Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

*** Gold related post (GPXM) ***

Now that is interesting. The gold pullback I was expecting/hoping for hasn't arrived, and I have only half my WHT in tow. Not complaining, just wondering if I'll ever get an opportunity to pick up some GSS...
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Hi Joe Bob,
I think the market abounds with partially 'sold out bulls' who are hoping that their expected pullback materializes before the stocks of their choice disappear over the horizon. <GG>

That's why I NEVER try to play the ST wiggles with any of my core positions. It cost me a lot of bucks last year to get that lesson drummed into my thick, but devilishly handsome skull..... <VBG>

Funny how some folks find it harder to sit on a profit than to sit on a loss.......

What I find amazing in that 'picture' of the Gold COTs is how the small bullish specs (the yellow column) have so far managed to hold back from piling on to the current strength in the PoG. To me, it implies that we a) still have some room on the upside or b) that any break from these levels will be fairly mild compared to what happened the last time we trekked these upper $380 levels or c) I don't know diddley squat about what I'm talking about......

Fwiw, The company highlighted below may be a viable alternative for some of your WHT dollars.

They have an interesting bizplan and, imo, I think will prolly double from current levels well before WHT accomplishes the same % gain from here.

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Golden Phoenix Minerals Signs Letter Agreement for Ashdown Gold-Molybdenum Project With PRS Enterprise LLC

Tuesday September 23, 11:30 am ET

RENO, Nev., Sept. 23 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), a mineral-property development company, announced today that it has signed a Letter Agreement with PRS Enterprise LLC of Incline, Nevada to operate the Ashdown gold-molybdenum project in Humboldt County, Nevada. PRS, a mining resources management company, has signed a Letter Agreement with Win-Eldrich Mines, Ltd, Toronto, Canada giving PRS rights to the Ashdown project upon financing the first $1.5 million to develop the project.
The terms of the agreement grant Golden Phoenix 40 percent, PRS 30 percent and Win-Eldrich 30 percent after payback of the full investment to the investment group. During payback the net profits of the operation will be Golden Phoenix at 20 percent, Win-Eldrich at 10 percent and PRS at 70 percent.

The Ashdown mine previously produced about 50,000 ounces of gold from underground ores averaging about 0.35 ounces per ton. This production took place from about 1880 to 1942. More recently, about $8 million was spent drilling 270 holes, performing metallurgical test work, excavating an 1800-foot tunnel for bulk samples, and feasibility studies for potential open pit and underground mining operations. Those studies identified gold and high-grade molybdenum resources on the property.

As operator of the project, Golden Phoenix will be fully funded to perform the requirements of construction and start up of the new mine. The $1.5 million initial funding will be used to perform additional geological evaluations, begin the permitting process, complete a detailed ore reserve audit, conduct additional in-fill and step-out drilling, begin design and engineering, and confirm prior metallurgical studies. The three parties intend to complete a formal joint venture agreement within the next three months.

Golden Phoenix Minerals, Inc. is a mineral-property development company headquartered in Reno, Nevada. It specializes in acquiring and consolidating large, advanced-stage properties with potential for near-term production and good resource development potential. Acquisition and development emphasis is on deposits containing gold, silver, copper and other strategic minerals that are located in Nevada. The Company has just begun operating the Mineral Ridge gold mine in Nevada.

Visit the Golden Phoenix Web site at http://www.Golden-Phoenix.com/

Contact Michael Fitzsimonds, President at 775-853-4919

http://biz.yahoo.com/prnews/030923/latu043_1.html