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I agree. The market may not understand it but fmnj has positioned itself as a general contractor for comibol. Likewise I believe that when the company has positive cash flow they can proceed with other ventures such as the gtl plants and even reopening the US mine. BTW What happened to loaded gun? He has disappeared from my message list.
oops i figured it out. I accidentally put Spike on ignore and his posts were erased from my message list. My bad. sorry.
FA- all of his posts are gone eg. 13090,13088,073,12952, I could only access them thru a search under his screen name. Very strange
If spike is close to the company or part of the pr firm, I would be especailly interested in confirming some of the previous info he provided. He posted that he believed that a billion shares were restricted 504d shares. Can you or nybob confirm the accuracy of the status of these shares.
Financial advisor- Why was spikes posts removed from the board. My suspicion is that he was a banished poster who obtained a new alias. Too bad. His posts were somewhat informative and more interesting than most.
ken if the babe in the ad is there who cares. we are all going to die.
ever hear of the helicopter pal.Stop spinning your wheels.
I zinc you are going to enjoy your meal. I am putting on a diaper and driving to Bolivia to celebrate. Hope the rain doesn't hold me up.
A watched pot never boils especially when it is a pot of gold. Stop looking at your watch, open it up and check out the works.
The announcement that the company made of its intention to do a buyback in the future was to address the concerns of many here that there are too many shares outstanding. It is also a signal thatt the company does not want to go the reverse split route to reduce the o/s.The dreaded r/s very often is a downer for the holders of pre split shares. It is often used by compsnies to prop up share price to stay or stop the removal on a trading board such as nasdaq. No one knows the true fair evaluation of market cap for this company yet. Meanwhile, the trend is your friend.
The stock has formed a nice base and I believe we are ready to break out as the tailings startup drawere nearer. Things will be heating up soo0n as new money flows into a cheap stock at the sub nickel area. GLTA
just like on fox bob-fair and balanced. thanks for the info.
can anyone here calculate the value of this contract. What is the fair market value of 50,000 tons of zinc. I zinc we are on are way to developing a great company. A buyer for Zinc may presage a buyer for the silver and gold from tailings and cerro rico projects.
NYbob I looked at sil and stand corrected. you don't need to be positive in earnings for the market to give you a big cap. Also have been following cde who i believe are the biggest silvwer producer. Both companies are heavily invested in Bolivia.
I don't believe the cerro rico project is an intangible asset. I think you mean one where the true reserves are unknown. Whether or not it is reflected in the balance sheet doesn't matter to me since until it is mined it has no value to the company.I am waiting for the company to make money. Then let's see how the company is valued.I am not interested in accounting machinations its time to start the engines. Gentlemen.
I am glad that have finally found the information you thought the company was hiding. I do not know when during the nine month period ending sept.30 the shares were issued. The runup ended on May 1. In any event, I don't think it is relevant as to when the shares were issued. The important point is that they were issued for corporate uses by the company and gave the company neede revenue.. Your snide remark about self dealing is noted and you may have guessed I do not have to look it up. No comebacks from me here since as I told FA I believe in Karma and am superstitious enough to not want athers to root against me. I would not have upset if you got lucky enough to buy in when the stock traded between .012-.018 observed by the chartists. My posts are my genuine opinions of the company and of course I hope others will agree with me and make wise investment decisions in this stock. My problem with you is that you want to apparently scare others into selling the stock using misinformed or uninformed opinions about the company and its management. I think they are hard working people trying to keep investors genuinely informed and letting us see their plan for buliding a viable and exciting company. Still don't understand bashing of a company one does not own. By the way if you go to Knobias you will see that the short interest is now zero so you can't be short.Unfortunately for you, I think that their is a good chance you will be even more aggravated next week.:}
The friday .0275 price is the highest close since sept 7 when it closed at .029. Volume is not very impressive yet but I believe that interest will increase with the move to the otcbb and the start of tailings pilot plant. A reading of the 10k for the quarter ending Sept 30 answers the dilution question posed by the bears here if they only took the time to do their own due diligence.Obviouly the compny needed money to pay for the pilot plant, the opening of corporate offices and the payment of consultants, accountants etc. They raised approximately 500,000 through the sale of shares to a privae investor or investors. Kind of llike a bridge loan except the money was exchanged for shares so the company has no debt. The need for additional financing may not be necessary if the tailing project generates the amount of cash flow expected by the company's evaluation done by independent experts.The true unknown is the Cerro Rico project. If it really contains the 2.2 billion in minerals, and the company has someone or someway to finance the gtl projects, the eventual market cap of the company can be enormous.In my experience the high flying stocks were valued for their great potential before it became a reality. While most failed when their projectons proved to be unattainable, a small few flourished when they were able to execute their business plan and model. See the internet and gene development stocks for a list of busts and stocks such as amazon and ebay for booms. In which category will fmnj fall, that is the question an investor hopes to guess. Yes a guess, albeit an educated guess based upon info available and then hope for a little or a lot of luck. At current level, the price seems very modest Thats my 2 cents worth of opinion this weekend.
Todays news is interesting in that it indicates that the pilot plant that was located, I believe, in peru has now been moved to La Paz Bolivia on its way to the pulcacyo site. Maybe someone here can post the distance. It looks like there is a reasonable chance that tailing production can be commenced within a few weeks. This is exciting news along with the reaffirmation of the expected reserves at Cerro Rico.
Todays news is basically a recapitulation of the various projects the company is undertaking. Reading between the lines, the mention of full government contractual support for the comibol projects is reassuring. Much of the erosion of price is attributable to investor uneasiness in investing in an unstable left leaning Bolivia.Reaching a good understanding with government is always good business and can lead to further contracts. It sure worked for companies like Haliburton here.The statement that company is , subject to final due diligence, getting ready to make final investment to start Cerro Rico show that they are keeping their eye on the ball. JUst one man's opinion.
If you did your dd you would know long I have been here(april30,2005) and if you read my post history you would learn of the position I was able to accumulate and the price. See post 917.I sorry if I hit a nerve with you my friend but sometimes you have a case of hubris which needs a little dose of reality as a humility check .For your further information, I have traded this stock at higher levels since I felt it was prudent, unlike the Mart man, to take some money off the table when the stock exploded. I have since rebuilt my position and added as recently as this wednesday when the stock initially did not react to news of potential tailings startup in the near future. My gripe with you isd that as a respected founder of this board, you discouraged new investors with a indication that you expected the stock to again be under a penny. Those who followed this advice attempting to find a bottom have missed the boat. See sortagreen and Trueheart. Likewise when the stock hit 9 cents, you had a bad case of sour grapes. My cheerleading is sincere since I truly believe that this company can become a major player in Bolivian mining.Finally you may recall my plea that you consider having a position in a stock on a board you founded. I believe in Karma and do not like people rooting against a company I own. Again I appreciate your efforts in founding the board and making the decision to allow NYBOB to co moderate and provide us with the benefit of his extensive and time consuming due diligence on fmnj and the counrty of Bolivia.
just curious FA now that you made the call. How many did you buy at.012 or were you waiting for your prediction that the stock would go to .oo8 to prevail. Like they say, those who can do.....I believe the stock will soon top the .02 resistance level based upun the fudamentals eg. the commencement of the tailings project, rather than the prescience of chart reading. The argument of charting viz a viz fundamental analysis is as unproveable as the chicken or the egg conundrum,don't you agree. I am enjoying the silence of the lambs on this message board as the stock appears to have established an upward momentum.One last thought. If you check the times and sales and volume numbers for the stock in late dec and before the announcement, I think you will see that very few shares actually traded at those levels and the prints may even be market maker prints to confuse the unwary. In my opinion that is why you may see a trade for as little as $5 in dollar value.I don't believe anyone could buy like 500,000 shares at that bottom level. Bottom fishing is nit as easy as you think and have posted.If it was easy, everyone who could do it would be very rich. Looking foward to next week.
Just reread yesterdays release. THe 200 sample tailings are being analyzed by a comibol approved lab in Argentina and company will start immediate processing upon approval with comibol to generate cash flow. Reading between the lines it would appear the the pilot plant is on site and ready to start up operations pending the last piece of due diligence. No time frame is given so it can happen at any time. This should be the singular corporate event to give the company credibility with investors that it is indeed an operating mining company.Stock is acting strong and is slowly being bid up as of this writing.
premarket open bid at .017 offer at .018 indicates that buyers are around. If we surpass the jan 4 .019 level we will technically be set for a possible breakout. The clock is ticking in a favor of the bulls as we approach startup of tailings project. This can get very exciting real soon in my opinion. It sappears that those who were looking for subpenny price for reentry will be disappointed. Hindsight makes many geniuses.
I see fmnj is getting some press from marketgainer.com. According to their disclosure they were not paid for this pr. You may remember guru.com was paid shares to do pr during last years run when the stock moved up prior to the May 1 disaster. That panic selling reflected investor fear that fmnj would be adversely affected by the nationalization plan. As a fellow poster noted, stocks move prior to the announcement of news based on anticiapation of a positive event. In this case, by the time the company announces the start of tailings production and immediate cash flow, the price should be significantly higher than the current .016 level in my concurring opinion.The train indeed appears to be leaving the station and heading for the mines! Thars gold in them thar hills.
the increase in silver price would increase the bottom line of tailings project in a big way since the production costs remain fixed.
A little news from the company as to their formulation of a business study to revitalize cerro rico. It appears that the company is getting ready to start building the necessary infrastructure at cerro rico using the money and cash flow soon to be generated by the tailings project. Its business plan continues to unfold nicely albeit not at the pace many here had hoped for. No deadlines or time frame projected as management has probably learned its lesson and is cautious about giving dates it might not meet leading to investor disappointment. May get a little pop in the pps as real production comes closer to being on line.
if you go to raging bull fmnj message board or quote.com you will see fmnj listed as being on otf. Dont know what it stands for but the symbol was pk before today.this may be a temporary symbol change before the company is listed on otcbb but that is only a guess. maybe someone else has more knowledge of the listing procedure.ot hoagie :check mai
I just noticed that fmnj is back on the pink sheet website. Seems to confirm the market maker status. I expect the company will make some sort of release about the listing on otc.
MY bad Texas. Typed Jaime when I meant Morales and Chavez.Your friend sortagreen is showing his true colors a sortared or sortapink combination. lol. Don't care to get into political discussion here since it only leads to diatribes.Anyone who feels comfortable with the democratically elected Chavez will not be disuaded or persuaded otherwise. To each their own. Looking at fmnj listed at OTCF. A friend of mine who knows the procedure for bb said that stock should still trade on bb for one month as market makers need time to come on board.In any event, it appears to be a upgrade which will facilitate a more orderly market which is the primary reason for the mm's existence.
I am not sure but I think fmnj is now on otc. This will help get institutional support I believe since many institutions are prohibited by their charter from buying the pink sheet stocks.otcf is exchange. F may stand for foreign.
Evo Morales' friendship with Chavez has been cited numerous times and you can probably google the information. As they say, politics makes strange bedfellows. Somehow JFK and Marilyn come to mind. Not too worry, I don't think Evo will be singing happy birthday Mr. President at Chavez' party. A socialistic movement in poor counties or in hard times is not an unusual phenomena. It even happened here after the Great Depression if I recall my history lessons and the FDR social programs instituted to aid the recovery.I choose to look at this supposed problem as a buying opportunity to purchase a very undervalued stock. As I previosly posted, the strong investment commitment that SIL and CDE have made in Bolivia leads me to conclude that the threat of a political crisis is overblown.Since you yourself have traveled to Bolivia, you probably have a better understanding of the minds and culture if the indiginous indian population that represents the majority.I choose to let the bashers have their day in the sun. It is he or she who laughs last that counts.
Read your 4 points of potential risk and I have a different viewpoint. 1. Its in Bolivia is a plus since it gives the company the ability to make corporate alliances not available to foreigners. Jaime is after all a repected Bolivian with deep consanginity.2. The Morales is a nut comment is undeserving. What do you know about him?We do know he was democratically elected and is trying to help his people. In his country he is a patriot. I also believe the strides fmnj has made is partially due to good relations the company has with the government.3. The fear of a chief executive dying is a low risk and one that no one has control over. I hate to tell you but we all will die no ifs about it only when.4. A new goverment taking over is a risk to be considered and I will be monitoring polls and newspapers when elections occur. I also am concerned about Jaimes friendship with Chavez who I would agree seems to be a nut ,to use your term,who appears to be intent on undermining the political structure of Venezuela and its neighbors.Finally, your references to your sizeable stock holdings gives little comfort that your comments are particularly prescient and seems to smack of braggadocio. I know you got involved in this company under a different regime when it was controlled by your namesake. Using a scamsters name as a moniker smacks of bad karma to me;however, it is a reminder to the unwary that many of these companies are controlled by frauds and outright liars. Look at sulja bros as an example. Sljb was a big pink sheet favorite and star run by shady individuals. My opinion is that the management here are honorable people trying to build a great company. My bet is that they succeed. Nice to see your input back on the board and I hope you do not take umbrage at my disagreement with your position. BTW what do you think of Ms. Texas and FA's comment of her taking a new alias. I think she is great and a welcome addition to the board.Can't wait for next week as the January startup should generate some news that will encourage new buyers and higher prices.
The rain in Bolivia lies mainly on the mountains. I think you got it. By George you got it. Now once again Trueheart, where does it rain......don't rain on my parade. With much appreciation to the late great Rex Harrison, Babara Streisand and a smart gal from Texas. Lighten up dude.
Bravo
How would you feel if Saudi Arabia owned oil fields in Texas. That is why fmnj has a subsidiary known as Bolivia Mining. The days of imperial powers and their political cousins the multinationals are on the decline in many places in the world and their foremost decline is in South American countries such as Bolivia, Venezuela and Bolivia with Brazil in the background.Who would you like to see prosper if you were in power, the foreigner or the US native.Refresh my recollection. Jaime Malgejero was born where? And his family has been active in what country? If you keep listening to those who go Wow, when the hear of a 6 fold tax increase, and cheer on any turmoil in South America to scare investors, you will be making a big mistake in my opinion. You can't trade a stock like this since the bid ask range of 15-20% when it is inactive at 1 - 3 million shares a day, make trades nearly impossible. If you are in at 2-4 cents average, you should be able to make good money when the stock moves on news. The risk reward here is high and if you believe the stock will be sub penny with all the business developments it made in the last year, you are delusional. This will be my last post for awhile but just wanted to get this off my chest and hel[p those who are confused by the BS presented by people who DO NOT own the stock.I have a big problem with people who suffer from Schadenfreude at this stage of my life. You can look it up in your Wikipedia.Good luck and mark this post down January 9 2007 and close of a penny and a half. Good night and good luck .
Just heard an interesting interview of Scott Lamb IR guy for Coeur d alene mines, the largest silver producer. He stated that their San bartolome mine in potosi will be fully operational by the end of 2007 and is their most exciting property with estimated reserves of 152 million oz. of silver. They expect to produce 9 million oz. the first year. They are also finishing completion of a $30 million tailings plant. This is encouraging since it show that the largest mining company is not scared off by the supposed turmoil in Bolivia and the threat of high taxes and nationalization. The interview can be heard on WallSt.net. The fact that they feel the tailings facility is important leads to further encouragement that fmnj is apparently on the right track.I await news from the company as to when they expect the pilot plant to be operational. Their initial estimate was for a month for startup to build the plant.
It sounds like we will soon have a silver and gold mining company. If the company can generate enough revenue to begin cerro rico this year, the market cap should more realistically reflect the true value of this company. I am getting excited about this investment as the business plan moves to realization.
ok here is the raw data on competing compnies operating as silver producers in Bolivia. Apex mining,SIL,has a current market cap of 839 million and its trading range is 12-27 with current price at 14.37. Coeur d alene ,CDE, has a current market cap of 1.24 billion and a 12 month range from 4-7 with current price at 4.41. If my math is correct fmnj is trading at only 5% of sil market capitaliztion. A similar market valuation for fmnj would lead to a price of between .30 -.40. To reach CDE the company could support a price of .50. Both of these companies, like fmnj, are at the bottom of their range as this year starts.
Good find stockobserver. It is interesting to note that the article lists the companies with the largest known silver deposits in descending order. Remarkably Fmnj is number five on the listwith the caveat that the company can move up or down on list once actual production commences. It is saying, in effect, that Franklin controls the 5th largest undeveloped silver cache in the world.The trick,of course, will be for the company to obtain the capital to start production. It is also evident that the tax increase is no big deal. In fact,it may have a calming effect on the companies as the government seems to be moving away from the nationalization policy that scared investors when announced on May 1,2006. Apparently only two other companies are operating in Bolivia in silver industyare Apex mines,SIL,ase and CDE,Coeur d alene, CDE,nyse. I am going to check their market caps to get an idea of the current potential for fmnj.Thanks for the good work.
when did you buy in March 15, the ides of March, when Caesar was assassinated.My next least favorite date is april 15, when it is time to pay the IRS for all the money I made on FMNJ.