GOLDEN PHOENIX MINERALS, GPXM Message Board

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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM

GPXM 0.000001000

-99.0%

May 28 1:24 PM EST

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To: Robert J Mullenbach who wrote (321)	2/12/2002 10:55:50 AM
From: KipferlMeister	Read Replies (1) of 811

<<if Mineral has 3 to 5 mil ozs , not too worried>> Granted, but in the shorter term, the company's remaining 500,000 ozs. don't leave a whole lot to hang one's hat on from a valuation perspective. The only way of estimating value of a non-producer is by way of in-ground reserves, and for GPXM, 3/4 of those reserves have just been vaporized. I'm willing to wait and see how things play out, but can't pretend I'm not very, very angry about this. The company must really have been desperate. Let's see what happens.

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