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Golden Phoenix Minerals Inc GPXM

Golden Phoenix Minerals, Inc. is a mining and exploration company. The Company's business includes acquiring mineral properties with production through exploration discoveries. The Company has property holdings in the Silver Peak Mining District near Tonopah, Nevada. The Company is focused on its mining properties in Nevada. The Company has entered into an agreement to acquire an interest in the Mhakari Properties, which include the Vanderbilt Silver and Gold Project, the Coyote Fault Gold and Silver Project and Galena Flat Gold Project, and claims that are an extension to the Coyote Fault property, all located adjacent to the producing Mineral Ridge property near Silver Peak, Nevada. As of September 30, 2015, the Company had the rights to 16 unpatented lode mining claims in three claim blocks consisted of 320 acres on Bureau of Land Management (BLM) lands in Esmeralda County, Nevada, located near the operating Mineral Ridge gold project (the North Springs Properties).


GREY:GPXM - Post by User

Post by Rocks123on Jun 04, 2012 11:08pm
575 Views
Post# 19979760

Looks like its over for GPXM

Looks like its over for GPXM

The latest filings ......

 

If we are unable to raise sufficient capital to pay our obligations, or the Company and its joint venture partners are unable to successfully complete the development of current mineral projects and obtain profitable operations and positive operating cash flows, we may be forced to scale back our mineral property acquisition and development plans or to significantly reduce or terminate operations and file for reorganization or liquidation under the bankruptcy laws.  These factors together raise doubt about the Company’s ability to continue as a going concern.  The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

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