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Gold/Mining/Energy : GOLDEN PHOENIX MINERALS, GPXM -- Ignore unavailable to you. Want to Upgrade?

To: Vince Moretto who wrote (209)	5/21/2001 5:48:53 PM
From: KipferlMeister	Read Replies (1) \| Respond to of 811

Days like today remind us why we submit to the torture of this sector to begin with.

To: Vince Moretto who wrote (209)	5/21/2001 5:57:06 PM
From: Robert J Mullenbach	Read Replies (2) \| Respond to of 811

I think maybe they found some funding, with this volume . They should be in production in June, so that sure is not going to hurt. Nice to see a day like this, nice come back to .21 on ASK.. maybe some of the warrants @.13 or PP @.10 were turned into cash, if not now, they probably will in future, if GPXM can stay up here. biz.yahoo.com XXXXXXXXXXXXXXXXXXXXXXXXX On October 25, 2000, J. D. Welsh assigned it's 32% interest in Borealis to Newmex Nevada, Inc. In October 2000 Golden Phoenix Minerals, Inc. acquired from Newmex Nevada, Inc. it's 32% interest in the Borealis project for 3,000,000 shares of Golden Phoenix Minerals, Inc. common stock, and 3,000,000 of two year warrants to purchase one additional share at a strike price of $0.13 per share. The shares are restricted under SEC Rule 144. XXXXXXXXXXXXXXXXXXX INVESTING AND FINANCING ACTIVITIES The Company is investigating potential financing sources and is in discussions with potential joint venture partners. In 1999 the Company negotiated a stock option agreement wherein it has been receiving $20,000 per month in cash, enough to meet its basic operating needs. The party holding this option agreement has fallen short of the purchase agreement by $95,000. The Company is currently offering a Private Placement under Rule 144 to raise $500,000. The offering consists of units priced at $0.10 for one restricted common share and a two year warrant to purchase one restricted common share for $0.10, with a minimum investment of $10,000. No assurance can be given that the Company will obtain all of the financing required to maintain its property positions.