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I hope that the newsletter to be released today will clarify the current status of the projects in Escala and Cerro Rico as well as the meeting with Rothschild and investors viz a viz the gtl properties in Argentina and Bolivia. It appears that the company has undergone a complete reorganization under Petty. Hard decisions to scuttle Pulacayo Tailings project and the agreement with East Delta indicates to me a willingness to pare down questionable ventures. I think that the key to success here is financing and cash flow. Escala is , at least, a start. Also would like to know what the company feels the revenues will be when Escala is fully operational? Also want to know if mining is being done at Escala2 and Ecala3 3 which were leased to other companies.
After rereading the news I think the company has the choice to sell the bulk unprocessed tonnage for $650 per ton or to process the tons at a nearby plant for a fee and then sell the processed zinc, silver etc at market prices. It appears that it is too early to estimate how much revenues the company can derive from this project but at least its a start.The newletter promised once the website is up and running will ,hopefuly, provide additional clarification.
News out this morning regarding first sales from Escala. It looks like the company will have a steady cash flow which hopefully will help them finance other projects. Approximately $300,000 in recovered tonnage is now available for sale.I hope that they will use this cash to fund the other projects as well as developing the Escala mine. It's a start albeit a modest one.
I believe you are mistaken. The malfeasance of the management people fired by the company involved the Pulacayo project. When Miraamonte mining engineers visited and took a sample back to ascertain the type of processing plant to build, they found tailling processing would not be economically viable. Prior to that they screwed up when the Peruvain manufacturer coulnt get the necessary insurance policy.Finally new environmental costs caused Petty to decide to abandon the project. This information was gleaned from the website and information posted by reading between the lines. Do you have a more direct source of your information and speculation?
according to franklin mining memo the gtl deal is very tenous based on east deltas lack of oil and gas experience. Neithe companys price moved on the initial announcement confirming the markets lack of appreciation it could be achieved.I will no longer post here since i was here based upon the edlt and fmnj partnership. good luck on the china gold venture.
Enjoy your life. It sounds like you are doing fine. Stay away from things that have little interest and knowledge. Best of luck.
unlike you I usually do not post my purchases but I wanted Inv lady to not lose confidence. I do not lie. I bought the 3 mil. over a 2 day period and the last 500k as I said. so what. Why are you so angry. try to be happy and hope that Bill can close a deal with the bankers next week. Maybe some frontrunning is occurring. escala is probably a small asset but it gives the company credibility with the government which could lead to more deals. Giving the miners a piece of the action is huge. Pleasw dont post that I am on this board.
hi investor babe. i Have loaded upm here and expecgt a big run. bought 3 milliobn at .005 and a mil at .oo6 today. don't listen to the losers on the hub. this can be an explosive situation. lets keep this quiet. Don't post. wait for the ride. A double in a short time wouil;d notr be a surprise. trust me.edlt may still be in play but I love the fmnbj leverage. Half a penny or nso. good luck. shhhhhh.
Get a quote on rtp and let me know if you think fmnj is overvalued.
Looks like someone has been following your advice and nibblling in the twenty cent area. Wish the company would give more info on its projects. The gtl deal with Franklin may have fallen apart since it did not close on the 25th and Franlin is bringing in outside investors to view the sites of the prospective gtl projecrs. Can youi give me any reason to have onfidence in this company? Most China related companies are exploding at this time. Why has edlt been left behind?Ot: investor lady, your lack of confidencde and submission to a bullying poster is disappointing. The real money is made when one can pick out a good buy when stocks are hated. Both edlt and fmnj are probably seriously undervalued here. Look for a move before news is annoounced as insiders always seem to get a handle a little earlier.
Expected news on the closing of the gtl deal with fmnj. If it occurs, it will be interesting to seee how the market evaluates the deal. The lack of volume makes this a very difficult stock to trade. I think one will have to take a position slowly on thin volume and then hope to trade on news. The company's lack of pr makes this one that is flying under the radar. Would like to be able to do some DD to be comfortable with owning a position.
Do you have investor relation contact at the company. I want to do a little more DD here. A tel # and name will be appreciated..TIA
I'm gonna take a slow boat to China. This is the calm before the storm.
The question is does edlt have the ability to access them. I think Rothschild was infuential in putting together the Franklin gtl deal baded upon the Frankfort connection of both companies. It would appear that edlt would not have surrendered stock giving Franklin a sizeable position in the company if there wasn't a part 2 involving financing . We shall see if the bolivian deal closes this week. These type of plays are interesting because they are undeer the radar and have the ability to be explosive if the company reinvents itself. Maybe China capitalists will get involved here.
If they have backing from the Chinese capital markets. It is quite expensive to build a gtl plant. The original estimated cost was $200 million when the Shaw Group was involved with Franklin. Any movement on a plant could lead to a easy double for East Delta. A Delta move also translates into a plus for FMNJ which is trading at a half a penny due to failure to launch projects. Where so you think EDLT can get the financing.
the good thing is that we can steal some shares here since the volume is so low. the appointment of an Asian bodes well for the future of this company as there is still a Xenophobic reaction in China to foreigners. Do you think they have the capital to build a gtl plant in Bolivia. If so, this company could easily be a 10 bagger.
I agree. The Franklin gtl deal for Bolivia closes next week and todays NY Times article on the enegy crunch in Argentina and Bolivia suggests that GTL plants will be big in South America as the need to convert natural gas grows. Maybe edlt will also do a deal for Franklins GTL contract with Argentina where the country is suffering from a high inflation rate. I expect EDLT to spike up next week on news. Any positive gold news from China should get this stock back to positive momentum.
HI investor lady. I have left the fmnj board and have come here to monitor the progress of this company. I am surprised that this site has not posted the purchase of franklin minings gtl deal in bolivia. At t5he .15-.20 area this stock appears to be a good spec.Plus if nedlt moves upo from here, franlin is sure to follow inho.
What you said was that it was the end of the line for Jamie and Bill. If you disagree that many investors will throw in the towel if Escala fails to startup, you are , of course entitled to youir opinion. Your belief that an investor class action will be successful is very naive. Class actions of companies that have little funding are never successful. You know, blood out if a stone etc etc. Since my attempt to take a positive attitude has been met with so much disdain, I will take a leave of absence from this board. When the moderator suggested I was an insider trying to pump so I could sell and profit, it left me with a bad feeling about giving my opinion about the prospects of this comapny as well as they nature of the posts on this site. I wish all good luck in their personal and business endeavors. I suspect that NYBOB has likewise quit this board due to the disrespect and vituperation accorded him by fellow posters. My intention, like his ,I believe, was to shed some light and thought about the prospects of the compamy implementing its business plan and to encourage an exchange of ideas. In retrospect, that was an exercise in futility. Good bye and good luck.
I was talking to BIGWAVEDAVE but I will try to give you an answer in you were not being facetious. The stock price will go up like all stocks do when there are more BUYERS than SELLERS. If the company starts to have a cash flow from Escala it hopefully will attract new money to buy shares as the company capitalizes so it can enact its ambitious business plan. At these prices the market cap of approximatly 10 million dollars looks very modest. Do you know any mining company to buy for that number? Of couse, if they can't do Escala, Pulacayo and/or Cerro Rico, the stock may be overpriced since it would not be a mining company but rather a shell.Obviously, because of lack of follow throgh from past promises and deadlines, new money is sitting on the sidelines and old investors are holding or selling as they are fed up or just plain bored. As Trueheart has stated, and I have to agree, if this mine is not on line by Octoberr 25, many here will give up the ship. We shall see.
Let me explain the trade you cite. At 11:39:58 a trade of 75000 shares @ .0055 was printed, At 11:42:39 a trade of 75000 shares at .0065 was printed. What probably happened was that Mr. Smith sold 75000 shares @.0055 throgh a MM and rec'd $412.50. Mr, JOnes bought those shares through the same MM at .0065 for a cost of $487.50. The MM who acted as agent for this sale made the difference or $75 for handling the trade. The MM in this instance had no inventory in his portfolio of fmnj shares. Hence while a total of 150,000 shares are counted as a trade, in fact, only 75,000 actual shares were involved. This is called doulble couting . Yesterday a block of 2.7 million shares were doulble counted to show a total volume of 5.4 million. As you can see sometomes vplume figures are exaggerated by this methid of counting shares.
You are nurturing this board as well as Susan Smith nurtured her children. Daddy dearest give it a rest. Since you missed the big runup you have continually expressed a desire to be able to buy shares in the .00? range. Good luck. I am a buyer at these levels and I will be happy to remind you in November Mr. Modest Moderator. By the way, accusing a poster of being an insider trying to manipulate a board when you have no proof may constitute a violation of the rules for this site.
FA. I take umbrage at your suggestion that I am an insider as well as the statement I have told people to buy. Unlike you, I put my money where my mouth is and would never make adverse comments about a stock in which I hold no position. You are also mistaken that the company flourished because of a April pump 2 years ago. You may recall that the stock was serioulsy affected by the May 1 threat of nationalization by Morales which put a major damper on the confidence of investors as well as investment bankers.As the moderator of this board, you are totally out of line. Is it your intention that I refrain from posting here? If I am not welcome, just let me know. My judgment of this company obviously differs from yours. Look up moderator in Wikipedia my friend.
After a few drinks.
Don't be sick. There is a 23% diff. in B/A. This is a huge spread when there is high volume and indicates program trades. If you want to feel better, buy 100 ssshares on the ask for $6 and the stock will show unchanged. Make sure you use a good brush to paint the tape:}
Drop of the bid to .005- ask.0065. Looks like they hav more shares to cross. The spread tends to keep the small investor away.
The trade of 2.7 million shares appears to be a cross, that is a buy and sell directly between a designated buyer and seller so it appears to be 5.4 million on a double count. When there is a negotiated trade, the market maker has to stay on the ask to accomodate the transaction. In fact, all the shares trade today on the offer. This may be management selling shares out of treasury to an investor or institution. Anyone know todays date.
As in casino gambling, there are many systems in the market and almost all fail empirical analysis including charting. Many academaticians believe in the random walk theory. BTW many card counters are successful using multiple decks and in fact, if the deck is favorable early, it gives the player more hands to bet before there is a redeal. As for fmnj, I think the stock may surprise many by moving before a news announcement which would indicate front running. A clue that this is happening is when the stock closes strong and then opens strong the next day. If we see such a pattern things may get interesting here.
wouldn't a date with Pamela Anderson please you more. Get your priorities straight my Texas amigo. :}
Longhorn makes a good point. If you go on otcbb level 11 you will see a printout of all of the trades today. Of all of todays volume of 4 million shares only 580,000 traded at .007 which was above yesterdays close. The problem with watching the up and down ticks is that you do not know how many shares are really on the ask since that market maker usually only shows 5,ooo shares. Today while only 5000 was shown on the ask all day, actually 3.5 million. That being said the total $volume of all the trades combined was $28,000. A google we are not. Hope tyhe fundamentals improve and sthe stock price should follow. The market cap here is so small there is lots of room for a major move if the company comes through on developing its projects. Still a big IF but a good spec in my opinion. Now concentrate.
Thanks for your permission. Btw your belief that if the asked keeps getting hit it shows strong up volume seems to be misleading. Today the asked was hit for most of the day and it failed to move the ask from its closing price. If you can read something positive from that, good for youi.
He may be a multinational. In fact, from his use of the English language, he may be Borat.BTW. He is the person on the far right in the picture he posted. Bet he also met Butch Cassidy and the Sundance KId when they were in Bolivia. He coined the phrase " who are those guys".
Maybe the company can do a deal with China for the lead they use in US toys. What is the current price of opal and is it like ofal? The company's announcement mentions gold and silver for whatever that is worth. Is it true you have Pee Wee Hermans bicycle taken from the basement of the Alamo.
I don't think you meant to say that Cerro Rico or Pulacayo projects were dropped. The only project the company has oficially abandoned is the GTL plant in Bolivia when they sold their rights to East Delta. I don't think the company will have a firm handle on the ore in Escala until after it is processed in a nearby plant. When will you start the coutdown to the October 25 date?? My guess is that they get it done before then as the company's credibility is on the line and I think they picked a very conservative starting date.
That is very excitong news. Since the company shares revenues with partners, is the $100,000 net to the company after deducting partners shares and the costs in running the mine including the workers. Also did you learn the reason for the delay in Pulacayo when the last thing mentioned was the evaluation to be done by Miramonte to determine the type of processing plant. Is the delay caaused by the need to show environmental safety and the prohobitive cost for the bond? Jamie said the Peruvian plant fell through because of the failure of the contractor to secure a bond.
Are you saying you visited the Escala site.? If so, what were you told about the potential of the mine. Please describe what you saw and who was there. Thanks
I wonder what types and the amount of metals the company expects to be extract from the bulk tonnage. It appears that they want to see how rich the tonnage is in silver etc. before going ahead with building a processing plant on site. It appears that finally there is movement to being a real mining company and that is encouraging. WE are approximately three weeks away from fulfilling some potential.
While management certainly has not lived up to statements about their projects, it has treated its paperwork as if it as a Nasdaq company thogh not required to as a Pink. The filing of the intention to sell form is an example and even that caused some to misread the form and think that the sale was completed. They also took an action in replacing Jamie with Bill Petty indicating that the company felt a shakeup was in order. It's a new season albeit the rainy one and there may be a silver lining here yet. The b/a seems to be expanding and the selling pressure for now has abated. I think we are one high volume day from a good upside move. Someone always knows something ahead of the event and a investor has to guess by looking at CSI type clues such as volume and stochastics. Maybe Dexter can help here by examining all the blood that has been spilled by the unfortunate investor.
If and when an insider sells under this rule, he must file and it is reported. I repeat, according to the latest sec filings I could find, there have been NO insider salesof this stock in over a year. BTW the conventional wisdom is that insider sales are not as important as insider buys. The theory is that an insider can have many reasons for a sale eg. selling employee stock options while a buy is indicative that the insider thinks the stock is undervalued. It was a quiet day today with no follow thru of fridays action except that stock held a decent bid off the low all day.
Looked up ecu mining, a company who has a position in fmnj and has filed to sell up to 24 million shares. Company trades on the toronto stock excahange and is a mexican silver mining company. It sells for 2.30 canandian and has a market cap of 536 million or 30 times the market cap of fmnj. If we were at parity fmnj would be trading at .21. Wonder what they saw in the company to make them take a position in the stock.