Posted by glassman on :
i've never seen a clause like this in a 424... No Short-Selling or Hedging by Fusion Capital
Fusion Capital has agreed that neither it nor any of its affiliates shall engage in any direct or indirect short-selling or hedging of our common stock during any time prior to the termination of the Purchase Agreement.
have you?
not qualified? sheeesh...
Posted by T e x on :
quote:Originally posted by glassman: i've never seen a clause like this in a 424... No Short-Selling or Hedging by Fusion Capital
Fusion Capital has agreed that neither it nor any of its affiliates shall engage in any direct or indirect short-selling or hedging of our common stock during any time prior to the termination of the Purchase Agreement.
have you?
not qualified? sheeesh...
Have *not* read the filing...
but, if this is in there? strange, for sure...in my experience.
& I *mean* very strange...
for one? I can't remember a penny even *mentioning* hedgies...
my, o my--the soup thickens...
Posted by T e x on :
quote:Originally posted by stockdealer: listen I have a question if someone can answer me. There is a stock it's ECC Capital Corporation and it's ticker sybol is ECR. Now the stock is only 1.06, but it says it has a dividend of .72 cents 66% is that possible? Can someone explain what is going on over their with that I would appreciate it.
suggest you repost, either on newbie forum, or on appropriate price-forum. Because it's three letters, I assume it is AMEX...try NASDAQ (etc) forum...or, as mentioned, the Newbie forum.
Posted by stockdealer on :
ok thank u have a good one
Posted by Purl Gurl on :
"my, o my--the soup thickens."
You only need to stir the pot to thicken the soup, maybe add a teaspoon of flour.
However, do not expect me to spoon feed.
;)
Purl Gurl
Posted by Purl Gurl on :
You might find these series of articles of mine to be of interest, dating back more than a year.
quote: No Short-Selling or Hedging by Fusion Capital
Fusion Capital has agreed that neither it nor any of its affiliates shall engage in any direct or indirect short-selling or hedging of our common stock during any time prior to the termination of the Purchase Agreement.
Posted by Purl Gurl on :
"so you've seen this language before?"
Did you know there are some SEC filings which actually contain cuss words? Not joking, real cuss words! Others contain pure comedy.
What I am trying to accomplish is to prompt readers into noticing what has happened as a side effect of placing the Mineral Ridge operations on standby status. This decision creates effects which ripple through the financial status of this company.
I have elected to not spoon feed readers on this one. Careful reading of SEC filings, specifically the most recent 10Q filing, will prove to be a good learning experience for all readers regardless of skill level.
This filing is a perfect example of why good reading skills and good associative thinking play such an important role in decision making.
Clearly, I have been tracking this stock for well over a year now evidenced by my articles back in May of 2005 year. I know this company inside and out. There is potential for profit by traders. However, my expectation is readers will discover this potential through effort, rather than being spoon fed.
Purl Gurl
Posted by NaturalResources on :
quote:Originally posted by Purl Gurl: .....Charts indicate this stock is in the middle of a concerted pump effort. Chances are very high share prices will fall fairly soon. .....
Purl Gurl
Just curious Purl, but what about the charts indicates this stock is in the middle of a concerted pump effort? I'm always interested in learning TA.
Posted by glassman on :
let's try to get a legal defintion of pump and dump first NR...
i have been seeing a lot of people miscommunicating lately...
much more than we normally see:
A second form of Internet fraud comprises the category of "pump and dump" schemes. While the outcome of "pump and dump" schemes is identical to imposter schemes, namely the enrichment of the perpetrator at the expense of the majority of shareholders, the means employed to effectuate that result differ. Typically, the individual gives trading advice and tips to investors on the Internet, talking up stock that the individual already owns and then selling when the demand occasioned by the advice reaches a given level. A recent representative "pump and dump" case involved the website of Yun Soo Oh Park, who billed himself out as "Tokyo Joe" and specialized in stock tips and trading advice. On January 5, 2000, the Securities and Exchange Commission (SEC) filed fraud charges against Park, alleging that he used his website to maintain an ongoing "pump and dump" scam, talking up stocks he already owned to subscribers of his tips service and then surreptitiously selling them when demand increased. Between selling stocks he recommended and charging fees for subscription to his service, Park made over $ 1.1 million in a twelve-month period ending in June 1999. As a result of this activity, the SEC filed four counts against Park, the most relevant count being violations of the Investment Advisers Act of 1940, specifically 15 U.S.C. §88b-6(1) and 15 U.S.C. §80b-6(2).3
this site provides much information on internet issues... Congress' desire to offer such immunity comports with its goal of maintaining and ensuring an unfettered atmosphere of speech and communication throughout the Internet. A high value is placed on freedom of speech on the Internet, and accordingly Congress has noted the importance of restraining government regulation in the medium. Tort liability imposed on service providers for the communications of third parties would prove to be an undue government regulation and ultimately would result in an unwelcome silence within a forum that service as a stage for a substantial amount of prolific speech. The Court recognized Congress' desire to encourage service providers to actively play a role in the regulation of obscene, fraudulent, and defamatory statements on their sites, when it declined to recognize such self-regulation as the creation of information which would exposes them to liability. The sheer amount of information posted on the Internet hampers government's ability to regulate all postings themselves, accordingly government must encourage self-regulation and thus strongly oppose any attempt to create liability on such regulation. In order to avoid being the subject of a lawsuit, service providers (including Internet news websites) would more than likely shun any attempts at self-regulation and allow fraudulent information to flourish throughout their websites.
the problem arises in that a moderator cannot be reasonably expected to DD out every stock mentioned by somebody... it's not possible...
there is more too..
much more look here: This being said, however, it is important to note that while computer services find themselves protected by immunity, the original culpable party who posts defamatory and fraudulent messages will not be protected by such measures. These individuals will find themselves subject to liability for such statements. Posted by NaturalResources on :
Glass, I wasn't trying to call GPXM a P&D nor was I trying to suggest PurlGurl is. I just am curious as to what T/A you can use to identify a stock that is in the middle of a "concerted pump effort".
PurlGurl stated that ... "Chances are very high share prices will fall fairly soon."
While I am riding on free shares, (bought at *~0.22 last year, sold this year *~0.48), I was considering buying a bit more but based on PG's comments I might hold off.
Posted by glassman on :
just trying to help everybody get on the same page here NR...
like i said? there has been a lotof mis-communication... you'll note that the page i pulled has Duke in the url, it's not some arm-chair speculation page... and i am qualified to cut-n-paste...
my hope is that it will help everybody understand each other better....
Posted by Purl Gurl on :
Natural Resources, you will note I did not write this is a pump and dump stock. Glassman, as is his persistent habit, is twisting my words into something I did not write. Pointless for me to object to his historical activity.
In my chart you notice an informal black line arrow displaying long term trend; downward.
My red arrows point to events which cannot be explained. During this time period there are no company events which warrant such a steep, sudden climb in share price.
You will note, last Friday, share prices are beginning to fall, quite dramatically.
This unusual activity displayed is very typical and quite predictable for subsequent behavior.
Have a look at my charts in the ICTN thread for reference.
There is no evidence this is a pump and dump but there is evidence this one is being pumped. There is a very distinct difference between the two which is lost upon those not well learned in stock trading.
I like this company. My opinion is this is not the best time to buy shares. I would wait for this fall to bottom out, then have a look at buying.
Purl Gurl
Posted by glassman on :
Glassman, as is his persistent habit, is twisting my words into something I did not write. Pointless for me to object to his historical activity.
pointless to even mention it since i didn't mention any names, i am simply trying to define terms here...
helping everyone...
Posted by NaturalResources on :
quote:Originally posted by glassman: just trying to help everybody get on the same page here NR...
like i said? there has been a lotof mis-communication... you'll note that the page i pulled has Duke in the url, it's not some arm-chair speculation page... and i am qualified to cut-n-paste...
my hope is that it will help everybody understand each other better....
Glass, thanks for trying to keep things clear. You and Purl both make a good point about makeing a distinction between a stock being "pumped" and a "P&D" scam.
As Purl stated in a previous thread:
"This stock is found on all major boards and it is being pumped, but not as a "pump & dump" scam. Participant sentiment does seem genuine and concensus is this company will exhibit share price increases in the near term."
Posted by NaturalResources on :
quote:Originally posted by gagged_n_burried: NR.. P&D does have a very typical pattern.. and can almost easily manifest while observing trade pattern on charts.. buying/selling volume.. direction of trades.. and lot of other factors effecting it. heres a classic example for learning P&D pattern, identify them, and how to play them if you want to. Guapo from HSM has posted a classic example some months back. I shall try and post the link.
http://www. hot stock market . com/forums/showthread.php?t=36435&page=5
remove spaces and try to see if you can reach the page. he explains very clearly with example of the pattern ..
gagged_n_burried, thanks for the info, I'll add it to my stock DD folder, should come in handy.
Posted by Purl Gurl on :
I write,
"During this time period there are no company events which warrant such a steep, sudden climb in share price."
Before my words can be twisted, there are company events during the third week of August, but these events are not of the type which would cause this much of a rise.
The news during that time period, might cause a nickel a share rise caused by naive traders, but not a full ten cents a share rise, which is piggy-backed on the first initial rise.
I could propose a possible explanation but evidence is not available nor all that well supported.
A possible but more of a guess,
Naive traders like the news of August third week, creating a bit of an upward run. This is ok, this news is positive. Some traders see this then jump in at boards, pump, causing a bit more excitement amongst the naive. This leads to the secondary upward run shown in my chart.
A profit taking fall is very clear in my chart. This would be the pumpers jumping out for profit.
This ten cent rise in prices, in two stages, does not fit the pattern of a pump and dump. Adding to this, a pump and dump will display a gradual climb in prices, not a very steep radical jump. A true pump and dump takes time.
A pump can happen in one or two days, which is what we see in charts. This is actually fairly much typical behavior, not all that negative.
Prices "should" fall tomorrow and on into the week. Of course, this is not written in stone. End result might be a little bit higher bottom support.
However, momentum behind a fall like this "should" drop prices below bottom support, a buy chance, followed by prices moving up very slightly, then become level for a time.
Buying just below bottom support affords you a better chance of not losing money, but is not a guarantee of making profits. This is simply a bit better of a buy position.
For a upward trend to develop, this company must provide news of moving into full scale operations which suggests future revenues.
Again, I like this company but GPXM is in the middle of a transition period from the Mineral Ridge operation to the Ashdown moly operations. No doubt, there is a reason for this switch, most likely a good business decision.
This switch appears to be presenting some good buy prices for the long term. I truly think this company will do well in the future.
Purl Gurl
Posted by glassman on :
Participant sentiment does seem genuine and concensus is this company will exhibit share price increases in the near term."
i am also impressed with the honesty, and foresight of the company in their filings... addressing the issue of "toxic financing" is very good IMO...
Posted by IMAKEMONEY on :
That trend sure is down,IMO, got to look at a better chart.
Posted by Purl Gurl on :
Overall performance is not bad. I missed my 0.70 per share estimate made in May of 2005 but came relatively close, for a one year projection.
The idling of Mineral Ridge is not something any could see coming.
I think I am the only person who bought back when I profiled this stock in May, 2005, for Allstocks readers.
They also missed out on my uranium plays last year.
Research is very important for sector plays. When readers do not perform good research, when readers do not keep up with international and national news, readers miss out on hundreds of chances to make good profits.
This is a price you pay when you expect to be spoon fed by others. Stock trading is either a full time job or not a job at all. You cannot play in the markets and be successful. You must work a full time job in the markets to succeed.
I soundly reject this excuse of, "I do not have time for research." I also reject these childish complaints of my being too tough. Annoys me to watch my hard work for others simply be ignored. However, a price is paid; you miss out on profits.
However, readers do enjoy cry babying about how mean I am, although they do not enjoy good profits.
This one, I "might" buy back in should prices move down to 0.30 to 0.34 per range.
Purl Gurl
Posted by IMAKEMONEY on :
Damn Purl, Great research and find. Could you hit me on the head next time.lol
Posted by Purl Gurl on :
"Could you hit me on the head next time."
Wish I could! :)
Darn hard to get people to pay attention! There are some people, though, I would like to smash their keyboards with my claw hammer.
Important for you to know, IMAKEMONEY, I am not always right, almost like everyone else. Usually when I make a bad pick, this pick is a really bad major loser! Big losses, right fast!
Always remember, none of us are always right.
However, there are those of us for whom stock trading is a full time job, and there are those of us who have being playing this game for decades.
Over the years, I have made a lot of mistakes and have learned more than I can remember. My success rate is eighty to eighty-five percent for profitable picks. Five to ten percent will be "no count" picks, this is, stocks which never change at all, up or down. Five to ten percent will be dire losers, most often scams which fool everyone, self included.
My success is due to one reason only, I work hard at this. Mine is more than a full time job in the markets. I can do this, others can do this as well. There is no special talent, no crystal ball, no gifted thinking, none of that on my part. I simply work hard at this which requires no talent, just hard work.
I can do this, others can do this.
I soundly reject all excuse making.
I can do this, others can do this.
Purl Gurl
Posted by IMAKEMONEY on :
Agreed Purl, That seems to work for most things in life.
Posted by Honky Tonk Girl on :
Here wqe go.... expect a lot more soon....
Good Luck, Honky Tonk Girl
Golden Phoenix Initiates Formation of Operating Company With Win-Eldrich to Launch Moly Production
SPARKS, Nev., Aug. 30 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce that it has initiated a plan with joint venture partner, Win-Eldrich Mines, Ltd., (TSXV: WEX), Toronto, Canada, to create a limited liability company (LLC) that will manage and operate the Nevada-based Ashdown molybdenum mining project on behalf of the partners.
The plan was formalized in a Letter Agreement dated August 29, 2006, stipulating the creation of an LLC in which Golden Phoenix will hold a 60% interest and Win-Eldrich will hold a 40% interest. The Letter Agreement defines the steps to be taken over the next five weeks to reconcile the Golden Phoenix earn-in expenditures and to complete transfer to the LLC of each partner's project assets, including the underlying mineral rights, the fully-operative mill facility and preexisting contracts.
In the interim, Win-Eldrich will transfer $550,000 to Golden Phoenix by August 31, 2006 as estimated payment of Win-Eldrich's contribution for the current quarter. Following formation of the LLC, Win-Eldrich will also release to Golden Phoenix 60% of the net proceeds derived from the processing and sale of stockpiled molybdenite ore, which was accomplished under Win-Eldrich's direction in 2005. Upon the completion of financial reviews by each partner final adjustments to both payments are to be made by September 30, 2006.
The LLC will be a Nevada-based company governed by a five-person board selected in proportion to the 60/40 ownership interests. One of the members will be an independent industry professional to be appointed by Golden Phoenix. Continuity of management will be maintained during the interim period by Golden Phoenix under contract to the LLC. VP Operations Don Prahl and Mine Manager Earl Harrison will continue to lead the on-site effort.
David A. Caldwell, President of Golden Phoenix, commented, "This LLC structure will promote tightened communication, faster response times, and an efficient partnership forum by which to guide the growth and direction of the Ashdown mine.
As the market price for moly oxide strengthens, the LLC will expedite the start of concentrate production, complete access to the bonanza grades in the South Zone, and aggressively pursue expansion of the overall resource."
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
Posted by Honky Tonk Girl on :
Golden Phoenix Initiates Formation of Operating Company With Win-Eldrich to Launch Moly Production
SPARKS, Nev., Aug. 30 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce that it has initiated a plan with joint venture partner, Win-Eldrich Mines, Ltd., (TSXV: WEX), Toronto, Canada, to create a limited liability company (LLC) that will manage and operate the Nevada-based Ashdown molybdenum mining project on behalf of the partners.
The plan was formalized in a Letter Agreement dated August 29, 2006, stipulating the creation of an LLC in which Golden Phoenix will hold a 60% interest and Win-Eldrich will hold a 40% interest. The Letter Agreement defines the steps to be taken over the next five weeks to reconcile the Golden Phoenix earn-in expenditures and to complete transfer to the LLC of each partner's project assets, including the underlying mineral rights, the fully-operative mill facility and preexisting contracts.
In the interim, Win-Eldrich will transfer $550,000 to Golden Phoenix by August 31, 2006 as estimated payment of Win-Eldrich's contribution for the current quarter. Following formation of the LLC, Win-Eldrich will also release to Golden Phoenix 60% of the net proceeds derived from the processing and sale of stockpiled molybdenite ore, which was accomplished under Win-Eldrich's direction in 2005. Upon the completion of financial reviews by each partner final adjustments to both payments are to be made by September 30, 2006.
The LLC will be a Nevada-based company governed by a five-person board selected in proportion to the 60/40 ownership interests. One of the members will be an independent industry professional to be appointed by Golden Phoenix. Continuity of management will be maintained during the interim period by Golden Phoenix under contract to the LLC. VP Operations Don Prahl and Mine Manager Earl Harrison will continue to lead the on-site effort.
David A. Caldwell, President of Golden Phoenix, commented, "This LLC structure will promote tightened communication, faster response times, and an efficient partnership forum by which to guide the growth and direction of the Ashdown mine.
As the market price for moly oxide strengthens, the LLC will expedite the start of concentrate production, complete access to the bonanza grades in the South Zone, and aggressively pursue expansion of the overall resource."
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
Posted by Honky Tonk Girl on :
Golden Phoenix: plus euro 0,04 +10% !!!
Posted by Honky Tonk Girl on :
20.00 hrs (in Holland) G.P. plus 15% ($0,46)
and there is still a lot more to look forward to.....
Good Luck,
Honky Tonk Girl
Posted by Honky Tonk Girl on :
20.30 hrs. G.P. plus 17.5% ($0,47)
Posted by NaturalResources on :
Entry into a Material Definitive Agreement, Other Events, Financ
Item 1.01 Entry into a Material Definitive Agreement. On August 29, 2006, Golden Phoenix Minerals, Inc. (the "Company") entered into a Letter Agreement with Win-Eldrich Gold, Inc. ("Win-Eldrich"), which defines the steps to be taken over the next five weeks in order to complete the transfer project assets to a limited liability company (the "LLC") to be formed by the Company and Win-Eldrich, including, but not limited to, the underlying mineral rights, the fully-operative mill facility and preexisting contracts. The LLC will manage and operate the mine and mill on behalf of the members.
Pursuant to the terms of the Letter Agreement, Win-Eldrich and the Company agreed that Win-Eldrich will pay to the Company, on or before August 31, 2006 the amount of $550,000, which approximates Win-Eldrich's forty percent (40%) share of expenditures for the Ashdown Project (both incurred and anticipated) from July 1, 2006 through September 30, 2006.
The parties have further agreed to use their best efforts to resolve any issues as to the amount of expenditures incurred by the Company not later than September 30, 2006. If as a result of such review it is determined that forty percent (40%) of the actual expenditures incurred by the Company in excess of $5,000,000 is greater or less than $550,000 (the "Win-Eldrich Share"), then (i) the Company will promptly reimburse Win-Eldrich for an amount equal to the difference between $550,000 and the Win-Eldrich Share, if the Win-Eldrich Share is less than $550,000, or (ii) Win-Eldrich will promptly pay to the Company an amount equal to the difference between $550,000 and the Win-Eldrich Share, if the Win-Eldrich Share is greater than $550,000.
The parties have also agreed to use their best efforts to agree upon the amount of net revenues received by Win-Eldrich from the processing of stockpiled ore transferred from the Ashdown Mine to Phillipsburg, Montana, not later than September 30, 2006. Win-Eldrich has agreed to pay the Company an amount equal to sixty percent (60%) of those net revenues at the same time as the payment is made relating to the Win-Eldrich Share, as set forth above.
The Company and Win-Eldrich have further agreed that a five percent (5%) management or overhead fee is appropriate for use in accounting for expenditures related to the calculation of the Win-Eldridge Share and the net revenues associated with the processing of ore from stockpiles transferred from the Ashdown Mine to Phillipsburg, Montana.
Finally, the parties have agreed to use good faith efforts to have the Contribution Agreements and the Operating Agreement related to the LLC fully-negotiated, executed and delivered and the LLC organized as soon as is reasonably practicable, but not later than September 30, 2006.
Posted by NaturalResources on :
quote:Originally posted by Purl Gurl: I write,
"During this time period there are no company events which warrant such a steep, sudden climb in share price."
Before my words can be twisted, there are company events during the third week of August, but these events are not of the type which would cause this much of a rise.
The news during that time period, might cause a nickel a share rise caused by naive traders, but not a full ten cents a share rise, which is piggy-backed on the first initial rise.
I could propose a possible explanation but evidence is not available nor all that well supported.
A possible but more of a guess,
Naive traders like the news of August third week, creating a bit of an upward run. This is ok, this news is positive. Some traders see this then jump in at boards, pump, causing a bit more excitement amongst the naive. This leads to the secondary upward run shown in my chart.
A profit taking fall is very clear in my chart. This would be the pumpers jumping out for profit.
This ten cent rise in prices, in two stages, does not fit the pattern of a pump and dump. Adding to this, a pump and dump will display a gradual climb in prices, not a very steep radical jump. A true pump and dump takes time.
A pump can happen in one or two days, which is what we see in charts. This is actually fairly much typical behavior, not all that negative.
Prices "should" fall tomorrow and on into the week. Of course, this is not written in stone. End result might be a little bit higher bottom support.
However, momentum behind a fall like this "should" drop prices below bottom support, a buy chance, followed by prices moving up very slightly, then become level for a time.
Buying just below bottom support affords you a better chance of not losing money, but is not a guarantee of making profits. This is simply a bit better of a buy position.
For a upward trend to develop, this company must provide news of moving into full scale operations which suggests future revenues.
Again, I like this company but GPXM is in the middle of a transition period from the Mineral Ridge operation to the Ashdown moly operations. No doubt, there is a reason for this switch, most likely a good business decision.
This switch appears to be presenting some good buy prices for the long term. I truly think this company will do well in the future.
Purl Gurl
Purl,
What do you make of today's rise in PPS and the latest news and 8k filing?
I will do my own DD too, but what would be the purpose of creating a LLC to run Ashdown?
Limited Liability: Owners of a LLC have the liability protection of a corporation. A LLC exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee.
Flexible Profit Distribution: Limited liability companies can select varying forms of distribution of profits. Unlike a common partnership where the split is 50-50, LLC have much more flexibility.
No Minutes: Corporations are required to keep formal minutes, have meetings, and record resolutions. The LLC business structure requires no corporate minutes or resolutions and is easier to operate.
Flow Through Taxation: All your business losses, profits, and expenses flow through the company to the individual members. You avoid the double taxation of paying corporate tax and individual tax. Generally, this will be a tax advantage, but circumstances can favor a corporate tax structure.
Disadvantages of Limited Liability Company
Limited Life: Corporations can live forever, whereas a LLC is dissolved when a member dies or undergoes bankruptcy.
Going Public: Business owners with plans to take their company public, or issuing employee shares in the future, may be best served by choosing a corporate business structure.
Added Complexity: Running a sole-proprietorship or partnership will have less paperwork and complexity. A LLC may federally be classified as a sole-proprietorship, partnership, or corporation for tax purposes. Classification can be selected or a default may apply.
Golden Phoenix and Win-Eldrich Complete Formation of Ashdown Operating Company
Monday October 2, 1:06 pm ET
SPARKS, Nev. and TORONTO, Oct. 2 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) and Win-Eldrich Mines Limited, (TSXV: WEX) are pleased to announce the completion and signing of agreements that form the operating company, Ashdown Project LLC, that owns and will operate their Ashdown molybdenum mining project in Nevada.
With the formation of Ashdown Project LLC, responsibility for the continued development and supervision of the Ashdown mine property and its mill facility passes to a five-member board representing Golden Phoenix's 60% interest and Win-Eldrich's 40% interest. Continuity of day-to-day operations will be maintained during a transition period by Golden Phoenix under contract to the LLC, with Vice President Operations Don Prahl and Mine Manager Earl Harrison continuing to lead on-site operation of the mine and mill.
Construction of the Ashdown mill, located two miles from the mine, was recently completed. It is a 100-ton per day flotation facility, designed to process molybdenite ore and produce a high-quality commercial concentrate. The mill has undergone successful systems trials and metallurgical tests in the past four weeks and is ready to receive mill feed from the mine.
Work on the mine and mill has advanced under a 1000-ton bulk sample permit, and the full-scale Plan Of Operations is currently in final review at the Bureau of Land Management.
The price of molybdenum oxide, which is the internationally accepted form of the molybdenum disulfide concentrate to be produced at Ashdown, has traded in a $20.00-to-$29.00 range since January 1, 2006, for an average price of $24.45.
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
Posted by NaturalResources on :
GOLDEN PHOENIX MINERALS INC files Prospectus Pursuant to Rule 424
Supplement No. 3 To Prospectus Dated March 6, 2006
This Prospectus Supplement supplements our Prospectus dated March 6, 2006, Prospectus Supplement No. 1 dated August 4, 2006 and filed with the Securities and Exchange Commission on August 7, 2006, Prospectus Supplement No. 2 dated September 6, 2006 and filed with the Securities and Exchange Commission on September 11, 2006 (collectively, the “Prospectus”) relating to the sale of up to 22,191,919 shares of the common stock of Golden Phoenix Minerals, Inc. by Fusion Capital Fund II, LLC (“Fusion Capital”). This Prospectus Supplement No. 3 includes (i) attached Current Report on Form 8-K as filed with the Securities and Exchange Commission on September 29, 2006; and (ii) the attached Current Report on Form 8-K as filed with the Securities and Exchange Commission on October 3, 2006. We encourage you to read this Supplement carefully with the Prospectus.
Our common stock is quoted on the Nasdaq Over-the-Counter Bulletin Board under the symbol “GPXM.OB”. On October 4, 2006, the last reported sale price for our common stock as reported on the Nasdaq Over-the-Counter Bulletin Board was $0.3585 per share.
Directors David A Caldwell Director Ronald L. Parratt Director Jeffrey Tissier Director
Interim Governing Board Kenneth S. Ripley Chairman Ronald L. Parratt Member David A. Caldwell Member
Corporate Officers Kenneth S. Ripley CEO David Caldwell President, COO Robert Martin Secretary, Executive VP
Share Capital Authorized 200,000,000 Issued 147,925,957 Warrants 2,434,265 Options 6,115,715
Corporate Offices Address 1675 East Prater Way Suite 102 Sparks, Nevada 89434 Telephone 775-853-4919 Facsimile 775-853-5010 Email investor*golden-phoenix.com Website www.golden-phoenix.com
Corporate Counsel Scott Bartel & Amy Hanks Bullivant Houser Bailey PC 1415 L Street Suite 1000 Sacramento, California 95814
Transfer Agent Amanda W. Cardinalli, President Nevada Agency and Trust Company Bank of America Plaza 50 West Liberty Street Suite 880 Reno, Nevada 89501 Telephone 775-322-0626 Facsimile 775-322-5623 Email amanda*natco.org
Auditor Charles Roe HJ & Associates, LLC 50 South Main Street Suite 1450 Salt Lake City, Utah 84144
PR/IR Consultant Paul Knopick E and E Communications 25052 Salford Street Laguna Hills, CA 92653 Telephone 949-707-5365 Facsimile 949-707-5375 Email pknopick*eandecommunications.com
Partners Win-Eldrich Mines, Ltd.
Principal Properties
Ashdown Mine Gold & Molybdenum Mineral Ridge Mine Gold & Silver Northern Champion Mine Molybdenum
Posted by NaturalResources on :
10/13 ASHDOWN MINE UPDATE
Ashdown mill receives Occupancy Permit A tour was conducted for mine analyst Mike Kachanovsky (far right). From left, VP Ops Don Prahl, Mill Foreman Jason Layton, Win-Eldrich President, Perry Muller.
The Humboldt County Building Department has issued an Occupancy Permit for the Ashdown Mill, which now allows the mill to commence on-going operations as soon as high-grade material is supplied from the South Zone of the mine. A bond for the mine, in the amount of $216,000, has been approved by BLM, and now moves through the adjudication process toward final posting. The FONSI (Finding of No Significant Impact) is being prepared for publication and managment is standing by for formal notification.
- First U.S. Moly Mine On Line in Current Bull Market -
SPARKS, Nev., Nov. 1 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) today announced that the Bureau of Land Management (BLM) has approved the Plan of Operations for the Ashdown molybdenum and gold mine located in Humboldt County, Nevada. A Finding of No Significant Impact (FONSI) and Decision Record have been issued and signed by the BLM Winnemucca Field Manager.
The mine is operated by the Ashdown Project LLC, a cooperative venture between Golden Phoenix and Win-Eldrich Mines, Ltd. of Toronto, Canada. Ashdown is being readied to produce molybdenite concentrates for sale through a purchase contract with a London-based brokerage.
Approval of the Plan of Operations makes Ashdown the first new U.S. molybdenum mine to come on line during the current commodity bull market. The mine's reclamation plan has also been approved by BLM and a $216,518 bond, posted on October 19, 2006, is awaiting processing for final acceptance. Prior to bond clearance, mining and milling activities are scaling up under a pre-existing bulk sample permit.
Robert Martin, Executive Vice President of Golden Phoenix, commented, "As moly prices continue to consolidate at historically high levels, our mining crews are starting to deliver high-grade material to the mill. Working with Win-Eldrich through our LLC Management Committee, we are preparing to ramp up the production and sale of moly concentrates as rapidly as possible."
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and 60% owner and partner of the Ashdown gold and molybdenum property in Humboldt County, Nevada.
This is huge news for GPXM. With Ashdown set for full production, GPXM should start to see some revenues coming in. I expect GXPM will do well over the next few weeks.
Posted by NaturalResources on :
My hope is that given the recent strength in gold, and the resulting revenues from the Ashdown start-up, GPXM will return the focus to it's gold mine at Mineral Ridge. It will also be interesting to see if they move forward with their recently acquired Northern Champion molybdenum property.
Posted by NaturalResources on :
Posted by NaturalResources on :
Monday, Feb 05, 2007. Press Release Source: Golden Phoenix Minerals, Inc.
Golden Phoenix Activates Its Top Leadership: Prahl Made COO; Martin Named President; Caldwell Replaces Ripley as CEO
----- Addressing the new appointments, David Caldwell said, "When Ken Ripley was asked to lead our recovery back in January of 2005, the Board of Directors had no idea how fully he would commit himself personally, professionally and financially. As a result of his extraordinary efforts, Golden Phoenix is now a leaner, smarter, stronger company, with declining debt and rising cash flow. We are deeply grateful to Ken for delivering a working mine to a revitalized enterprise; it is our job to build on that foundation."
Don Prahl added, "Insofar as my career has focused on optimizing profitability at large-scale gold, moly and copper mines, I intend to build Golden Phoenix and its resource portfolio into something we can all be proud of. With Ashdown now projected to cash flow and self-fund, my first task is to see that it has the people and equipment needed to reach full-scale production as soon as practical. I have also started work on the feasibility studies needed to bring our Mineral Ridge gold and silver property back on line. I am totally committed to establishing exceptional mining opportunities for the benefit of every one of our shareholders."
Robert Martin concluded, "Dave, Don and I have forged a bond in the course of building a new future for Golden Phoenix. My business drive coupled with Don's deep industry knowledge fit well with Dave's exploration skills and public company experience. Add in Dennis Gauger's corporate governance and compliance background, and I believe we have a balanced team that hears our stockholders loud and clear: Grow share value, ramp-up moly sales, stoke-up reserve capital, reopen Mineral Ridge, and expand reserves through exploration at Ashdown, Mineral Ridge and Northern Champion."
Posted by NaturalResources on :
Golden Phoenix Reports Progress at Ashdown Molybdenum Mine; Mining Crews Encounter Further High-Grade
Nice gap up this morning on strong volume. Should test the 200MA of 0.36/shr today IMO.
Posted by NaturalResources on :
Strong volume again this morning, B 0.36 x A 0.363....
If we can break through and hold above the 200MA of 0.36, we should move up to around 0.38-0.39/shr before hitting some resistance.
Posted by NaturalResources on :
GPXM moving up again. It has already broken past the resistance at 0.37... Currently B 0.380 x A 0.383, with over 330,000 in volume.
They recently filed a notification of late filing for the 10K but IMO this is nothing to worry about. When it is filed, within 15 business days of 4/2, it should reflect GPXM recent MolyB sales, which as of March should total close to 1$mil USD.
Keep this one on your watch list IMO, but always do your own DD.
Posted by Sapper on :
This one is getting more interesting. Volume has also increased during the last 30 days what may signal we are on the way probably up. A small consolidation is expected now. Moly may have a good year in 2007. FTS
Posted by NaturalResources on :
Allstocks Exclusive __________________________________________________ My email to "Chat Shack" on the GPXM homepage:
To whom it may concern,
Can you give us some more information as to why the latest form 10K is being filed late?
The 10-K is a massive document and involves the efforts of a team of in-house accountants, outside accountants, independent auditors and corporate attorneys. It is very common for last minute adjustments and corrections to be made as the document is finalized. The SEC allows for this activity by providing a 15 day extension period in order to wrap up these types of details. There is nothing unusual about this extension as the Company continues its preparation of the documents for submittal.
Best regards,
Rob Martin President GPXM
Posted by NaturalResources on :
quote:Originally posted by NaturalResources: .....
They recently filed a notification of late filing for the 10K but IMO this is nothing to worry about. When it is filed, within 15 business days of 4/2, it should reflect GPXM recent MolyB sales, which as of March should total close to 1$mil USD.
.....
I just want to make a correction here, I believe all the recent MolyB sales were after the first of the year so the 10KSB annual report for 2006, when filed, will not reflect these sales.
However, they should show up on the Q1 10QSB quarterly report. Last year's Q1 was filed May 19th, ~1 month after the 10K was filed. Sorry for the mess up.
NR.
Posted by NaturalResources on :
GPXM still moving strong... Looks like it might test the 0.40/shr resistance level today.
B 0.390 x A 0.393 with close to 500k in volume.
Posted by NaturalResources on :
Tuesday May 1, 8:52 am ET
SPARKS, Nev.,
Golden Phoenix Minerals, Inc. manager and majority owner of the Ashdown Project LLC, a Nevada-based molybdenum mine, announces the start of an Induced Polarization (IP) survey by Gradient Geophysics, a geotechnical exploration firm. The IP survey, which is expected to take approximately four weeks, is designed to identify potential molybdenum targets within sections of Ashdown's 2,000-acre claim group.
David A. Caldwell, CEO and Chief Geoscientist for Golden Phoenix, commented on the survey, "The physical properties of Ashdown's molybdenite deposits appear well suited to this type of exploration. IP is capable of creating images of the subsurface over large areas quickly, accurately and inexpensively, helping us to direct follow-up surface drilling and underground exploration."
Induced polarization employs transmitters and electrodes to send and receive an electric current through the ground, measuring its conductivity and capacitance. The work is performed at precise intervals along a predetermined grid, and the resulting imagery is then assembled into a three-dimensional model pinpointing possible mineral bodies to a potential depth of hundreds of feet.
The survey will center on current underground mine operations and cover a grid extending 1600 feet along the Sylvia molybdenite vein. It will model the existing Sylvia shoot to gain a "fingerprint" that can be used to identify potential analog targets. A three-dimensional image will be generated to show the location and size of potential moly mineralization and help guide present mining operations and future drill and drift exploration.
Two year chart shows support at 0.27/shr, 0.32/shr and 0.38/shr. Resistance at 0.47/shr, 0.50/shr, 0.52/shr with a 52wk high of 0.56/shr.
Recent insider transactions include buys by new employees at 0.32/shr and 0.38/shr, and sells at 0.40/shr and 0.44/shr by the the former-CEO.
While GPXM has made huge gains since Jan of 06, I still think this stock will move higher. It reached it's 52wk high in May of 06 following news of the company moving to start up production at Ashdown.
Since that time, MolyB production has begun and the company is currently selling concentrate, while also taking steps to increase production. Please see the company website for more details.
Further, the company is in the process of updating reserves at Ashdown. As stated by David Caldwell "...our present mining footprint occupies less than one-third of the known fault zone and represents a small fraction of the total claim area awaiting systematic exploration..." (See recent PR from May 1).
The company is also working on a feasibility study to bring it's Mineral Ridge gold mine back into production. In addition, they plan to do exploration work on their newly acquired MolyB Nothern Champion property this summer.
If the company keeps it's word, like it has by bring Ashdown into production, look for this stock to move higher as the news about Mineral Ridge and Northern Champion comes out. I would also expect a jump in price when the updated NI 43-101 technical report for Ashdown is released.
IMO, this company is an exception to most penny plays, and I view it as a long term hold. Of course, this is all IMO, and as always, before you buy anything.... DO YOUR OWN DD.
Nice upward movement today, with an intra-day high of 0.52/shr. Volume is strong with ~3.9 million shares traded so far, the largest one day volume for the last 2 years.
Six month chart shows clear uptrend and increasing volume with the "golden cross" approaching. IMO, GPXM still looks good both long and mid-term, though short term, RSI indicates the stock is overbought and is probably due for a small correction. I plan on picking up a few more shares if it drops to the 0.38/shr range.
GLTA and DYODD, NR.
Posted by NaturalResources on :
May 8th sales include: 25,000 sold at 0.465/shr and 25,000 at 0.475/shr.
May 9th sales include: 25,000 sold at 0.495/shr and 25,000 at 0.505/shr.
While I am a bit unsettled to see Mr. Rippley selling shares, he still owns 2,740,545 shares of GPXM and the last two Form 4s filed only represent ~3% of his total holdings. Also, while he does know more about GPXM than the average investor, being the Ex-CEO, he is "out of the loop" as of 01/31/07, and I haven't seen any sales by those who are still employed by GPXM.
The form states that Sprott Molybdenum Participation Corporation now owns 15,000,000 shares, or 8.2% of GPXM's total outstanding shares, to be used for it's Molybdenum fund. ( http://www.sprottmoly.com/home.htm ).
Other participants in this fund include Blue Pearl Mining (TSX: BLE; Pinks: BLEFF), which is the world’s largest publicly traded primary molybdenum company and Roca Mines (TSX: ROK; Pinks: ROCAF), an up and coming Molybdenum miner that expects to begin production at it's MAX Molybdenum Deposit in Revelstoke, British Columbia, sometime this year.
Posted by NaturalResources on :
Eric Sprott BNN transcript from May 7th, 2007
Transcript from Eric Sprott interview on his Moly Fund and the Economy
Why is there so much interest in Molybdenum right now?
Moly in not unlike other metals that we fully understand and I speak to nickel and copper and zinc and lead where we can all see the inventories declining and we see that there is more demand versus supply that's why the price goes up. In the case of moly, you don’t see the inventories but I would venture to say that the factors affecting all base metals also is affecting molybdenum and that supply has exceeded demand for probably the last 3-4 years and now we find ourselves in a shortage.
You’re going to invest in both companies that are exposed to moly and the commodity itself, why this approach?
As you are aware there is a Sprott uranium participation corporation which only invested in uranium. We were a factor involved in starting that and I think one of the mistakes we made was not investing in the common equities because common equities obviously outperform the metal and that’s why we chosen to do both the equities and the metal in the new moly fund because I think the equities, which has been demonstrated in the last month or so, have done incredibly well over the very short period here.
Why have you not included Adanac Molybdenum in the fund?
We didn’t buy the recent Adanac purchase probably because at the time we thought there might have been better ore bodies around that we should invest in. As you probably know, our major investment is in Blue Pearl in terms of dollars we also are very large owners of Moly Mines, which is based in Australia and Idaho General that is in the United States and Adanac and those 2 companies are probably the most likely to start up a new mine in the near term within the next 2-3 years. But we just thought that the other ones were a little more appropriate to our investment styles at the present time, we may come back to Adanac, we have not invested all the funds that we raised – we probably only invested about 75% of the 200 roughly million that we raised so we may go there yet.
So it sounds like your criteria are companies who are producing or are very close to producing?
That’s where are primary investments are, you want to be somewhere either with a producer which is our largest holding or a company that is close to production because you want to be able to net present value on it and just see what you’re buying in the market place and that’s kinda where we focus with the bulk of our funds.
Do you think private equity is eventually going to target some of these moly companies and take them out?
I think it’s obvious from all the resource plays that are going on here and the takeovers that perhaps the market has not properly valued resource companies that would be our view. Between the mining companies and private equity anything could happen here.
Golden Phoenix Reports Molybdenum Sales Now Total $3.3 Million at Ashdown Project
SPARKS, Nev., May 15 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM), manager and majority owner of the Ashdown Project LLC, a Nevada-based molybdenum mine, reports that, as of May 10, 2007, six lots of molybdenum (Mo) concentrate, totaling approximately 267,900 pounds, have been produced and sold at a combined value of nearly $3.3 million.
Each lot consists of 12 Supersacks with each Supersack containing approximately 3,950 pounds of concentrates averaging 54% elemental (Mo). Since product sales began in 2006, the Ashdown Project LLC has gross revenues of $177,000 in Q4 2006, $798,000 in Q1 2007 and $2.3 million thus far in Q2 2007, as the mine continues to ramp up toward full production capability.
The mine is providing mineralized material to the mill at a rate of approximately 80 tons per day. However, there is daily variability in production tonnage resulting from the balance between mining of molybdenite within the vein structure versus development work occurring in the unmineralized footwall. Development crews have recently completed a second refuge chamber, powder magazine, water sump and load out area. Further development will be required, including driving a secondary escape way and installing a sand line and additional ventilation. This work will continue through the summer, and sustainable production at full capacity is expected only after further development has been completed.
The Ashdown mill continues to refine its operational efficiencies, with bagging of in-spec concentrates at rates typically ranging between one and two Supersacks each 24-hour period. The rate of production directly correlates to the head-grades of molybdenite, which routinely range between 1% and 4% Mo, and have averaged 1.39% Mo to date due to inclusion of dilutionary rock from development work. April also saw a record 26 milling days resulting in the processing of more than 2000 tons of mill feed. This tonnage will continue to be variable until a sufficient number of stopes have been developed to achieve steady state production rates.
GPXM did the same thing with it's 10K for 2006, and filed it within 15 days as required by the SEC.
IMO, this latest notification is nothing to worry about, and based on this morning's PR we should see revenues from Molybdenum sales of ~$798,000 for Q1 2007, or ~4x the revenues from Q4 2006.
While I would expect an increase in PPS when the Q1 2007 results are released, IMO the real story will be told when Q2 results are released.
Revenue for Q2 from Molybdenum sales, according to this mornings PR, is already $2.3 million. While output at Ashdown is not yet steady, with 1 1/2 months to go in Q2 one could estimate between ~3-4 million for the end of the second quarter. Even if revenue for Q2 only reached ~3 million, it would still be higher than ALL of GPXM's revenue for 2004, 2005 and 2006 combined!
IMO, the PR this morning was huge and, barring any unexpected bad news, PPS should continue to trend upward over the next several months. Also, with drilling results from Northern Champion expected this summer, the results from the IP survey expected within 4-5 weeks, and a new feasibility report for Mineral Ridge expected any time, Q2 2007 should be a blowout quarter for GPXM.
This is all IMO of course, and DYODD.
GLTA, NR.
Posted by NaturalResources on :
Ashdown Project Final Environmental Assessment, Nevada Bureau of Land Management (Includes topo maps, permits, etc PDF Format)
Information on The Santa Rosa Gold/Moly project owned by ACTION MINERALS INC. (Tier2) (CDNX:ATM.V)
The Santa Rosa Gold/Moly project consists of the Cold Creek, Cold Spring and Fury Properties, three contigious claim groups, one of which adjoins GPXM's Ashdown Mine.
Report on the Cold Creek Property from Action Minerals:
Golden Phoenix to Highlight Its Molybdenum Achievements at Metals Forum in New York City on June 5th
Wednesday May 30, 2007
SPARKS, Nev., May 30 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM), manager and majority owner of the Ashdown Project LLC, the first new U.S. molybdenum mine to enter into production of moly concentrates during the current record price consolidation, has been invited to participate in the Ryan's Notes Noble Alloys Forum in New York City on June 5th, 2007.
CEO David Caldwell and President Robert Martin will attend the forum on behalf of Golden Phoenix and participate in a panel discussion on molybdenum, scheduled to start at 9:30 a.m. Caldwell and Martin will present slides of the current molybdenum production and sales taking place at the Ashdown Mine. Ryan's Notes has scheduled Golden Phoenix to participate on the panel with Ian J. McDonald, Chairman of Thompson Creek Metals Company (formerly Blue Pearl Mining), Scott Broughton, President of Roca Mines, and Mark Larsen, President of U.S. Energy Corp.
Ryan's Notes is a leader in reporting on the ferrous and non-ferrous metals industries, providing newsletters and conferences on metals, mining developments and market conditions. The daylong forum, entitled "What the Future Holds," will begin at 7:30 a.m. and feature a series of presentations at the New York Athletic Club, 180 Central Park South. For information on the forum, visit http://www.ryansnotes.com/conferences.htm or call 914-738-7386.
Ashdown Mine Issues Its First Cash Distribution of $1.25 Million to Golden Phoenix and Win-Eldrich From Q2 Molybdenum Sales
Wednesday July 11, 2007
SPARKS, Nev., July 11 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), Manager and majority owner of the Ashdown Project LLC, a Nevada-based molybdenum mine, reports the distribution to Ashdown co-owners Golden Phoenix and Win-Eldrich Mines Ltd. of $1.25 million in available cash generated from second quarter molybdenum concentrate sales.
Of the total $1.25 million distribution, Golden Phoenix received $750,000 and Win-Eldrich received $500,000, in accordance with their current 60/40 ownership split. This represents the first distribution to be made to the owners since the Ashdown Project commenced sales of molybdenum concentrates in December of 2006 and does not reflect Golden Phoenix' claim to an additional 9.5% ownership interest currently being arbitrated.
The distribution was authorized at an Ashdown Management Committee meeting held on June 28, 2007. Under terms of the Operating Agreement governing the Ashdown Project LLC, a quarterly distribution of available cash may be made once current mining costs plus one month's advance operating expenses have been paid in advance or reserved. Full financial information on mine operations will not be available until Golden Phoenix completes its second quarter financial statements.
GOLDEN PHOENIX MINERALS INC files Prospectus Pursuant to Rule 424
Thursday July 12, 2007
This Prospectus relates to the sale of 21,343,178 shares of common stock, no par value per share, by the Selling Security Holders listed under “Selling Security Holders” on page 44, of which 50,000 shares of common stock are to be issued in connection with financial advisory services. This Prospectus also covers the sale of 10,600,000 shares of our common stock by the Selling Security Holders upon the exercise of outstanding warrants. We will not receive any proceeds from the resale of any common stock by the Selling Security Holders sold pursuant to this Prospectus. We will receive gross proceeds of $ 4,240,000 if all of the warrants are exercised for cash by the Selling Security Holders.
Our common stock is quoted on the OTC Bulletin Board under the symbol “GPXM.OB”. On June 27, 2007, the last reported sale price for our common stock as reported on the OTC Bulletin Board was $0.35 per share.
quote:SPARKS, Nev., Aug. 27 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), is pleased to announce posting of its first profit since its formation in 1997, with net income reported in the quarter ended June 30, 2007 of $1,058,688 or $0.01 per share. Net income resulted from the production and sale of molybdenum concentrates, totaling $4,466,470, at its majority-owned Ashdown mine plus a gain on extinguishment of debt related to restructuring of a preexisting obligation.
Addressing the financial results, David A. Caldwell, CEO of Golden Phoenix, said, "Two-and-a-half years since we began restructuring Golden Phoenix I am proud to witness our first quarterly profit. This milestone accompanies the success we have achieved in building the Ashdown mine and mill. Our progress in ramping up production at Ashdown allows us to allocate resources to development of the other molybdenum and gold properties in our portfolio, and to begin the hunt for new opportunities."
During the second quarter, management was also able to extinguish $537,309 in debt through the restructuring and assignment of a loan obligation incurred to construct the Ashdown mine. This brings Golden Phoenix's cumulative total gain on extinguishment of debt to $5,793,928 since 2005, when restructuring began.
Golden Phoenix Reports on Ashdown Mine Development and Molybdenum Production Thursday September 6, 8:30 am ET
quote:SPARKS, Nev., Sept. 6 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to report that operational efficiencies continued to improve through the second quarter as production capability was expanded at its majority owned Ashdown Project LLC business unit, operated through a joint venture with Win-Eldrich Mines Ltd. Development work at Ashdown has been ongoing, with full-scale production from multiple stope headings targeted for early 2008.
During the second quarter of 2007, the Ashdown Project LLC posted sales of molybdenum concentrates totaling $4,466,395, which represents an increase of over $3.6 million, or 460%, from its first quarter sales. Operating costs and expenses for the second quarter were $2,276,789, compared to $1,680,068 for the first quarter reflecting an acceleration in budgeted staffing from approximately twelve to twenty-four miners and from approximately nine to eighteen milling and support personnel, as well as other costs related to the ramp up in production.
The advancement in development at both the mine and mill resulted in a total of 144,882 pounds of molybdenum (Mo) being sold in the second quarter at a cost of $15.71 per pound as compared to 64,942 pounds at $25.87 per pound during the first quarter. These per-pound calculations represent fully loaded, total costs that include ore production, barren-rock development, general and administrative expenses, accretion, depreciation and amortization expenses.
Golden Phoenix Announces Major Expansion of Mineral Rights at Ashdown Molybdenum Mine
quote:SPARKS, Nev., Dec. 26 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce the completion of a staking program that has added 193 claims to the Ashdown Molybdenum Mine in northwestern Nevada. This represents a 191% increase in unpatented load claims under the control of Golden Phoenix and its partner, Win-Eldrich Mines, Ltd., bringing the total land package of the Ashdown Project LLC to 294 claims covering 5,880 acres along trend.
The claims were staked during the past three months and have been recorded in Humboldt County and filed with the Bureau of Land Management. One block of claims extends to the west, and links the mine, which is located on Federal lands, with the mill and tailings facilities built on private property under long-term lease to the Project. A second block of claims adjoins the southern boundary of the mine, following quartz outcroppings and moly shows on-trend along the Pine Forest Range.
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