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I dont know if you saw todays news
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Wednesday, October 19, 2005 8:46:48 PM
I dont know if you saw todays news on FMNJ, but here it is!!
Franklin Mining, Inc. signs M.O.U for Hydro Units with Internal Hydro International for Bolivia
TAMPA, Fla., Oct 19, 2005 (PRIMEZONE via COMTEX) -- Internal Hydro Inc. (OTCBB: IHDR) has entered into a memorandum of understanding for the purchase of a 30 KW small impact hydro-generators unit with Franklin Mining, Inc. (Pink Sheets:FMNJ) and for rights for future sales in Bolivia. Future 30 Kw units for Bolivia could support hundreds in the first year orders.
"We hope that this unit will help us address our electricity requirements in Bolivia. Our operations have very limited electricity available to it due to their isolation. We currently run on diesel generators due to the shortages of Diesel this year and our operations have been limited. These new generators run off the water energy from the river and will have no energy expense to run these generators. We are very excited about the possibility of putting these units in. We hope that this will help us increase operational time, cut our energy cost and utilize the diesel for our earth moving machines," said Jaime Melgarejo, Jr., President of Franklin Mining.
"The exclusive rights for Bolivia is very interesting for us also. We feel that there would be a great demand and we can market these units under Franklin Oil & Gas for the production of electricity for river based villages throughout Bolivia. Funding for providing electricity to rural areas should be available though World Bank Programs. This would enable us to create cash flow and would allow us to diversify our portfolio for the company," continued Melgarejo.
IHDR will supply to Franklin one of the first short-term production units for fielding in its operations under the purchase agreement. With a population of over 9 million persons, and a hydroelectric generation potential second only to Argentina in South America, both companies foresee the large-scale use of such electric generation units from IHDR.
Bolivia is believed to have 2nd largest hydro capacity in South America. Bolivia has the raw Terra Watt hour ability of 178 Tw/hours and an economically viable amount of 50 Tw/hours on an annual basis. Bolivia is a net exporter of energy from its capacity for energy production to surrounding companies.
About IHDR: IHDR is an alternative energy company based in Tampa, Florida. IHDR is currently readying units of its core technology of low impact/small hydroelectric generation units for market delivery under contracts both domestically and globally. See the website at www.internalhydro.com.
About Franklin Mining, Inc.:
Franklin Mining, Inc. had a complete change of Management and Board of Directors in 2003. Since then Franklin Mining has expanded to Colombia and Bolivia as well as to start operations for Gold mining in Bolivia in 2004. Franklin Oil & Gas was formed in 2004 as a division of Franklin Mining, Inc.
Website is www.franklinmining.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: Internal Hydro International, Inc.
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