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The reason for the delay of the pulcayo tailings project may be found on the website under the aegis of Reception Pulcayo Tailings.Apparently the partnership joins franklin with a 51% position with the Rolando Mining Company and Centromin with 37% AND 12% respectively. As i understand it, Rolando, the company that originally mined the region ,have to sign a contract with Comibol before the project can proceed .I think the tailings are the waste drege material from the original mine that is now a ecological waste area that has to be removed. Centomin has the technological know how to get the plants built and Franklin is putting up approximately 1.5 million to fund the project which then will be profitable once recovery is under way.It is important to know the status of the negotiation between rolando and comibol.Also further reading of Jaimes filing to sell shares, I note that he has 90 day, mid January, to complete the sale before the filing becomes obsolete. I think he hopes to sell into an expected positive news event such as tailings commencement so the market can absorb his shares or he plans a sale to a fund after the good news is disseminated.I expect the company will have to give a status to shareholders soon. This news, if positive,should boost the price. The opposite is also unfortunately possible and the stock will react negatively. Being an opptomist and a beliver in this management, I have made a come bet. If we roll a seven or eleven, we can play the numbers. If we crap mout, it still has been a exhilerating ride.
what do you think when I sang out of tune
you want fmnj to go up so you can get out!! And it will go up because......Nothing they say is true; they have diluted the stock; they are potentially commiting fraud.And based upon your sage advice we should all: wait to sell at a higher price; sell now before our shares become worhtless; or buy more now since it is cheap at these levels.As you say maybe i am a moron since I do not understand your convoluted logic.I now have a new definition for the word opportunist in Wikipedia.
First of all Im not a moron. I used the word suggestion which is what you did in your fraud post so what are you taking umbrage at. If you still own the stock it is your intelligence that should be questioned by your bashing of this company.Again I ask you to answer the question as to what your agenda is here. Should we all sell while we can? I anxiously await your reply since you were smart enough to sell to a Fortune 500 company and are currently making a killing in the market.Thanks for your help. Maybe my IQ level is that of a imbecile or idiot.
OK I am convinced that this company is way overvalued at its present market cap. Are you the same guy who posted a series of market caps for mining companies that indicated that FMNJ was seriouly undervalued a few months ago when you owned the stock? I think you are a smart guy who posts according to his latest agenda. When I sell a stock, I do not have the arrogance to become a basher and get others to sell. You may recall I was a poster who initially said I appreciated your input as you are very knowlegeable in the silver market. Move on silverbars. you made your decision and what you or I post will not seriously alter the future of this company nor its stock price. We get it. NO tailings and serious dilution. Why are you and opportunist pounding away at the same boring info.My guess is that it will be very aggravating if you are wrong since the upside for this company is huge.
OK I am convinced that this company is way overvalued at its present market cap. Are you the same guy who posted a series of market caps for mining companies that indicated that FMNJ was seriouly undervalued a few months ago when you owned the stock? I think you are a smart guy who posts according to his latest agenda.
OK I am convinced that this company is way overvalued at its present market cap. Are you the same guy who posted a series of market caps for mining companies that indicated that FMNJ was seriouly undervalued a few months ago when you owned the stock? I think you are a smart guy who posts according to his latest agenda.
The new listing in London is not a replacement of the pink sheet listing but an additional market to trade the stock. Your suggestion that the company wants to be in less vigorous reporting markets to commit fraud is total nonsense. Bill Petty has stated that the company is conducting its disclosure as if it was a nasdaq company and is not using the more liberal pink sheet disclosure to disburse info to its shareholders. Maybe if you listened to the Petty interview you will change your opinion as to the potential upside in investing in this company. As to the failure to start tailings by November, I quote Forest Gump <Sh#t happens> .
Good theory but it doesn't hold up if you look at the numbers. The tailings release was Sept.12 at which time stock was .025. Since then price has meandered in the 02-025 range indicating that this was no pump and dump strategy. You dumped and if proven right can gloat then.You may also note the low daily volume average also does not support your thesis. Keep trying to get others to sell. As I said, many people suffer from Schadenfreud.To me it looks like the stock is being accumulated but what do I know.
very convoluted logic. What the investor is looking for is hard news of a commencment date for production to begin not some pr fluff.Your hope that the price falls so the company will come out with news indicates that you have lost faith in the fundamentals.The prior post by sunzu is a fair summary of what you are betting on with this company. We should know within 3 months if they are proceeding with a viable business plan.
If you think shares will be worthless or toilet paper, why aren't you selling your large position. Also, as an experienced trader, why would you try to instill selling in a postion you feel you want to sell? Your constant reference to dilution as a major factor in a stocks price is a simplistic approach that like most theories in stock analysis provides inconsistent results. I take it from your response to buy sell hold is that others should sell their stock before they lose it all but right now you are holding your LARGE position. No offense but I am starting to think you are being disingenuous.
the gtl projects in Bolivia Rio Grande and Colombia Ayo Ayo are still in feasability study and will not become a reality in at least three years if at all.There is some confusion as to the capitalization costs and plant production. My understanding is that the Rio propsal will cost 320-380 million and ultimately produce 10,000 barrels of disel per day. The small gtl plant anticipated for ayo will only produce 200 barrels a day and will cost 13 million. Hopefully that will permit it to self finance further costs of building a major plant. While in a very early stage, the legal instuments such as letters of intent and memos of understanding have been signed and the company has participated in public signing ceremonies. Obviouly the company does not have the capital to build these projects at this time but in three years the cerro rico project hopefully will be a major cash producing silver and zinc producer. At one time the company mentioned The Shaw group as a source of financing of the gtl plant. The company also has developed interests in Argentina. Immediate sources of revenue is the tailings project which was to commence in October and has been delayed. If this moves foward in the near future, the company will be on its way to profitablity and have money to commence operations in Cerro Rico. An investment here is a bet on the ability of management to make the business thesis a reality. If you think it is a crock or a scam, you should certainly not invest and if invested you should sell.Cosidering that the stock was a microcap trading at a fraction of a penny less than 18 months ago, the results to date in pps even at 2 cents is extraordinary. I believe the stock is a buy and have put my money where my mouth is. Good luck and Happy Thanksgiving to all.
opportunist or bullshitunist your claim that you sold your company to a fortune 500 corporation and your major experience in oil and gas doesn't make sense given your major concern for a 2 cent stock. You should be investing in big ny stock exchange companies more befitting a man of your stature and great knowledge. The basic business of Franklin is mining, hence the name. Are you an expert in that field too? Note your curriculum vitae here on IH is strictly this little overdiluted company. What is your agenda. Comments on boards such as these are supposed to help investors make decisions to buy, sell, or hold. So tell us great karnac what should we do. As a small investor I appreciate all your help in my investment decisions.By the by, your pronouncement tirelessly of a quote from the great Ronald Reagan is contra the business thesis of Franklin. This company believes in a sharing of wealth with the downtrodden miners. So tell us Buy, Sell or hold. Ina few months we will review the results of your sage advice.
trueheart- nybob has more of a historical sense of history than you my friend. Im sure he can give you references to confirm the accuracy of his statements.Why knock a man who believes that this company can not only make money for investors but will also help the poor laborere who have given their lives in the mines. The cynicism here is very troubling to me. Perhaps this is not the right investment for you if indeed you are still a shareholder.
sockobserver- What is the date and time of this release an where is ti published. thanks
why pick an arbitrary date. there are stocks that people own that should NEVER be sold. To make an decision woithout seeing what the investment thesis is seems arbitrary and capricious. this may be a company that will be another phelps dodge. ypou never know
why may 7. May dsay is may 1 DAY THAT WILL LIVE IN FMNJ INFAMY.
Looks like the stock wants to move higher. Level 2 guys can you tell me about mms on offer at 2 cents and above. i dont get level 2. thanks
good thought thanos. I try to avoid angry people since there negativity detracts from those things that make life important. Good health, family, and good friends are blessings which we should all give thanks. Best wishes to all. Imanjen
like president reagan said...there you go again. you are out of the stock so dont try to make others sell so you can buy back in at .003. you are afraid you were wrong but that is tough s###. Go on the siver board where you feel more comfortable. Ever here of a reverse indicator. Im buying big time tomorrow morning. we know the tailings are delayed but if you build it , they will come. Field of dreams.
a mass exit may drop the price or there may be a buyer to suck up your shares. only a masochist would hope to hurt himself to get even with what he perceives as management flaws. You have lost your way my friend.The question is whether or not Jaime and bill can execute the business plan. If they can, trust that it will be reflected in the stock price. again, like the silver guy, if you can't stand the heat, get out of the kitchen. I feel strongly that the future here can be extremely bright.
delray I guess you really are a bear. The pr guy only works for the company and the owner andy austin was on vacation and is returning on monday. the response was probably prepared by his helper who is a 19 year old kid. when you sell it doesnt screw the company since they so not benefit or lose on your sale.if you are upset and lost faith you are not comfortable and should sell. owning stocks sometimes cause emotional reactions. as a gambler i can tell you that a loss of control of ones emotions usually cause bad decisions. good luck to you my friend. by the way, please dont kill the messenger.The throw in the towell mentality signal shown by others here usually is a bullish sign for thoswe contrarians out there.Where is financial advisor when we need him.lol
thanks for your imput and informative posts about the silver market in the past. I agree with other posters that you are now getting annoying since you sold. Pror to selling on Nov2 you posted at the end of october that tailings have not started as promised. That and the turmoil of bolivia miners and uncertianty in nationalization plans caused you to sell. Now you hope stock falls apart and drops to .003 so you can get back in.As americano would say: go duck yourself. Have a good life. If you are wrong and the company succeeds as many of us still hope and believe, we will never hear from you. Look up the word schadenfreud. Then look in the mirror. Stock is a buy here at these low prices in my humble opinion.
considering the grief IR was getting from shareholders and disappointment in stock price, my guess is that this time two weeks is on the safe side. We can have some positive news soon and next week should be dead due to thanksgiving closures. Hopefully we will be servimg americanos duck and not a turkey surprise. Turkey has triptophan which causes lethargy and puts people to sleep. A famous stock trader Jessie Livermore warned that the worst move is to lose your position in a company and then see it make a big move. I urge all long term holders and belivers past and present to hold for the shot. Excellent risk reward ratio here at these prices. May even nibble for some more during 2 week hiatus.
The news today is an update on the progress on the start up on tailings project. Company had hoped to commence operations by end of october subject to the analysis of 3 tons of ground up ore to determine and reconfirm previous estimates. Apparently this review has taken a little longer. It makes sense not to invest in a production facility until you know how much potential the project has. Hopefully the news will be good in two weeks and the market will get excited to learn that soon this company will be making money.The fact that Jaime and Bill are in South America trying to make deals shows this is a hardworking board who are trying to build a great company. Again this investor appreciates the effort to keep shareholders in the loop.
the eyes of texas are upon us.
longhorn- Thank you for your comments in your private reply.I agree with your analysis of the current political uncertainy in Bolivia affecting the stock. I still believe that Jaime's intention to sell 20 million shares may be viewed in a positive light. As you know, with the current average volume around 2 million shares per day, it would be difficult for one to buy 20 million shares without causing a .01 -.02 rise in pps. Most likely these shares will be sold privately at a price based upon an average of the close over a set period of time. This may be causing a overhang on the price. The real important info is who is the buyer if this is a private transaction. To be invested significantly here, which I am, you must answer the question as to whether you trust and in Jaime and bill petty. I have evaluated this and believe that they are genuine entrepeneurs who think they will be successful in building a strong mining company. The risk rewaed potential here has caused me to make a value bet. I believe you should consider adding to your position since missig the big move can be psychologically very damaging if this thing flies. A hedge before the 15th would mot be out of order. If not, just know I respect your stated position.
The lack of recent news on tailings is troubling as as the curt answer the IR guys gave to a poster here. Sorry for the turmil caused by the jaime filing to sell. My friend read it to me again on Dow jones news, you have to subcribe, on a n0v 3 report. It clearly stated that they hope to have the transaction concluded by nov15. I hope we can get good news before then so the buyer will be happy. Stock has been flat for a few weeks so I guess noone knows. good luck.
americano- Im surprised with all the geeks on this board no one could find the filing. while I am computer illiterate and can barely turn the damn thing on, I do have a broker who advised me of the insider intention to sell. I believe it can be found under dow jones business wire but not sure of the exact url. I told another friend and he also accessed the report. I am highly offended that you suggested that I was making it up. As for your anti dilution comment, I am mystified as to your conclusion. The fact that Jaime is selling his own shares as opposed to sale of shares out of treasury which is dilutive means that Jaime gets to keep the money. Sale of shares out of treasury produces proceeds that is used by the corporation. I tried calling andy austin but only got the usual voicemail. Maybe you can be more successful. I still believe that very positive news will be released soon and that someone is accumulating stock in anticipation of this event.
On nov3 fmnj filed sec form 411 setting forth the intent of jaime to sell 20 million personal shares by nov15. In my opinion this insider sale is a possible indication of some major news coming so that this transaction can be completed on a high volume day on upticks. It is also possible that this will be a private transaction to give an investor, instituion, or government agency eg. comibol a chanse to get a stake in the company. At 3 cents jm would raise 600k and he deserves it. Im sure he has many more millions of shares beneficially owned. Maybe jaime needs the money to make a nice bar mitzvah for his son hymie. I think big news is coming soon.
post #11,ooo. current price is .020 and not much action in the stock for the past few weeks. As the pr people have advised americano steve this company will be addressing the status of the tailings project soon. hope the news is good as the price stall is discouraging. wonder where the pps will be at post # 12,000.
REread the tailings pjoject on website and noticed that company is evaluating mineral content and recovery rate beore it goes foward with the plant. That does leave open the question as to what co. will do if mineral content and/or recovery rate do not fall within expectations and the appropriate profit for the company. Hope their is a plan b if they do not proceed with tailings. Hoping the company has resort to bank loans and possibly a second offering or spin off as suggested here to raise the needed capital to start cerro rico production. please do not tell delray where i live.lol
please knock it off boys. posts are supposed to be informative. This is getting a little childish. If you have an different opinion, it would be better to express yourself without diatribes.Surprised the censor has permitted this nonsense.a little news from the comapny this week may help alleviate the tension.
I am surprised at the unwarranted criticism certain posters have about the information this company has provided to investors. The level of info is like that of a reporting nasdaq company and well above the average pink sheet. October is not yet over and some have been whining for weeks about a start of tailings projected this month.It appears the company and the political climate in bolivia are now at crucial junctures. lets hope the gordon gecko thesis that greed is good wins out here for the sake of good old fashioned capitalism. Have a feeling that we will have an update on the projects shortly and then there will be something else to bitch about. The trend is your friend and I say it is up.
trueheart- if you believe the cerro rico is depleted, why are you in this stock?
try going on the website and punch up tailings project. thats who says.
the tailings project set to commence after the assay analysis of three tons of material to estimate potential content of ore. this is a conservative approach before the company undertakes the leasing and or building of processing plants. If the assay is positive, I expect we will hear an update on the project. Patience is difficult for most investors including me, but I would rather the company get it right than move too hastily. Meanwhile the stock looked like it was under nice accumulation this week.They dont ring a bell so you have to be prepared for a big move without warning. I still think this is a sincere, intelligent , hard working management team that has put together an impressive business plan with emphysis on good relations with the bolivian government.We shall see soon if their hard work and the confidence of the investors will pay off.
As i recall the 6 million cost to start production at cerro rico is to be generated by the cash flow from the tailings project. The fact that the release refers to the schedule to start production at approval in Jan07 leads me to believe that the tailings project is in fACT on schedule for this month. . I believe this announcement will bring a lot of new buyers into the market. Hope for a treat rather than a trick as Halloween approaches. Expect news will be proceeded to a move above three cents soon.Company contiues to build credibility which bodes well for future confidence amongst investors.
interesting article. looks like the end of october can be a very important time for bolivia and fmnj.i dont think anyone has a firm handle on what will happen. you gotta be in it to win it.
not so sure. went to .023 bid and didnt hold. something feel funny here. hope it is positive.