GOLDEN PHOENIX MINERALS (GPXM)

[oneofsix]

diggg.........

The WORST thing we can do as investors is BUILD UP the company and it's properties PAST their CURRENT capabilities.....

IN THE END it just leads to disappointment.

FOR US "survival" has been the most important thing for us.

WE were a cat's whisker away from bankruptcy and renigging on our JV agreement.

WEX probably was "hoping" for such a thing as we had advanced the mine fairly far, and gotten MOST of the permitting out of the way..........BUT were in a cash flow bind.

I'm guessing they figured they could work out a deal for the milling facilites and land lease and continue on with an alternative JV partner with a BETTER deal than their current 60/40 deal...........

I'm extremely pleased that we ducked that food fight..........

I'm all for MR, and I want the company to maintain it's 100% ownership........

GOLD is gold no matter HOW you look at it......

To quote Rob "To date, the heap leach operation which has been tried by three separate entities over the past eight years has failed to deliver gold production at a profit. Is it not better to leave the gold in the ground until a profitable method of extraction has been engineered? If gold prices continue to rise, then the value of our shareholder’s in-ground resource will also rise, awaiting the time that we can recover it at a cost that is less than the value of the metal recovered."

From a different correspondance:

"MR has silver in approx. equal amounts to the gold. Our dore bars contained roughly 50/50 gold/silver."

From a different correspondance:

"We are doing various work with BLM and MSHA to keep the property in compliance while we continue our engineering review and corporate analysis."


I consider MR fallow ground...... STILL very valuable, BUT inactive.

WHEN they get all them ducks in a row, we will re-vist the properties and re-address the minerals there.......

TRUST ME...THIS is going to take a LONG (friggin') time.....

SO...... treat it like WHAT it is......

A property with unrealized potential.......... that will require TIME to sort out.

NOW???????????

We need to enjoy Ashdown and what will come from it........

And look forward to MR's eventual return to production.


To attempt to cast a hungry eye in that direction will simply lead us back to the same frustration we felt with the Ashdown drifting and POO approval.............

The WHOLE process was almost a year and a half.
In SLOW MOTION.............