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lookk up rule 144 form from the sec and you will find your answer. Please try to be accurate in your posts. There have been no insider sales of fmnj according to the sites I monitor. I believe that the company has sold shares out of treasury to finance the projects and pay salaries and "tips" for government officials and relatives. The next move should be very interesting. Less thann a million shares traded today and no bites when the stock was bidding .085. Lets see if things pick up in the last hour.
I think you are mistaken. It is a planned sale. BTW ecu mining, whoever they are, also has a planned sale filed on Sept 7, 2207 for the same amount of shares as Jamie. I am going to see if I can ascertain who ECU mining is viz a viz fmnj. Go check the stock volume and see if you can account for 24 million sahres on August 30
Big spread .006- .0085. Looks like the MMs are preparing for some sort of trade. The trade in Frankfort of 2 million shares at .004 is way below the US market and stes up an interesting arbitrage situation for those who are nimble. The last time the stock made a good move the last hour was crucial. We are now approximately 3 weeks from launch of Escala operation hopefully.
I think you are mistaken about the sale by Jamie. I believe he filed a notice of intention to sell which is required by the sec to give investors a heads up before the transaction is complated. Even when this form os filed the insider is not required to sell. Maybe he filed because he expects there will be good news soon that will create a demand for the stock.
Smart buy in my opinion. It shouldn't take too much up volume to lift the stock from these depressed levels. It will be interesting to see how the volume increases as the stock breaches the 13 day and 50 and 100 day moving averages. I am hoping for a healthy but slow sustained move on increasing volume #s ie. 5-10 milloion shares per day. This may be what once was called the move before THE MOVE. Obviously the .01 level is a major resistance point and a pschological barrier. If the company has the goods, someone will know it before it becomes public and it will be reflected on a move up on NO NEWS. That is why I am surprised that people think we need news. It is better to see the stock move without any news announcement. A build up in momentum is better technically then a big spike on surprise news which is often followed by a significant retracement. To buy when you see some upward interest seems to be the smart investment play at this time. Monday will be a key day to determine if the stock momentum has in fact turned positive. I think it will open flat with a ask in the .007-.0075 area and then have a sudden upsurge in volume if no one show an inclination to sell at this level.
I have been watching the tape today as the volume, while still very low, is the heaviest its been in a week. It appears to be accuulation but it is hard to tell. Upticks lead and there have been some nice size trades at the .006 level. Last day of the quarter if there are any institutions looking to do some window dressing. :)
CRY A RYE ER RYE ING.... OVER YOU. True, you are still a lot better off than Roy Orbison. Even Jamie has been banished to the Gulag. Two men enter, One man leaves. I think this may be the time to step up to the plate as pessimism rules. If this seems like a tired refrain, remember, even a stopped clock is right twice a day. Good luck
The Frankfort trade of 2 million shares converts to a dollar total value of approximately $8,000 to $10,000. If it was double counted as a sell and a buy the seller sold 1 million shares for $4,000- $5ooo and the buyer paid $4,000 -$5000 for 1 million shares. Not exactly earth shattering numbers. The market cap of this baby is approximately 10 million. If this becomes a true mining company the stock is cheap. There sure are a lot of crybabies on this board. It's only money.
I agree. The volume is miniscule and does not support the theory of widespread management dumping. For instance today the entire stock $ value for all shares is a few thousand dollars. If you check the Market maker activity on the otcbb you will see that the dreaded gblt is not the high volume maker for this stock. I think things will pick up in October as starup for Escala approaches. This last announcement was rather sanguine and not filled with hype which is probaly a good sign.
The language that testing and sampling should yield satisfactory results seems to be rather quixotic and conservative. Again, this may be the company not wanting to cause people to have over expectations or low balling so they can report a nice surprise. No way to know until the actual mining starts but it may cause some investors to take a shot at these levels.
News today of a startup date for Escala of on or before October 25. While the company's failure to reach prior deadlines may give many pause, Petty's credibility is on the line and I think the company may have given a month time frame to err on the cautious side. As the mine appraches startup, I hope the company gives some guidance as to the potential of the mine so investors can be better informed as to the economic viability.
Escala is on the border with Argentina I believe and since the mine is a closed facility it should not be affected by rainfall. I don't think it is a Gulag. Things are much worse in Potosi and it is a lot harder to breath there due to the3 elevation. I think that if there is a move in edlt it will be carry Franlin higher as it increses the value of the fmnj position.
Since Jaime has given up the CEO reins to Bill Petty, it will probably be his decision as to whether to continue the newslstter. As to Austin's firm, Steve was a nice young man but not very knowledgable about the working of the company. The Brittany reference is a funny non sequitor. BTW: Can someone here private message NYBOB to see if his absence is due to a lack of faith in the company or is he just miffed that he was suspended for a while. I'm sure we would have a lot more info on Escala if he was around.
As the month draws to a close, it would behoove management to give the shareholders an update on the Escala and Pulacay projects. The extremely light volume would indicate that the company is off most radar screens.
I disagree. the company is 6-9 months away fron mining at cerro rico. What is needed here nis credibility that they can mine anywhere. Escala seems to be the place they will start. If is happens the stockn will refelect it in pps.
Thanks for the additional research. I agree that there is a problem with the Pulacayo project that may account for the stock weakness. I now belive that there is a possibolity that the delay is caused by the cost factor in paying for the environmental safety features for tailings processing and the insurance bond required to start the project. Perhaps the company will have the necessary cash flow from Escala to do both Pulacayo and prepare Cero Rico. The strong metal rise may also have a upward affect on the PPS as a high tide causes all ships to rise. I am looking for a strong move in all the tertiary stocks, such as AURC and FMNJ, that have so far missed the move. Money managers often look for weak sisters in a strong industry. For those who have any dry powder, now may be the time to buy. It is unlikely that the stock will sink to the level foreseen by our moderator, in my opinion, based on the future prospects of the company. I think the change in management direction, having Jaime work work with the labor people and Bill on the financial side, strikes the proper cord for a big recovery. If anyone has any dry powder left, this may be the time as the risk/reward ratio seems as good as big slick in hold em. Do you own research and certainly so not go ALL IN until we get further confirmation that we are on the verge of a start up of MINING.
whats the computer icon for crossed fingers. The stock is acting like pulacayo is dead but you never know. I went to the site. They sure have a cool coat of arms.
If a subscribing member would be so kind , please send a private message to NYBOB to find out it this hiatus is permanent on the fmnj board. Knowing his deep religious and humanitarian feeling, oft expressed here, I am sure many are shocked that he was suspended from posting. Maybe an indication from the posters that he is missed will cause him to rethink his self banishment. *****
it is difficult to draw any conclusions on east delta since the stock is thinly traded and if it sells on the offer it will be basically unchanged from the price after the purchase of Bolivian O&G rights. For all we know fmnj may be a seller to raise capital for the Escala mine. With the price of gold moving up, I wouln't be surprised if edlt spiked up with the industry as a cheap play on Chinese gold. I urge patience as the industry and economic inflationary climate may filter down to nice moves for the smaller plays.
Ebz and Trueheart- Thanks for the information. It confirms what I believed after reading the pdf file. I think Longhorn is also trying to get some info on Escala Mine potential. The hands on treatment the company is giving this project leads me to hope that this may turn out to be profitable and establish the long sought cash flow. I hope that the company itself will give us some guidance soon now that they are on site.
Thank you for the due diligence. I wonder if the Escala project referred to in the document encompasses the Escala Mine since it apparently was a project to mine the mountain area for silver. This mid 90s period in Bolivia was disastrous for the mining industry as tin and zinc prices fell to lows making the mines economically non viable. With the current rise in metal prices accompanied by a very weak dollar, and with major technological advances as a poster just suggested, the economic thesis may present a great opportunity for the company to make some real money. The last announcement, which was mostly a repetition of palns to startup, did add that representives from Comibol would also be on site this week. A significant increase in stock volume may presage a rally in the stock. Thanks again for a good find.
Where did you find the info on the joint venture with Barrick. It is encouraging that a major exploration company saw worth in Escala. Given fmnj's history in doing assays and surveys,, as noted on the website, before making an investment, one would think they have some hard data for putting up the 200 k along with refurishing the mining town. I would expect that we will be given more info as to the expected value as the mine is prepared to be restarted.
Sure hope we are not getting the shaft. What makes you think this mine was operated for 400 years? Wasn't that Cerro Rico? If earlyman could post the source of his info on Escala it would be apprecaiated to see if there are other links.
Good point. I tried to find info nas to the past history and reserves in Escala without any success. Too bad NYBOB is sulking since he was very good at locating informatuion on the history and projects. The company will probaly put out some PR on the reserves at the mine when it becomes operational. Since there are builidings, lodging, and there will be a hospital on site, my guess it is a defunct mine and not a tailings project. The rise in precious metals should helpmmake this project economically viable I hope.
fmnj now owns approximately 25% of east delta. If it does well, FMNJ will share it its success by a increase in value of its holding.
The president appointed on August 1,2007 for East Delta is David Bikerman who previouly was affiliated with the Delbear group working with fmnj. Looks like he was the connection to make the deal for the gtl property in Bolivia. Franklin appears to be making a major reorganization of its business strategy. I expect that the next major news to be something totally unpredicable and out of the blue. Amazingly, Escala came about suddenly and the company projects it to be on line in a few weeks. I think another shoe is ready to drop. The next few weeks could be very interesting.
Not bad at all although, as you know ,paper gains look good but are often illusory. I don't think he can sell 500 million shares too easily on the open market unless Buffett turns a fancy for silver. Where are the Hunt Brothers when you need them. As Butch and Sundance said when they were hunted by the Bolivian federales, " who are these guys". Gotta hunch that something good is afoot but what do I know. If I were a rich man...........
Once again good due diligence though available if one can navigate the website. After the sale in August by Jaime, Petty apparently became majority shareholder. I see they also have a huge convertible preferred interest. These guys certainly have a vested interest to make this a successful company.
This IS big news. Now we have a Petty officer. I like the dichotomy as Jaime seems to have placed himself in a hands-on position to operate the Mining diision while Bill Petty is more sophisticated in making deals. I am interested in ascertaining how many shares of Franklin are owned by Mr. Petty. Please post if you can find this info. Escala should be starting up soon. I wonder if Petty will continue the newsletter to inform investors. GLTA
The GTL rights in Argentina may be more valuable since the project will not reqiure the 300 million expenditure planned for the Bolivian plant. In my opinion the company has kept this division name and operation so they could sell the Argentinian rights. I also think that Argentina is considered more politically stable than Bolivia which lessens risk in the mind of the oinvestor there. A guess on the value is difficult since we do not know what Franlklin received for Bolivia since 20 nmillion shares of a thinly traded company is hard to compute. As I said, if a institution wanted to buy 20 millon Delta before the fmnj deal, one would expect that the price would be as high as .75-1.00 to shake out the shareholders. Also under insider rules, Franlkin's position is now considered a insider holding subjecting it to filing disclosure orf intention to buy or sell shares. I would not be surprised that any Delta news that causes its stock to rise ie. postive gold mining results in China, will cause Franklin to move also.
East Delta also trades on the Frankfort exchange under the symbol EDJ.F with usually very light volume. Biggest recent volume days of 20k shares Aug 17 and Aug 20 which may have been when the deal with Franklin was being arranged. I would like to see the next newletter shed more light on the company's current business plan.
thanks. i knew the mms were listed somewhere on the otcbb site. It is interesting that gblt only did 5 million shares in August so the claim of high volume mass selling by management doesn't see to be confirmed with this MM.
The average user at stock targets believes that the company can be as high as .0654 within 12 months. :)
Sorry for the misinformation. You can only get level 2 mms on the otcbb site for pink sheet companies if you subscribe. You can get a list of mms if you search high volume bb companies. Same goes for the pink sheet site.
If you are interested in tracking the market makers go to otcbb site. it will give you the names and the monthly trading activity in the stock of all the market makers. Again, I don't believe this information is particularly helpful since you don't hknow thir book. The site is good in that it gives you the position of all the mms. Good luck
After rereading and thinking about the Delta deal, I believe it is noteworthy that Franklin is retaining the oil and gas division even though it divested its chief project. In effect, this can be looked upun as a joint venture since Franlin now becomes a significant majority shareholder in EDLT when it is priced at only twenty cents. If their exploration in China flourishes and the share price moves to pre summer levels, it would be reflected in Franklins balance sheet. Also Franklin is If Fraklin still free to make new deals for itself in its Bolivian division.A spike in EDLT may transalte into a spike in Franklin. I hope that the company has tabled the dividend idea. Sorry Mart.
I am not the one who follows market maker activity in a stock since I find it is not valuable in making investment decisions. The problem with the system is that the MM does not have to show his book or true order. He can show as little as a 100 shares on the bid or ask when his customer's order may be many times that amount. Stocks move according to supply and demand. More buyers than sellers causes an u0pmove and no market maker can give you or will give you that information. That being said, I am very surprised the news yesterday did not generate more volume either way. A watched pot never boils.
Are you Victor Sun? As to your question of why, maybe the Chinese were looking for a counrty where the miners are paid even less then they pay their people. Seriouly, it is too early to draw any conclusions as to the meaning and sense of this deal. I disagree with Mart's view that that edlt will be diluted and sell off as fmnj or its shareholders sell off these shares. If you tried to buy 20 million shares in the open market of edlt, i can assure you the stock would be significantly higher. Go to yahoo historical prices and look at what the stock did on high volume days such as July 19.I still have a hunch that GDR Privee is behind this deal and that their will be more news after the deal closes in October.
The Mart man would be very happy with a 125 to one spin off of shares in the new company. Comes to about 11,ooo for him at .20 a share and company has traded closer to .50 as recently as July. Also if the speculation on outstanding shares are correct, FMNJ indeed owns 25% interest in a Chinese Gold mining company. I have a Chinese fortune cookie and I am opening it now......Oops it reads: Help, I am a prisoner in a Chinese Fotune Cookie factory. Maybe EDLT is mining lead for use in the toys!!!!
Interesting point. assuming the shares come out of trteasury the float would be approximately 70 million giving the company a market cap of only 14 million if my arithmetic is right. I think gdr privee may be all over this deal and it may have baeen closed when Rothschild was in Bolivia. Sure would have preferred havong the 3 million in cash to fund the projects but it is too nearly for anyone to analyze this news wiothout further due diligence. We should all think about what this all means before prejuging the event. The market seems to have given it less than a yawn.