Apparently yes.....
GOLDEN PHOENIX REPORTS 50 PERCENT INCREASE IN CONCENTRATE PRODUCTION AND SALES AT ASHDOWN MOLYBDENUM MINE - WORLDWIDE MOLY PRICE CONTINUES TO RISE
SPARKS, NV, June 16, 2008 - Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) reports that so far this year, the Ashdown Project LLC has generated sales of twelve lots of molybdenum concentrate, a 50% increase in the production rate compared to the same period in 2007.
Increased concentrate production is attributed to sustained mining of high-grade ore and consistent mill operations. Mine equipment availability has improved and recent underground development has reached a zone of quality ore at lower levels in the mine. Mill operations are achieving 90% availability due to implementation of an expanded preventative maintenance program and improved materials and parts availability. Mill recovery is consistently above 90%.
A “lot” consists of 12 Supersacks of molybdenite concentrate totaling approximately 23,500 pounds of contained molybdenum, which is shipped as a single unit to the buyer. Every Ashdown lot shipped this
year has exceeded minimum specification standards. The weekly average price of molybdenum oxide, used to buy and sell product internationally, has risen $1.30 to $33.50 a pound over the past three weeks. Molybdenum oxide prices have increased more than 400% over the past five years.
The Ashdown Project LLC is upgrading its mobile equipment fleet and mine infrastructure. The mine recently received a new Atlas Copco ST-2G Scooptram. A second scoop and two haul trucks are on order for delivery this summer and fall. The new equipment will replace older leased equipment. Mine infrastructure will also improve with a power systems upgrade, a larger main ventilation fan and a larger air compressor. These additions will improve working conditions for the miners and productivity of the crews.
Please visit the Golden Phoenix website at golden- Phoenix.com/
Golden Phoenix Releases Q1 Results: Ashdown’s Sylvia Vein Yields Outstanding Molybdenum Grades; Mineral Ridge Drilling Advances -- Full Production Anticipated for Ashdown in 2008
SPARKS, NV, May 15, 2008 - Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) today released its first quarter results for 2008. As a result of Ashdown Project LLC mining activities, sales
totaled $4,061,224 for the three months ended March 31, 2008 as compared to sales of $798,112 for the three months ended March 31, 2007. The Ashdown Project LLC is a primary molybdenum (Mo) mine in Humboldt County, Nevada owned 60% by Golden Phoenix and 40% by Win-Eldrich Gold, Inc.
The Company also announced that mining operations at Ashdown have reached the 4450 level of the Sylvia Vein, encountering mineralization assaying 4.5% Mo across the 15-foot-wide vein. The 4450 level lies 55 feet down dip from the 4490 drift, and confirms that the core of the known ore body continues at grades and dimensions comparable to those encountered at higher elevations.
Over the past several weeks, head grades have averaged 2.25% Mo at the mill, and production continues with the recent completion and sale of Shipment #26 and production of seven sacks of Shipment #27. Year-to-date, nine complete shipments of moly concentrate totaling 308,362 dry pounds of concentrates have been produced. Milling operations continue to exceed expectations with recoveries averaging 92%.
Kent Aveson, General Manager of Ashdown, states, “I am pleased with our overall progress at building consistent production at our mine. Mill availability was 97% last month, and our last 14 shipments have exceeded specifications. While we have yet to complete the infrastructure needed to achieve sustained mine production of 100 tons of ore per day, we are we steadily advancing toward that goal.”
Progress on construction of the secondary escapeway has reached 220 feet, with approximately 120 feet remaining. The escapeway is a 10-foot-wide tunnel leading from the surface to the underground workings along a 13% down slope. In addition to emergency escape, the second portal will provide for ventilation, utility access, and movement of miners and materials needed to expand daily tonnage production.
Mr. Aveson continued, “We recently added 19 personnel to our staff, filling out critical positions underground, at our mill and in our maintenance department. We are looking to acquire additional mining equipment and continue to improve infrastructure as we mine and mill ore. The price of moly is holding well above $32 per pound and our quality control measures are currently delivering high-quality product to our broker.”
Activities at Golden Phoenix’ wholly owned Mineral Ridge gold mine are progressing on schedule. West Coast Environmental continues with its feasibility evaluation of the pit reserves and mining plan. Engineering of the dry stack tailings system has been completed by AMEC and design and operational concepts are scheduled to be presented to Nevada’s Department of Environmental Protection for comments in the coming weeks.
Condemnation drilling at Mineral Ridge, performed to rule out underlying ore bodies beneath prospective mill sites, has begun. This drilling should be completed by month’s end. New permitting for the project will begin once condemnation drilling has been evaluated and preliminary layout drawings of configurations for component placement are generated. The Technical Services Group has been actively pursuing available process equipment.
The heap leach pad has drained down quickly over the last month and evaluation drilling of the remainder of the pad remains on schedule. Additionally, much of the deep drilling for structure evaluation has been completed and assessment of the geological information garnered is underway.
Please visit the Golden Phoenix website at golden-phoenix.com
May was a 3 Lot month June was apparently 4..
"Over the past several weeks, head grades have averaged 2.25%..."
From Jay Taylor Sept 07
"In order to achieve four shipments per month, its operation must have head grades of about 2.3% Mo and steady production averaging over 1.5 sacks per day."
Ya KNOW most of us hang at RB or IHUB. THAT is where the information flow is....
Just so ya know......... |
