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[QUOTE]Originally posted by NaturalResources: [QB] 20-Aug-2007 [b]Form 10QSB for GOLDEN PHOENIX MINERALS INC /MN/[/b] http://biz.yahoo.com/e/070820/gpxm.ob10qsb.html 27-Aug-2007 [b]Golden Phoenix Posts Its First Profit; Net Income Tops $1 Million in Second Quarter[/b] http://biz.yahoo.com/prnews/070827/lam048a.html?.v=1 [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.[/QUOTE]31-Aug-2007 [b]GOLDEN PHOENIX MINERALS INC /MN/ Financials (Via Yahoo Finance)[/b] http://finance.yahoo.com/q/is?s=gpxm.ob [/QB][/QUOTE]
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