Golden Phoenix's Ashdown Project Completes Third Sale of Molybdenum Concentrates; Mine Ramp-Up Continues
2007-02-22 05:00 ET - News Release
SPARKS, Nev., Feb. 22 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. is pleased to announce the sale of the third consignment of molybdenite concentrates produced by the Ashdown Project LLC, located in Humboldt County, Nevada.
A sale of 12 Supersacks of moly concentrate has been made to Derek Raphael & Company of London, England. The consignment weighed more than 47,000 pounds and contained over 25,000 pounds of elemental molybdenum. Provisional invoice value of the shipment is in excess of $470,000 with a final value to be determined following delivery and processing of the material. Cumulative moly sales to date total approximately $972,000.
This sale marks the first time an entire shipment was produced in one continuous weeklong milling campaign that finished on February 20th. Apart from minor mechanical interruptions, the mill crew was able to operate on a 24-hour basis. Rate of production increased approximately 50% from the January 2007 average of 1,341 pounds of molybdenite per day, to a projected average of 2022 pounds per day during February. The mill is scheduled to resume production next week.
In the Ashdown mine, development crews continue to drive a second raise to increase access to the high-grade mineralization of the Sylvia vein. Once the development work is completed, crews will be able to mine in two directions. At the same time, mining crews have been removing mineralized material along the southern section of the sill drift. Additional development includes extension of the ventilation ducting, completion of a second refuge chamber, start of construction of a truck scale to weigh mine output, and installation of a screening plant to process sand fill used to stabilize the mine workings.
In the past two weeks, the mining staff has been increased 50% to a total of 18 miners, and the mill staff has added two workers. In face of a tight employment market, a recruiting specialist has been hired to implement an aggressive recruitment program seeking experienced miners throughout the western states. The work schedule has been adjusted to seven-days-on seven-days-off in order to attract out-of-area workers, and housing is being developed to handle the growing staff.
Golden Phoenix Minerals, Inc. is a Nevada-based mining company committed to deliver value to its shareholders by acquiring, developing and mining superior precious and strategic metal deposits in North America using competitive business practices balanced by principles of ethical stewardship. Golden Phoenix owns the Mineral Ridge gold and silver property near Silver Peak, Nevada, the Northern Champion molybdenum mine in Ontario, Canada, and is manager/operator and majority owner of the Ashdown Project LLC gold and molybdenum property held jointly by Golden Phoenix Minerals, Inc. and Win-Eldrich Mines, Ltd. of Toronto, Canada through its US subsidiary, Win-Eldrich Gold, Inc.
Visit the Golden Phoenix Web site at http://www.Golden-Phoenix.com/
Forward-Looking Statements. Certain statements included herein may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These risks and uncertainties, and certain other related factors, are discussed in the Company's Form 10-KSB, Form 10-QSB and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of this date and the Company assumes no obligation to update such forward-looking statements as a result of a number of factors.
CONTACT:
Golden Phoenix Minerals, Inc.
Robert Martin
President
775/853-4919
E & E Communications
Paul Knopick
949/707-5365
pknopick@eandecommunications.com
Golden Phoenix Minerals, Inc.
CONTACT: Robert Martin, President of Golden Phoenix Minerals, Inc.,
+1-775-853-4919; or Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Golden Phoenix Minerals, Inc.
Web site: http://www.golden-phoenix.com/
Unser PHOENIX produziert fleißig und kaum einer merkt es, ungepusht und weiterhin ohne BB-Empfehlungen wird es hier in den nächste Monaten bergauf gehen...
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weiterhin allen Anlegern viel Erfolg, Gruß JoJo
