The Long and Winding Road

Robert Martin

Director of Corporate Development

The shortest distance between two points is a straight line. But few of us have the luxury to go through life that way. More often, our journey becomes a long and winding road, filled with ups and downs, twists and turns. As a dear friend used to say, “Adventure is simply misfortune taken advantage of.” Does that ring any bells?

And so it is with Golden Phoenix, a company that refuses to surrender. Over the adventure-filled course of its life, GPXM has traveled a long and winding road. What began in the depths of a 20-year gold recession eight years ago has come full-circle, back to a brand new beginning. I resist the urge to describe this new start as “rising from the ashes,” for although our namesake is the legendary Phoenix (the mythical bird said to die and be reborn in fire), this Golden Bird is not about to go up in flames. For during those contentious eight years, precious assets were acquired together with the talent and know-how to put them to work. We are not the same company we were back in 1997, or 2000, or 2004. We are stronger, wiser and better equipped to make our way.

That is not to say our past should be prologue to our future. On the contrary, it is high time for this bird to soar. The loyal shareholders who have stood by patiently (and sometimes not-so-patiently) deserve this and more.

So it is with humility and determination that I joined the Golden Phoenix team with one goal in mind: Success. We at Golden Phoenix define success as building wealth for our shareholders, asset-strength for our Company and security for our employees. To do so, we intend to take what is right and make it better, repair what is wrong, attract the best talent, bring in fresh capital, and then focus all of it like a laser beam on the task at hand. Success doesn’t just happen, we make it happen.

This compact company is sitting astride two unique properties named Ashdown and Mineral Ridge. Gold, silver and molybdenum are locked inside, awaiting our ability to free them. It takes hardheaded effort to do so, including the work of our fine miners and geologists. But it also takes business acumen, investment courage and shareholder loyalty to see it through.

What you are witness to is the timeless process of renewal. In the case of Golden Phoenix, this renewal is being carefully and methodically crafted from manifold parts and pieces. The process is not linear, nor can it be easily charted or graphed. To the casual observer it may sometimes appear disjointed, since actions taken at one point may not be fully understood or appreciated until some time later.

This reality is most readily apparent in the permit process. All mining companies in America are now subject to a populist legislative juggernaut that, over the preceding 50 years, created a layer-cake of regulations and agencies on the local, state and federal levels. The intention was to keep our land and water pristine. But oftentimes, these laws and agencies were not fully integrated with each other, leaving the task of coordination to the mining companies, themselves. On top of that, the specialists within the agencies often possess a degree of latitude in interpreting the regulations, and rightly so. What results is an indeterminate number of permutations whereby a patch of mineralized material is allowed to become a functioning mine.

So the pathway to building a mine can be a long and winding road. Sound familiar? It’s a lot like life. It is the price we pay to ensure that our environment is preserved, which is a most-worthy cause. For this reason, the ability to forecast timeframes, which is a standard business tool, is no longer relevant. In its place, our society has elected to set the hurdles to entry into the mining business extremely high, for the good of the society as a whole.

Fortunately, the rewards can be commensurate. For Nevada remains one of the most mining-friendly places on earth, and the cooperation extended by agency professionals has been impressive.  Our staff continually works with the regulators to define legitimate ways to advance the process and expedite the outcome.  So it is the patient and wise individual who will judge our permitting progress accordingly.

For those with the heart, I say welcome. Our job at Golden Phoenix is to make that long and winding road as short and straight as possible. Your challenge is to exercise the poise and patience to see the journey through. Along the way, you can always call or write me for directions. I will be happy to oblige.

In closing, I want to share one of my favorite photos with you, taken by Earl.  It shows Jack and Terry hard at work on the Sylvia Portal.  The light you see at the end of the tunnel says it all:  A bright future for those with the stamina to see it through.

Wishing us all a safe passage,

Robert Martin
Director of Corporate Development
775-853-4919
investor@golden-phoenix.com

For more information about the permitting process, visit the discussion here.