Near-Term Production Potential
Golden Phoenix is planning to target projects with near-term production potential throughout North, South and Central America. We anticipate analyzing up to 50 prospective properties, with a view towards optioning up to 10 of those properties on terms and conditions acceptable to the Company. From these optioned properties, the Company hopes to identify up to 5 projects that can be advanced toward commercial production.
The Sum of Five Such Projects
By retaining up to a 30% interest, we believe the sum of five such projects has the potential to add up to more than one project, without the risk of investing in just a single mining project.
When we acquire a property, our next goal is to begin the process of adding value to that project in the form of permitting, bonding, drilling, geological, financial and /or legal support. When we have added sufficient value to a property, our plan is to seek out an experienced mine operator in that particular region of the Americas. We will choose someone we believe is best equipped to advance that project toward commercial production.
Our philosophy going forward is to improve properties and find the right partner for them. If we acquire a property, we intend to add value to it. After some initial work, if a project turns out not to meet our expectations, we will maximize the value we can generate for that particular property and move on to the next project. Our commitment is to the advancement of each project we undertake.