I think maybe they found some funding, with this volume .
They should be in production in June, so that sure is not going to hurt.
Nice to see a day like this, nice come back to .21 on ASK..
maybe some of the warrants @.13 or PP @.10 were turned into cash, if not now, they probably will in future, if GPXM can
stay up here.
biz.yahoo.com
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On October 25, 2000, J. D. Welsh assigned it's 32% interest in Borealis to Newmex Nevada, Inc. In October 2000 Golden
Phoenix Minerals, Inc. acquired from Newmex Nevada, Inc. it's 32% interest in the Borealis project for 3,000,000 shares of
Golden Phoenix Minerals, Inc. common stock, and 3,000,000 of two year warrants to purchase one additional share at a strike
price of $0.13 per share. The shares are restricted under SEC Rule 144.
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INVESTING AND FINANCING ACTIVITIES
The Company is investigating potential financing sources and is in discussions with potential joint venture partners. In 1999 the
Company negotiated a stock option agreement wherein it has been receiving $20,000 per month in cash, enough to meet its basic
operating needs. The party holding this option agreement has fallen short of the purchase agreement by $95,000.
The Company is currently offering a Private Placement under Rule 144 to raise $500,000. The offering consists of units priced at
$0.10 for one restricted common share and a two year warrant to purchase one restricted common share for $0.10, with a
minimum investment of $10,000. No assurance can be given that the Company will obtain all of the financing required to maintain
its property positions. |
