- 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.
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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."
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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.
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Cleveland-Cliffs Inc NYSE:CLF Price USD$36.10 Market Cap (intraday): 1.50B
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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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 ]
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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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."
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"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?
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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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...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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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...
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.
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.
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.
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.
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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.
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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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.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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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....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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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.
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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...
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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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."
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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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.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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"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.
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.
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.
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.
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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.
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