GOLDEN PHOENIX MINERALS, GPXM Message Board

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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM

GPXM 0.0001000

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Nov 7 9:30 AM EST

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To: Tim Hall who started this subject	4/27/2002 10:56:57 PM
From: bill-kelly	of 811

Update on Golden Phoenix I recently wrote a check via the PP program to get a position in this stock. While talking to Burt E. a few days ago, he basically confirmed their news release of April 16th, 2002 that the company has sources to finance the full bond amount in the near future with the strong expectation of mining this summer. Once the full bond is completed, then GPXM can buy the cyanide and "turn on the valve" to finish processing the approximately 50,000 oz in the final heap leach pads. This should make the company "cash flow positive" over the next two years as the gravity mill and facilities are designed and constructed (to be mainly paid for through equipment leases). Once complete, most of the ore will be processed via gravity mill (long belt system that shakes with heavier gold staying in center of belt), followed by a quick cyanide drench. This whole process will be very quick, one to two days to get the gold. If the POG continues strong, this is where GPXM will return excellent value to shareholders, providing the business plan is executed in a timely and efficient manner, which we all are certainly hoping for!! Regards to all, Bill

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