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

To: jrzy who wrote (615)	5/17/2008 11:26:43 AM
From: hubris33	Respond to of 811

The entire Quarterly Report can be found here: sec.gov Looks like they are back to negative working capital and an insolvency position although only slightly for both. Another reason for not focusing on P & L is that it is widened loss from 1Q2007. Looks like G&A doubled and mining costs nearly did. Looks like GPXM needs to get a handle on these two though the Cash Flow statement made a $1.2MM swing from negative to slightly positive (+$167,785). Expansion requires equipment, so note this from the 10Q: In the next 12 months, we anticipate purchasing or leasing additional capital equipment for the Ashdown and Mineral Ridge mines, which would be support equipment for the underground operation and surface process facilities. These items include underground hauling machines and muckers and various surface equipment including front-end loaders, forklifts, drilling equipment and small haul trucks. Depending on whether we purchase new or used equipment, these capital equipment items could cost between $200,000 and $500,000 per unit. We anticipate funding these capital equipment expenditures with funds we receive from any molybdenum, gold and silver production revenues we may generate or from debt and equity financing. All purchases at the Ashdown mine will be borne in proportion to our equity percentage as operator in that project. H3