Golden Phoenix's Ashdown Project Completes Second Sale of Molybdenum Concentrate
Thursday January 25, 5:00 am ET
ca.us.biz.yahoo.com
SPARKS, Nev., Jan. 25 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) is pleased to announce the sale of the second consignment of molybdenum concentrate produced by the Ashdown Project LLC at its mine and mill located in Humboldt County, Nevada.
A sale of eight Supersacks of concentrate was made to Derek Raphael & Company of London, England. The consignment weighed more than 29,000 pounds and contained over 15,000 pounds of elemental molybdenum. The eight Supersacks have been combined with the December 2006 sale of four Supersacks to comprise a 12-sack shipment with a combined provisional value in excess of $500,000. A final value for the shipment will be determined following delivery and processing of the material.
Earl Harrison, Mine Manager for Ashdown Project LLC, said, "This sale marks the continuation of the systematic ramp-up toward full-scale production. We are engaged in a progressive campaign to improve our milling and mining methods to increase our production rates. Current production is coming from the stope we opened in the Sylvia vein last December. Development crews have begun driving drift on a second access point that, when completed in the coming months, will allow us to significantly increase our production rate. We have finalized plans to expand our labor base through an aggressive recruitment campaign and are permitting the construction of additional staff housing and support facilities near the mine."
Ashdown Project LLC is a Nevada company owned jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.
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 majority owner and partner of the Ashdown Project LLC gold and molybdenum property in Humboldt County, Nevada.
Visit the Golden Phoenix Web site at golden-phoenix.com
Forward-Looking Statements. Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward-looking statements as a result of a number of factors.
CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
Executive Vice President for Strategic Development
775/853-4919
E & E Communications
Paul Knopick
949/707-5365
pknopick@eandecommunications.com
Source: Golden Phoenix Minerals, Inc. |
