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Indeed the assay is the key to judge the value of the Escala ore for the company and its shareholders. As the company starts to process the hard rock, Petty promises to advise as to the mineral content which now seems to have been expanded to include gold and copper as well as silver. I will also be interested in seeing what the cost of production and processing is so a estimate of the profits , if any, can made. Petty indicates that if the ore is profitable the company will look to outside investors to finance its own processing plant thus reducing processingf costs. Your relentless countdown to the commencement of actual mining by the company has mercifully ended. If this company makes $$$, the stock should a winner IMHO. HI HO is not a greeting.
Thanks for the info. I just received an email from austin with a press r4elease that is scheduled to come out tomorrow Feb 12 at 830 am est. Franklin prepares to expand the scope of escala mine , mining operations to include copper.... I guess this is a ok heads up since it was emailed agter the close of trading today. Also the company states that two more letters are planned for this month the first of which could be released on Wednesday Feb 13. Maybe Petty is ready to give shareholders some estimates of the mines mineral content.
And with Shilling on the shelf, you sure could have used Santana. Maybe you will see him in the world series pitching against the sox for the mets. As for the memorandum issued, the important info, regarding the value of the mined and cleared hard rock, apparently will not be available until the actual processing occurs. Petty fails to mention the assay undertaken by the company using an independent company. Can anyone do the math and advise how much silver and gold would be yieled if the old numbers of 1 kg per ton silver and 2 gr per ton of gold was extrapolated in the approx. 300 tons of hard rock inventory? The metric system is total Greek to me.
I agree. He is obviou8sly not part of the intelligensia in Bolivia based upon his lack of mastery of anything approaching as command of the English language. I'm taking a wait and see attitude as to whether Petty can make it happen. Obviously the company is having problems with the new website. Hope the letter weill clear up a lot of questions when it is posted.
Wait a minute Mr. Postman...Deliver da letter, the soona da betta. I hear the rain is messing up the website. Oh the humanity. Doesn't it look like the farsite wheels of the cart is not on the track?
What we need is an answer to the question posed by Tennessee Ernie Ford in song :You load 16 tons and what so you get? Hope the answer is not in his following line: another day older and deeper in debt. Maybe that should be the company song used by the miners as they dig the rock. .. HI, HOOOOO.
Todays news that company will soon be in full production mode indicates that the assay must show good ore content.It is disappointing that the letter is still not on the website; hopefully it will give SHs a sense of what kind of cash flow the company hopes to achieve. If Escala 2 and 3 are not yet in production maybe comibol would liscense it to Franklin bvade upon the success at Escala 1. Next piece of the puzzle is the financing and building of the processing plant. All in all encouraging news but no home run yet.
Good point. I hope you are right about the financing. Light volume today indicates that this wasn't
considered a big deal by the market. If the company put Rothschild on the BOD it would mark some direct involvement witha major financial group. The timing of the newsletter leads me to believe that there is more salient news to come maybe tomorrow morning.Soaring metal prices doesn't hurt either.
There is no indication that the sshares are restricted but there is nothing to stop the company from buying him out and actually reducing the float.I spoke to Jaime a few times 2 years ago and he seemed like a decent and honorable man who did little to hype the stock. Guess my uncany ability to judge character remains undiminished.It appears justlikeone somehow got it right. We need Butch Cassidy and eh Sundance kid to ride to the rescue big time.
The euphemistic resignation of JM seemed inevitable and suggests that there was more malfeasance here than just poor management. He probably had no say in decision making since Petty took control. What is troubling is whether this will have an adverse affect on the company's relationship with the government and Comibol. Also of note is that JM remains a substantial insider since he holds a large percent of OS. It will be interesting to see how the shares react today. The Petty letter to be released tomorrowe probaly will address these recent events and hopefully set forth the current business plan.
The one announcement I want to read is that the company has obtained financing to build the processing plant and the eqipment necessary to get Escala to full capacity. If Petty can get the money many other projects should fall into place. Many pink sheet companies, I suspect, sell shares out of tresury to use for corporate purposes. The problem is that part of those purposes is the inflated saraies of the mangement. If they stop the dilution, they have the solution. Making a few shekels from Escala can't hurt either.
Trueheart, au contrtaire, I read and enjoy your posts. I only hope we all can make eough money to meet and see what the hoochey, chootshey ladies that roam the hills of Escala are doing to distract our hardy workers at the mine. Can't wait for the videos depicting the massive hydraulic turbines that are gouging out huge chunks of ore. Too bad that couldn't be the halftime show at the superbowl. Maybe next year, they can do a commercial if the Mine is successful. Current odds on that happening are as steep as Ron Paul being our next President.
Or get a wife. Then you wont need Fmnj to be miserable. Stop upsetting the profiteers. Next week is the week the videos hit the website or the fan.
You are a font of misinformation. The tailings were from the Pulacayo project not Cerro Rico and the company passed on it because of the environmental impact exposure and the need to file a insurance bond. The analysis of the ore's lead, zinc and silver content will be key to estimating the value of the Escala. this stock will require real news to move in this market environment unless a major buyer gets a heads up in advance. This sometime leads to a stock phenomenon called the move before the MOVE. As Groundhog Day appraoches, this stock sure feels like the movie. Same old, same old.
You are a font of misinformation. The tailings were from the Pulacayo project not Cerro Rico and the company passed on it bacause of the environmental impact exposure and the need to file a insurance bond. The analysis of the ore's lead, zinc and silver content will be key to estimating the value of the Escala. this stock will require real news to move in this market environment unless a major buyer gets a heads up in advance. This sometime leads to a stock phenomenon called the move before the MOVE. As Groundhog Day appraoches, this stock sure feels like the movie. Same old, same old.
Thanks Gy. Looks like gblt is at .0047 which is encouraging. It is amazing that 10 million shares can trade on offer with no upward movement
10 million shares traded so far at the offer. good news-there appears to be a buyer. bad news- there is a seller offering shares at .004 and offer has not moved. Anyone out there with level 2 who can shed some light at mm activity today. is gblt at the offer. Duh
A quick 5 million shares trade at the .004 offer. Obviously a buyer is here but sure a lot of upside resistance at this level. Hopefully the buyer is right.
Thanks for the link albeit most posters here have read the memorandum of Petty. It is disappointing that the new ceo hasn't given the promised update to investors and has announced little news on Escala development other than the insertion of some equipment and a tentative purchase of a processing plant. The optimist believes that the reason for the delay is that the company is close to signing a major deal to sell the gtl rights, or get financing to build processing plants. The pessimist thinks that this is all a scam and that the video to be shown was made by the company that made Wag the Dog and the landing on the moon. meanwhgile the current stock volume 0f 5 million shares average or $15,000 total dollar volume indicates not many give a damn. It is definitely put up time.
News of the formal appt of Dr. Jaime Arancibia does not appear to be very earthshaking. He apparently made the call to pass on Pulacayo and helped evaluate the Escala project. Investors need an update on what is actually happening at Escala viz a viz production and estimates of the recoverable ore. Likewise, silence from Petty regarding his trip to Zurich and a deal to raise capital is deafening.Like the nervous dentist, this investor is losing patients.
He did in fact come back empty handed unless the ill fated east delta deal was germanated there. This announcemennt indicated there have benn prior negotiations which he is expecting to finalize. Very silly to announce it unless he is sure he will not disappoint ....again. Also don't like that the contract was signed friday but no announced till wednesday. Should hyave announced tues in my opinion.
One would think that petty would not be fling to zurich without some sort of commitment on financing. The investment bankers have had a adequate time to do the necessary due diligence to fund Escala and who know what else.That is probaly the piece of the puzzle needed to have the company release figures such as the cost of the plant.
Todays news about the plant suggests that the assay must show the economic vaibility of Escala. If Petty gets a financing deal, the comopany can finally start to develop the projects. Good luck to all.
Considering the status of their website , with the last new release a year ago, I doubt they have a contract for Escala 2-3. This is a startup company that is trying to do a ipo for the toronto stock exchange. Maybe Mart can call the company and find out who has the contracts for 2-3 divisions. Maybe Franlin can get these properties if the Escala 1 is profitable. Sil and cde seem to be moving in the right deirection. Maybe fmnj is ready to turn positive with production and projects advancing. It will be disappointing if a status is not released next week.
a little shadenfreud. lol. go short now and make some money. money talks and you know what you do.
.004 bid. get ready to rumble.!!!!!!!!!
Considering the current disastrous journey in the equity markets, the stock is holding up quite well. Of the 4 millon shares traded today, all but 150,000 shares traded at .004 or better. A status report from Petty is overdue. Hope we don't hear the same old song or I will have to call him Bolivia Newton John.Wonder if any deals were made during the extended stay, Stay tuned.
I disagree. A company has a fiduciary duty to all stockholders, even those who are dissidents. It is time for the company to make some disclosure as to the status of the Escala project. By the way, the report said Bolivia to invest 54 MILLION in old closed mines. The story can be accessed under SIL news on January 14,2007.
Maybe you should start a countdown until the assay is released.
Good find. The report that $3.50 is the cost of am ounce to produce silver is one part of the equation. Now we need to know how much silver, if any, is contained in Escala. The assay of the ore is of key importance to determine value.
It appears that someone is trying to buy stock.The lull begore the storm possibly.
Bolivia expects mining investment by the government and private sector will be around $400 million this year according to a story out of Reuters yesterday. The government is planning on spending $54 to revive old mines. If Escala works out, maybe franklkin can get a piece of the action.
I agree. hopefully they will update the website and provide photograhic evidence of the type of equipment being used. I also am curious as to why the assay wasnt done sooner. Maybe the ore laying in the mindshafts doos not give as clear an assay as the rock they are now mining.
With gold and silver hitting 20 years highs, a positive assessment of the ore in Escala will give the investment community needed information to evaluate the company's "prospects". The announcement of the commencement of mining ,using in place equipment ,signifies that the company is finally commencing its first project. If anyone knows what the capital expeniture is for additional hydrolic drillers to be installed in the shafts, we can have some idea of the money needed to grear up production to phase 2 levels. These announcements, along with the decision whether to built a on site processing plant, should be very important for present and future investors to evaluate their portfolio position. Based on the company's history of failing to proceed with projects such as Mayamaya, GTL in bolivia and argentina, and pulacayo, I rate this stock a hold pending further news. As usual with most start ups, capital liquidity is most important for corporate growth.To be able to finance the other projects from Escala seems to be pie in the sky but, who knows. This message will self destrust in 15 seconds.
My reading of the release is that Franlin is pleased that production techniques using hydrollic earth movers will enable it to surpass and possibly double the oreiginally predicted output. It would put them in the area of 500 tons per month. The uncertainty is how rich these tons are in mineral wealth. The assay being done by the independent mineralogists will be the key to estimating how much money, if any, this project will generate.Looking foward to a photo showing the mine and in place machinery to confirm that the mine is finally operational.Cautiously optimistic that this is indeed a mining company.
Technical indicators are firming up. Stock made a 10 percent move above its 9 day moving average. Looks like there is little inventory until .0048 area. I think the stock will make a move before the close today. Mews on Escala and maybe a surprise in store for next week?
I agree. Stock looks like it is ready to reverse course. May be due to January effect or some frontrunning of a future news event. .0039 bid seems to be holding up despite selling pressure.
I believe it is FA who is the Ron Paul supporter. It's his board and I guess he can post anything he wants since we still have some modicum of free speech in this country.I wish Adlai Stevenson was stil around. lol. Whatever happened to Ru Paul?
I believe the catalyst to make Franklin a successful mining company will be the ability to generate suficient cash flow to finance the development of Cerro Rico. The March 31,07 financial report shows a negative (-247,000) cash flow. The hope is that Escala will turn the negative outflow to a positive infow of the money needed for the companys primary project. The companys report lists a 1 million d0llar legal judgment and a 200k reserve for cleanup in Colorado.This seems to be extraordinary one time charges. I have not seen any reports as to what this judgment pertains too; but, my guess is it may involve an environmental suit brought by Colorado involving cleanup of abandoned mining sites. Stock continues to trade listlessly on very light volume considering the large O/S. If they can report good revenue stream from Escala and/or some financial help from the sale of the gtl properties or Colorado, the trading activity should come in on the buy side. Going on the otcbb would help too as they have a more efficient market maker system as opposed to the pinks making executions a little easier for traders. Anyway, thats my take for anyone who cares. Good luck.
My take on the newsletter and reading between the lines. Company is selling product from Escala and will use the nearby processing plant since the company does not have the capital now to build it. He leaves the door open for a decision in January if the Escala estmates of mineral wealth proves accurate.
The gtl plants are still up for sale and results from the November meetings and any capital deals will have to wait till after the quick approaching holidays. I was disappointed that we didn't get any hard sales numbers but on reflection it may be improper since sales are supposed to be reported in a 10q sec report with audited numbers.
Cerro rico will need a lot of capital to build the infrastructure.Any true start of on site preparation is probably a year away.
That being said, the company is now running an established silver mine. with credibilty as a actual mining company, it would not be surprising if they were awarded other sweetheart deals by comibol. The 20% profit sharing arrangement with the cooperatives may prove to be a brilliant stroke by Petty.
they are negotiating to sell the Colorado property and Pulacayo is for all purposes dead probaly due to high environmental costs.
Finally we may get a little news just before the Holiday as the the result of the next sale. Hope to see a nice January effect move starting soon. And best of all, americano is back.