Several trades at .515 this morning.  On 3-9-07 it closed at .29.

popeye ,
YOU LIKE THIS COMPANY ????

Eugi, I have held stock in GPXM since the .12 level and plan to stay for at least 18 more months.  The surging molybdenum prices are just what this company  needs for price appreciation.  The company has the richest molybdenum deposit in the world and they are just getting started.  

Wow !  thanks popeye ,
I really appreciate that and will look at it for sure,
because that are really stocks I look for, thanks again

Golden Phoenix Reduces Liabilities and Retires Over $520,000 in Debt

SPARKS, Nev., June 28, 2007 /PRNewswire-FirstCall via COMTEX/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM), is pleased to announce that it has successfully exercised its option to reduce its Schnack Note through investment by an institutional ally. The transaction eliminates approximately $521,000 in debt and reclassifies approximately $1,974,000 from notes payable to deferred revenue within current liabilities on the Company's balance sheet, in the form of a Net Smelter Return (NSR).

This transaction follows the replacement of the original Schnack Note with an Advance Sales Restructuring Agreement executed May 10, 2007. The Agreement allowed the Company to convert its liability on the original Note to a 5% NSR, and to reduce the Note's original face value by $700,000, provided payment was completed by the end of August. The agreement also allowed the Company to assign its option to a third party to accomplish this buy down. The Company has completed this transaction with an institutional investor.

David Caldwell, CEO of Golden Phoenix, explained, "Bill Schnack, the original lender, stepped forward to finance construction of the Ashdown mine early in our restructuring process. We thank him for his faith in us and welcome the strong institutional backing that replaces him. Since the start of the restructuring campaign over two years ago, the Company has significantly and methodically reduced its current liabilities. This latest transaction allows us to manage our cash flow more effectively. The result is both a reduction in net liabilities and the controlled retirement of the balance, helping to preserve cash flow for future growth."

Please visit the Golden Phoenix website at http://www.Golden-Phoenix.com/

This is the best balance sheet and income statement that this company has ever had.

GOLDEN PHOENIX MINERALS, INC.
Condensed Consolidated Balance Sheet
June 30, 2007
(Unaudited)

ASSETS
     
Current assets:
                   
Cash and cash equivalents
            $      
5,863,261
     
Receivables
                   
1,090,456
     
Prepaid expenses and other current assets
                   
265,721
     
Materials and supplies inventory
                   
69,112
     
Marketable securities
                   
241,267
     
Total current assets
                   
7,529,817
     
                            
Property and equipment, net
                   
1,352,203
     
                            
Other assets:
                          
Restricted funds – reclamation obligations
                   
2,184,511
     
Prepaid bond insurance premiums
                   
277,276
     
Deposits
                   
60,991
     
Total other assets
                   
2,522,778
     
                            
              $      
11,404,798
     
                            
LIABILITIES AND STOCKHOLDERS’ EQUITY
     
Current liabilities:
                          
Accounts payable
            $      
581,391
     
Accrued liabilities
                   
545,326
     
Current portion of severance obligations
                   
277,962
     
Current portion of long-term debt
                   
320,392
     
Production payment obligation – related party
                   
663,093
     
Production payment obligation
                   
1,974,456
     
Amounts due to related parties
                   
612,764
     
Total current liabilities
                   
4,975,384
     
                            
Long-term liabilities:
                          
Reclamation obligations
                   
3,089,570
     
Severance obligations
                   
206,663
     
Long-term debt
                   
132,827
     
Total long-term liabilities
                   
3,429,060
     
                            
Total liabilities
                   
8,404,444
     
                            
Commitments and contingencies
                          
                            
Minority Interest
                   
679,514
     
                            
Stockholders’ equity:
                          
Common stock; no par value, 200,000,000 shares authorized, 180,390,972 shares issued and outstanding
                   
37,634,251
     
Other comprehensive income
                   
79,226
     
Accumulated deficit
                   (35,392,637      )
Total stockholders’ equity
                   
2,320,840
     
                            
              $      
11,404,798
     

See accompanying notes to condensed consolidated financial statements


3

GOLDEN PHOENIX MINERALS, INC.
Condensed Consolidated Statements of Operations
(Unaudited)

              
Three Months Ended June 30,
     
              
2007
                   
2006
     
                                          
Sales
            $      
4,466,470
                   $      
—
     
                                                        
Operating costs and expenses:
                                                      
Costs of mining operations
                   
2,008,578
                          
126,230
     
Exploration, development and mineral property lease expenses
                   
28,540
                          
1,617,969
     
Accretion expense
                   
46,826
                          
38,498
     
General and administrative expenses
                   
934,660
                          
370,843
     
Depreciation and amortization expense
                   
53,815
                          
28,477
     
                                                        
Total operating costs and expenses
                   
3,072,419
                          
2,182,017
     
                                                        
Income (loss) from operations
                   
1,394,051
                          (2,182,017      )
                                                        
Other income (expense):
                                                      
Interest income
                   
36,381
                          
1,434
     
Interest expense
                   (64,566      )                    (202,615      )
Gain on extinguishment of debt
                   
537,309
                          
1,593,803
     
Gain (loss) on disposal of property and equipment
                   
29,397
                          (17,233      )
                                                        
Total other income (expense)
                   
538,521
                          
1,375,389
     
                                                        
Income (loss) before minority interest and income taxes
                   
1,932,572
                          (806,628      )
                                                        
Minority interest in net income of consolidated joint venture
                   (873,884      )                    
—
     
                                                        
Income (loss) before income taxes
                   
1,058,688
                          (806,628      )
                                                        
Provision for income taxes
                   
—
                          
—
     
                                                        
Net income (loss)
            $      
1,058,688
                   $      (806,628      )

Popeye, SP just recently touched 52-week low. I had a temptation to add more at these levels. ...And what about the additional shares that are to be put into the market?
FTS

Sapper, that is my only concern with this company, the O/S.  If GPXM becomes a major producer it will not make much difference.  Many majors have several times the O/S that GPXM has.  Now we need to wait and see if they become a major producer.  

Sapper, the concentration is on the molybdenum production at the present time but they still have minimized ongoing work at the Mineral Ridge mine where their gold interests are.  Also, the Lone Mountain Mill can be started up when the silver prices are attractive enough to make it worth while.  Golden Phoenix has a chance of becoming a major producer depending  on the future prices on gold, silver and molybdenum.

Thanx Popeye, .. I took a small position anyway (but down again ). Hope management will ride the coy in the right direction....
FTS

Sapper, I don't know what investor's are thinking.  This is one of the best turnarounds that I have ever seen and the stock is down.  I'm in for the long run so it does not bother me but what's happening does not make sense.

On 3-31-07 GPXM owed over twice as much as the entire company was worth. Now the company has a current ratio of 1.51 which is very good and a debt to equity ratio of .737 which is not good but is tremendously better than the negative net worth just three months earlier.

Golden Phoenix Posts Its First Profit; Net Income Tops $1 Million in Second Quarter

SPARKS, Nev., Aug. 27 /PRNewswire-FirstCall/ -- Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News), is pleased to announce posting of its first profit since its formation in 1997, with net income reported in the quarter ended June 30, 2007 of $1,058,688 or $0.01 per share. Net income resulted from the production and sale of molybdenum concentrates, totaling $4,466,470, at its majority-owned Ashdown mine plus a gain on extinguishment of debt related to restructuring of a preexisting obligation....

FTS

Posted by Birdwatcher:

MINE VISIT-
Sorry to take so long to post this but here is what I learned on my visit to Ashdown and the GPXM office...

I recently returned from a trip to Nevada to visit the Golden Phoenix Minerals corporate office as well as the Ashdown property. This visit proved to be very interesting and I left feeling very encouraged about the current condition of the company as well as its future potential. I began by stopping by the corporate office in Sparks, Nevada where I was able to talk to several people who were working there. I really felt a sense of optimism and a positive attitude around the office as well as in the people I talked to.
I was able to talk to one of the geologists and also a geochemist who work for GPXM and was very impressed with both of their knowledge of the mining industry and the properties held by GPXM. They were both very excited about the potential for Ashdown as well as Mineral Ridge and expect to develop both of these into very profitable and efficient mines. What they told me is that the potential for Ashdown is huge as most of the property remains unexplored and most of the exploration done in the past was only for gold so there is much to be learned about the moly deposit. So far, what they have found in the small area where mining activities are presently focused is just a small piece of the property and this deposit is most likely much larger than what we know right now. They explained that a deposit containing this high of grade is not normally isolated and is most likely a part of a larger system which could massive. More of the gaps in their information will be explained by further drilling on the property, specifically focused on moly. This is planned for the future but it takes time to get good drilling equipment and crews.
The company also feels there is great value in Mineral Ridge and it sounds like this will be their next focus for development into a producing property. This property already has a proved resource of 200,000 ounces of gold and most of this property is also unexplored so it can, and will, be drilled in the future. I believe they understand very well the mistakes of past operators with this property and should have no problem putting MR into profitable production on a fairly good sized scale. Mineral Ridge has several deposits which can be mined by open pit, underground or a combination of the two. This is all being looked at right now to determine the best plan.
Several hours later I left the office and drove to Winnemucca in order to be closer to the mine for my visit the next day. I was amazed at the time I was able to spend talking to people at the company and their excellent attitude toward me as a shareholder. I can assure you that shareholders have not been forgotten by this company.
The next morning I drove the Ashdown mine and mill where I was met by the mill manager. The first thing I did was take a look at the tailings pond by climbing up the ore stockpile in order to get a better view. This pile was very good sized and I was able to pull a few small samples of very high grade moly from this pile, and trust me there was no shortage of good high grade moly ore sitting around. Next I was given a tour of the mill equipment and the process that was used to extract the moly from the rock was explained to me as we walked along. This was extremely interesting and there was actually moly being milled and bagged on the day I was there, which was part of the reprocessing of the tailings that was being done while ore was being stockpiled. Everything seemed to be working very well and I believe they are getting pretty good at recovering moly. I was also able to meet Don Prahl who was kind enough to come over and meet with me. He was very enthusiastic about how the Ashdown project was coming together and the great future potential of this property.
Next I drove up to the mine where I got to meet with Craig Patrick who talked to me about the amazing quality of the deposit at Ashdown as well as the great potential he and others had to build a great company at GPXM. He felt very strongly about the quality of the properties owned by Golden Phoenix and with the vast amount of experience he has in the mining industry he has seen a lot. Craig’s knowledge of mining and mining properties was amazing and he seemed to be very excited to be working for Golden Phoenix because of the great opportunity to build up a company. Unfortunately I was not able to go underground into the mine as they were busy that day. It was explained to me that daily production from the mine had increased significantly over the past few weeks and production should continue to increase in the future and full production should be achieved no problem. Things should really start moving faster this fall as most of the bugs have been worked out of the mining and milling process and more systematic processes are being put into place which will help to create a smooth and very profitable operation.
As I left I was amazed at what has been accomplished thus far at Ashdown and how bright the future really is for Golden Phoenix. They have the right people and the right properties at the right time in the commodities cycle to really do great things over the next few years. I am so glad I took the time to visit the property and I am really excited about what is in store for shareholders in the future. For anyone who has been thinking about making a trip to see Ashdown for their self I would highly recommend it. When I returned home the price of the stock was getting killed but instead of being worried I just shook my head at the stupidity of the market. This company has not yet been taken seriously but soon it will be impossible to ignore the change that has gone on and will continue to go on. It really put my mind at ease that I had put my money in a quality company that will do very well in the future. So, for anyone attending the shareholders meeting and touring the Ashdown property you are in for a treat. There is nothing like going and seeing what you have your money in and getting that gut feel about what is there. For me it was very good and I am truly excited about this company and where it is headed.

Great report, Thanx Popeye. Makes me feel much better about my investment in GP.
FTS