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

To: Robert J Mullenbach who wrote (228)	10/11/2001 5:23:40 AM
From: Robert J Mullenbach	Read Replies (1) \| Respond to of 811

Would be nice if 280 held on Gold price, Still a great gamble if you are into this Gold bug stuff. Their web site has been updated, I like the testing for Gold Flacks ( Flakes) ? XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX October 9, 2001 We have several very good leads on our Mineral Ridge reclamation bond and feel confident that we will have it posted by the end of this quarter. We continue to upgrade our facilities at the mine and will have the operation ready to go when the agencies are happy. We published a press release today, which reported the revenues from our various endeavors. Most of the revenues have come from the Mineral Ridge Mine, but some of have come from sales of decorative rock from our Contact project. We signed a contract with a person that hauls these very large granite boulders out for sale in the big cities. We get a small royalty in return. Mike completed a metallurgical study today at the mine with Gene McClelland of McClelland Labs. They took several samples from the leach pad and washed them through the Knelson Bowl to collect heavy concentrates. They found some small flacks of gold in the concentrate. Assay results should be completed in about 5 days. XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX the-privateer.com

To: Robert J Mullenbach who wrote (228)	10/11/2001 2:27:04 PM
From: baystock	Read Replies (1) \| Respond to of 811

<as far as IMO, This is Super News Today> You are real easy to please. It sounded like fluff to me with nothing new in the release. IMO all it said was that when they complete negotiations on lowering the reclamation bond and raising financing there will be a "significant" increase in revenue from the current low base. What the hell does "significant" revenues mean. I am long this stock, but the poor financials worry me. If I am not mistaken they have a negative working capital in the $2 million range.