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Gold/Mining/Energy : The Molybdenum Discussion Board

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To: hubris33 who wrote (3207)	8/2/2008 2:03:36 PM
From: geoffrey Wren	Read Replies (1) of 3267

To consider the bear perspective for golden phoenix: this company has a very large accumulated deficit. Shows management's historical record. Nothing is there yet to show Mineral Ridge can be mined profitably. Even now while they mine this high grade moly vein at Ashdown they are losing money. By the end of the year they will be making some money. But they cannot count on that incredibly rich vein lasting long. It's an aberration. At some point it will change to just high grade ore, and I doubt they could profitably mine a seam of ore at, say, 1% moly (which is a very good grade of ore) in the way they are mining the moly now. Like so many of these mining companies, they always suggest they may have a proven bonanza once they do the core samples. They are optimistic. They put out nice promotional material. For now outstanding shares are growing, warrants are added, litigation expenses continue, prior management is getting paid off in monthly payments, etc. Golden PHoenix is still on my watch list though. The moly angle that looks best to me now is Thompson Creek, maybe Mosquito. Still have not purchased anything. GW

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