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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM
GPXM 0.00010000.0%Nov 7 9:30 AM EST
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To: Tim Hall who started this subject4/28/2002 7:14:02 PM
From: bill-kelly  Read Replies (1) of 811
 
Forgot to mention solvency issue. If GPXM can remain solvent
and execute their business plan the company and stock should
do well in this pro-gold environment. I have confidence in
Management, W&W, and in their properties. It is the financing
issue which is the biggest risk factor here pushing this stock
into the somewhat speculative area.

Having said that, I am positive on the company but feel for Mike
and Steve (operations mining guys) who have had to spend a lot of
the last 5 years (since 1997) raising funds,
borrowing money, raising funds and borrowing money. There is light
at the end of the tunnel however. I went back over Mike's interview
with the Wall Street Reporter (under What's New on the website, April 5, 2002
click on hot link to access) and he said he is hoping that GPXM can produce
1,000 oz of gold per month once the final bond is approved (and the 2M operating
capital is obtained). At a cost of $150 an oz to process that leaves $150 oz profit times 1,000
times 12 equals an annual cash flow of 3.6M and a hopeful profit of 1.8M from mining before other costs are included.
This is up from previous estimates of 1.4M per year for the first two years. Basically, any kind of positive cash flow
will stabilize the company's finances and help ensure we continue operating until the gravity mill
is designed and built and operating.
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