Looks like you're choking on a camel here........
THEY CLEARLY STATE AMOUNTS IN LBS OF BOTH CONCENTRATES AND ELEMENTAL MOLY AND IT APROXIMATE NET WORTH BECAUSE THEY GET PAID UPFRONT ON 90% OF THE SHIPMENT.
The other 10% is post testing (to make sure we are staying within the band of concentrate blend they prefer)
IT is they way they agreed to do business with D&R....
Q: Assuming we begin full production at our present mill capacity, how many shipments would you expect per month and what would that mean in the way of a monthly or quartly projected income?
A: Beginning in 4th quarter (assuming full mill availability and feed from the mine) Golden Phoenix has set its expected baseline at a minimum of two shipments per month, with the objective of building production from that level. The number of monthly shipments, or rate of production, is sensitive to several indices, including head grades at the mill, and these grades are expected to remain variable until Ashdown completes the initiation of full scale stope mining and an ore blending program to modulate them. Revenues generated are dependent on the moly spot price (less the roasting and brokerage fees) which is subject to significant variability, but sales figures have been in the $500-600K range per shipment during most of 2007, and these prices are
They don't roast the moly.... and therefore it is NOT a final product. This has been known for YEARS.
Once production started they stated how may lbs. of Moly they produced and how much they made per each quarter.
SPARKS, NV, May 15, 2007 - Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), manager and majority owner of the Ashdown Project LLC, a Nevada-based molybdenum mine, reports that, as of May 10, 2007, six lots of molybdenum (Mo) concentrate, totaling approximately 267,900 pounds, have been produced and sold at a combined value of nearly $3.3 million.
Each lot consists of 12 Supersacks with each Supersack containing approximately 3,950 pounds of concentrates averaging 54% elemental (Mo). Since product sales began in 2006, the Ashdown Project LLC has gross revenues of $177,000 in Q4 2006, $798,000 in Q1 2007 and $2.3 million thus far in Q2 2007, as the mine continues to ramp up toward full
production capability.
A year LATER
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.
I see NO effort to fool or mislead anyone....
I actually tracked the "misleading" data for a year and was able (with out a PR telling me abot the recovery rates) to watch the recovery rates increase as time went on. HOWEVER in this type set up the numbers always vary.... between that band of 55% and 58%.
Q: Is it true the Ashdown mill is not able to process feed with more than 1% moly in it? - W.N.
A: No. The mill has been routinely processing mill feed ranging between about 1% and 4.75%. With the recent completion of new liners and ball charge, the ball mill is fully operational and is being assessed for the optimal feed grade that delivers the maximum Mo content with the minimum Cu and other impurities.
Over the past eight months of operation, the mine has delivered varying grades of feed to the mill. This is expected to continue, as the narrow vein ore deposit fluctuates in Mo percentage between approximately 1% and 20%. One key factor to the quality of mill feed is the barren rock dilution which occurs in concert with the drifting and stoping process. At times, the miners are able to keep that dilution to a minimum and thereby keep the Mo content of the mill feed higher.
However, the miners are performing both ore extraction AND underground infrastructure work simultaneously, which can affect the grades coming to the mill. There have been, and will be, times when in the course of putting in a drift or a raise or a loadout, additional barren rock must be moved, some of which may contribute to the mill feed and therefore reduce the average Mo percentage for that period. This is a natural outcome of the simultaneous development/extraction process, which attempts to balance infrastructure and safety requirements with the daily demand for mill feed. As development work leads to more working faces, the mine plan calls for increasing control of grades coming to the mill, through stoping and blending. Optimization of the mill's ability to produce concentrates is also an ongoing process, which includes identifying the ideal feed grades to float, through a trial and monitoring process.
Q: I am confused about how the value of the moly concentrates will be determined when it is time to sell our product. Can you explain in simple terms? - R.D.
A: Molybdenum is traded on the world markets in a form of concentrate called molybdenum oxide. The price that is quoted is paid only for the elemental moly present in the oxide concentrates. This is determined by weight and assay and can vary from batch to batch. For example, if the average weekly moly oxide price is $30.00, then the producer will receive $30.00 per pound for the elemental (pure) moly contained within the oxide concentrates. This elemental moly is typically between 50% and 70% of a concentrate's gross weight, and can vary with each Supersack. In our case, we will be selling molybdenum disulfide, which is the unroasted form of the oxide concentrates. Roasting at high temperatures converts the sufides to oxides. By avoiding this step in production, we will simplify and speed up the sale of our product. In turn, the buyer has the right to deduct a roasting fee from the average weekly oxide price, as it will cost him that amount to perform the roasting later. The broker's roasting fee is subject to change in accordance with world roasting capacity and price points, and will be part of incidental costs incurred at the time of sale. To speed the sales transaction, the Company will have the option to be paid 90% of the shipment's value FOB the millworks, with the remaining 10% to be paid after final smelting.
Q: Congratulations on starting to make saleable moly concentrates. You report 52% to 57% Mo content. As you improve the milling, how much higher can this content be? - N.D.
A: Typically, Mo (or elemental molybdenum) content in commercial grade concentrate will be between 50% and 53%. Content that exceeds 55% Mo is considered top quality. Maximum Mo content generally does not exceed 58%.
"A life of mine marketing agreement was signed with Derek Raphael & Company Limited (DRC), London. This agreement will assure sale of Ashdown's molybdenum at the best available market prices. Bill Cook, DRC's North American representative, states that molybdenum processors and consumers prefer the high quality molybdenum concentrate that Ashdown is expected to
produce.
AT THE END OF THE DAY YOU HAVE TO ASK YOURSELF WHY ARE YOU HERE?????
DO YOU BELIEVE THESE GUYS WILL PULL THIS OFF OF NOT.
I BELIEVE THEY WILL..... SO I'LL BE STICKING AROUND.
IF YOU BELIEVE THEY ARE DECEPTIVE SOBS WITH TONS OF HIDDEN AGENDAS? BETTER LOAD UP THE WAGON AND GIT OTTA TOWN. |
