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[QUOTE]Originally posted by NaturalResources: [QB] [b]Ashdown Mine Issues Its First Cash Distribution of $1.25 Million to Golden Phoenix and Win-Eldrich From Q2 Molybdenum Sales[/b] [b]Wednesday July 11, 2007[/b] 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. ..... Full Text At: http://biz.yahoo.com/prnews/070711/law079.html?.v=101 [/QB][/QUOTE]
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