Northern Nevada News

Thursday, January 4, 2007

 

 

Golden Phoenix's Ashdown Project Completes Molybdenum Sales

 

Golden Phoenix Minerals, Inc. is pleased to announce sale of the first consignment of molybdenite concentrates produced at the Ashdown mine and mill. A sale of more than 14,000 pounds of concentrates, containing over 8,000 pounds of elemental molybdenum, has been made to Derek Raphael and Company, London, England, for approximately $175,000 and has been posted in the Company's 2006 financial results. In accordance with the purchase agreement, 90% of the funds were paid to the Ashdown Project LLC via wire transfer on December 29, with the balance to be paid when all final weights, assays and prices are known. The sale confirms Ashdown as the world's newest molybdenum mine to reach production stage, and launches the next phase of development during which output from the mine and throughput at the mill can be scaled up. As part of that effort, underground crews are driving drift on a second series of raises and working faces to increase the current 30-ton per day average mine output to an optimal rate of 100 tons per day. As mine output rises over the coming months, mill efficiency is expected to be enhanced to keep pace with the mine. Periodic sales of concentrate are projected to occur during the ramp-up period, with income flowing to the LLC. The mill was closed for the Holidays and has resumed production following installation of an upgraded hydro cyclone unit and gear drive for the belt feeder.

 

E-Mail Scam Warning

 

The Winnemucca Police Department wanted to make local residents aware of an e-mail scam which is widely circulating in our area. In this scam, the recipient of the e-mail receives a very authentic looking e-mail from an established local banking institution. The e-mail describes how the recipient has problems with their account and requests that the recipient follow an on screen link to resolve the matter. Failure to do so will result in the recipient having their account frozen until further notice. This is an information "phishing" scam. Following the link and entering any personal information places your private information into the hands of criminals. Do not participate in this e-mail. Instead, delete this e-mail and contact your financial institution. For further information or to report a crime please contact the Winnemucca Police Department at 623-6396

 

Gold Canyon Announces Closing of First Tranche

 

Gold Canyon Resources Inc. is pleased to announce it has closed the first tranche of its non-brokered private placement originally announced on December 28. Today's closing included 1,340,000 common share units at US$0.26 per Unit for gross proceeds of US$348,400. Each Unit consists of one common share in the capital of the Company and one non-transferable common share purchase warrant, each whole warrant entitling the holder to acquire one additional common share at a price of US$0.39 per share until January 2, 2009. All securities will be subject to a four month hold period expiring on May 3 in accordance with applicable Canadian securities law and the policies of the TSX Venture Exchange.

 

KWNA Community Events

 

Great Basin College will present a lecture entitled "Methamphetamine Endangered Children: Developing a Collaborative Community Approach to the Problem" on Friday, January 19 from 11 a.m. -12:30 in the Dorothy S. Gallagher Health Sciences Building room 107. The lecture will be presented by Dr. P. J. Bruno, Director of the Child Advocacy Center associated with Geisgner Hospital in Danville, Pennsylvania. Prior to his current position, Dr. Bruno owned a private pediatric practice specializing in pediatric medicine and child advocacy. Dr. Bruno’s current research projects include studying methamphetamine endangered children and pediatric dental hygiene. Pat Warren, Director of Continuing Education at GBC recommends nurses, physicians, law enforcement officers, social workers, teachers, counselors and youth services professionals will benefit from attending this very informative presentation. Admission to the lecture is free.

The American Red Cross, Winnemucca Service Center would like to remind the community of the following meetings and classes: On January 10th, All youth aged 7 years through 8th grade are invited to attend the American Red Cross, Jr. Youth meeting beginning at 3pm in the French Ford Middle School. All Red Cross Youth are invited to attend. On January 11th, All High School age youth are invited to attend the American Red Cross Leadership Meeting at 1145AM in the Lowry High School in Mrs. Mercado’s room. All Red Cross Youth are invited to attend. There is no cost to be a Red Cross Youth.

 

Winnemucca Weather

A Record High Temperature for Winnemucca yesterday of 57 degrees. That ties the old record of 57 in 2003.

Your Winnemucca Weather today calls for snow with a total accumulation of 2 to 5 inches, north winds at 15 to 25 mph and highs between 40 and 50.