Golden Phoenix Minerals

Golden Phoenix Minerals is a mining company publicly traded on the Over-the-Counter Bulletin Board market under the symbol GPXM.OB. The company is based in Sparks, Nevada, and presently all of its mining properties are located within mine-friendly Nevada and Ontario, Canada.  Its Ashdown Project LLC, a new molybdenum mine, is in production in Nevada.

Notice of Annual Meeting of Shareholders September 8, 2008 in Las Vegas   (url)

Mineral Ridge Gold Mine Tour

September 6, 2008 in Tonopah

Contact Sara Warren at 775-853-4919 to register

Upgraded Ashdown maintenance facility

Exploratory drilling at Mineral Ridge

Golden Phoenix was formed in 1997 to capitalize on the decline in precious metals prices and resulting availability of undervalued mining properties. This proved to be an effective strategy. The Company was able to acquire (through purchase and joint venture) four mining properties at favorable terms, just prior to the revitalization of the gold and silver markets. Two of these properties, Ashdown Mine (located in the banner photo at the top of this page) and Mineral Ridge Mine (in photos to the right), now form the backbone of the Company going forward.

Golden Phoenix seeks properties that have proven records of past performance requiring special attention and scaled redevelopment. The Company maintains a lean and efficient profile as it goes about the job of bringing its properties on line. In the summer of 2003, Mineral Ridge began gold and silver production. TIn December of 2006, Ashdown commenced sales of molybdenum concentrates. By evolving from acquisition through exploration to production, Golden Phoenix stands at the threshold of its future with a strong asset base and a seasoned team of professionals.

Transforming the Company

2005 witnessed the start of a fundamental transformation within the Company. New leadership arrived to guide that transformation. The Board of Directors was streamlined, an Interim Governing Board (the IGB) was formed, and a new Interim CEO was named.

These changes were initiated in order to recast Golden Phoenix as a responsive, nimble and aggressive public entity. In facing up to its responsibilities, Golden Phoenix is now dedicated to these core principals: Building wealth for our shareholders, asset-strength for our company, and security for our employees.

Near Term Goals, Long Term Vision

In response to the sudden rise in the price of molybdenum over the past year (from $3-to-$40 per pound) Company resources have been redirected toward the near-term development of a targeted moly deposit at Ashdown known as the Sylvia vein. This mineralized material was previously drilled and bulk-sampled to reveal exceptionally high concentrations of molybdenum disulfide within a well-defined mineral shoot, allowing for its rapid development. Golden Phoenix is now mining and milling the Sylvia deposit through its partnership company, Ashdown Project LLC.

Concurrently, the Company has initiated cost-cutting measures at its Mineral Ridge heap leach operation.  After operating its gold recovery circuit through the summer, the heap leach has been idled while studies continue to determine the most effective approach to capitalize on the gold mineralization at the mine.

Management's near term goal is to extract the known moly deposits at Ashdown while continuing to redevelop a plan for profitable production of gold and silver at Mineral Ridge. Proceeds from future moly sales will be used to fund exploration and expansion of Ashdown's moly mineralization, examine its gold potential, and implement a plan of action for Mineral Ridge, as well as its Northern Champion moly property in Ontario, Canada, acquired in 2006.

These objectives are in line with the Company's long-term vision to acquire unique properties at favorable terms, and bring them into profitable production through creative mining management.

Mike checks completed conditioner tankage

Jeff adjusts float cells at Ashdown Mill

First load of Ashdown moly hits the crusher!

Bulk sampling begins (pdf)

High-volume blower installed at Ashdown (more)

First moly sample from Ashdown's North Zone!

Rock assay grades 5.35% moly from Ashdown North Zone as new sample arrives for testing

New Spyder Crane in action

Moly Oxide (USD per lb) $34.00