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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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From: PayShhhhence	1/11/2008 3:08:11 PM
	Read Replies (1) of 811

Lot 18 is Q1.......... shipped 2 days ago.... 4 SSs of Lot 18 were completed before the end of Dec 07. We EQUALLED second quarter numbers. Headgrades at the mill are around 1.7% but DO vary..... A realistic target for Ashdown production in 2008 is closer to 4 Lot quarters by the end of the year...... The drill rig will MOST LIKELY be at MR for the YEAR. We will probably contract out for a second drill rig to focus on the aread directly around Sylvia........... To seek out and prove up an ADDITIONAL SOURCE (like WHERE Sylvia came from) can take up to 3 years of geological/drill work..... For those of you interested the tailings....they can STILL be processed even after the tailings impoundment is full, HOWEVER, after the recent increase(s) in moly recoveries there is a corresponding decrease in the moly in the mill tailings discharge.......... : )

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