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I won't say that this is a legit/valid company (anymore, you gotta do something first), but i don't think this is a scam. I think that travesty of it all is that they have 14 billion shares along with many other circumstances that are working against them.
...Just because it is an absolute bottom doesn't mean you are guaranteed to make money.
A lot of the same stuff... 8 viens/tunnels...1000 tons of material...Optimistic...1st quarter ready for a sales level...100 ton pilot plant to be delivered and New trucks identified? 2 - 15 ton trucks (they should've been delivered already) and a compressor, good to go in 1909 i mean 2009...website soon. argentina and south america moving forward...texas wells looking good after the 1st drill a couple? I thought they already had oil sales just waiting for sec..................
I mean Tony even has an account...
well done sir...your due diligence is very much appreciated and if there is a PR put out another hand to you.
Not one mention of a truck being delivered to the mine or how the construction of the processing plant is going. It sounds like the only good news that could possibly come out of the argentina deal is that Franklin Oil and gas was bought out by some company.
SPS - Are you saying you lost "faith" as well?
It was only a matter of time...14 billion
Hey you still got 2%
I just talked to Franklin's PR manager they wanted me to tell everyone that they are changing their mission statement to "Good news tomorrow" as a way to get investors on the edge of their seats.
Has anyone called?
The good news...Franklin's pending contract for constructing a GTL facility in the Province of Tierra del Fuego, Argentina.
I was hoping to hear "We have recieved our 1st Volvo Truck on ___, 2008."
Since Tony won't be here to say it "more of the same"...Its really unfortunate that he's banned.
SPS,
Thanks for the update, however you mention their breathing habits, if they PR about every time they breathe in it would be nice every once in a while to here them exhale, so I too can stop holding my breath.
You haven't been wrong on this stock? You were wrong on one of your posts from friday...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33736745
It depends on how many coochie girls are working on it.
grundle, i mean bundle...i'll give you credit today ended with those 4s...
I would have to agree with nvestn4newshooz...It would also show that management has the ability to come through on their PRs (and get Tony to shut up) even though the website itself may be an assistance to the smoke and mirrors.
did you ask about the website?
royal,
why does the bid and ask fluctuate when the market is closed...bid = .0002 ask = .05?
It would be surprising if that were true...why would Franklin add another team member if they weren't getting closer to the GTL/gas contract and financing.
Date: October 19, 2008
From: The Office of the President
To: Franklin Mining, Inc. Shareholders
Last week’s Memo (headline State of Affairs, Part II) has generated
so many questions concerning financing, I think it is important that
I depart from my original schedule and address those questions
directly … our oil project in Texas will be still be discussed
in State of Affairs, Part III..
“How does Franklin intend to
obtain necessary funding?”
As you know, Franklin currently has three major projects underway,
1. The Escala Mine in Bolivia
2. A gas-to-liquid opportunity in Argentina
3. An equity investment in an operating oil field in Texas
Background on each project’s capital requirement and potential sources,
The Escala Mine:
Our September 2007 COMIBOL joint-venture agreement was partially based on a minimum first year’s capital investment. Franklin exceeded the contractually required investment by 50% and recently announced an ambitious commitment of another $1.6 million capital for Escala.
We’ve spent the past thirteen months readying the Escala to resume full-scale operations. A major part of the process has been multiple sample studies including laboratory analysis. To date, each report we’ve received has indicated Escala’s potential value is greater – possibly, much greater – than indicated by the COMIBOL studies reviewed in 2007. Our final laboratory analysis evaluating the Escala’s precious metal content is expected to be completed by Canada’s SGS Lakefield Research Limited in about a month.
The importance of the multiple earlier studies was preparatory to the analysis we are currently awaiting. This final analysis will guide Howard Dunn, Vice-President of
Operations for International Mining, as he works with the Escala’s Engineer and Geologist and with Franklin’s mine consultant, Paul Baker, in configuring each of the five to six processing plants we will be erecting at the Escala as part of our expanded capital plan.
Earlier studies assisted in determining which plant we intend to purchase. Those same studies confirmed locations and estimated quantities of silver, lead, zinc, gold and copper. With the final precious metal evaluation in hand, Mr. Dunn and his team will make their final decisions for configuring each processing plant for maximum recovery from individual areas of our 500 hectare concession.
The smaller plant we’ve selected provides several advantages over the more traditional approach of erecting a massive (static) processing plant:
ü First-plant’s first-day capital cost is much more manageable … the manufacturers cost of each “new” plant is $200,000; transportation to the Escala is estimated at $50,000; and on-site erection cost has been quoted at $50,000. Total capital expense, each plant: $300,000 USD ±
ü With an estimated 700 tons of product on the ground and seven tunnels ready for further Silver, Lead and Zinc exploitation and recovery … cash-flow begins the day the first plant is erected and operating.
ü With an additional ten tunnels available to be made ready, multiple plants will be required for full recovery of known Silver, Lead and Zinc.
ü With gold having been identified in multiple locations, each of the same advantages continue to be realized when we move in that direction.
ü The smaller copper quantities can be added to our processing capability when economically advantageous to do so.
At present, I have proposals for single-plant purchases before two separate capital sources who’ve tentatively offered a lease-to-own agreement where Franklin shares net revenue from precious metal sales on an 80/20 basis until each plant’s full cost has been recovered at which time, the sharing ratio will revert to 20/80.
As you can see, the advantage of this lease-to-own agreement is that Franklin would rather quickly recover the full cost of each plant and then own the equipment without having had to negotiate outside capital or incur debt. A third option under consideration is traditional long-term debt financing from an international financial institution with a stated interest in South America, specifically in the mining industry.
In all three instances, the final report from SGS Lakefield Research will determine final terms and conditions of the two options.
My decision and recommended board action for financing the Escala’s capital expansion should be announced within about six weeks.
The gas-to-liquid opportunity in Argentina’s Tierra del Fuego Province:
Like I said in my State of Affairs, Part II Memo, what we have here is a
Massive Challenge, Great Opportunity
Securing the financing for a GTL plant in Tierra del Fuego is becoming a much easier task than what we’ve been facing with the Escala. And for multiple reasons,
ü There’s no requirement for multiple studies or laboratory analysis.
ü Both the quality and quantity of the natural gas that will be converted to liquid fuel is known.
ü Availability of the natural gas is guaranteed by the Provincial government.
ü Because of the size and scope of the project, we have the option of offering equity positions in exchange for all or part of the required capital.
ü There is an established financial market for syndicating the balance of the necessary funding without further equity dilution.
ü There is an established local market for delivery of the processed petroleum fuel products Franklin’s plant will produce.
At this time, my search for financing the GTL plant includes
An initial presentation before a financial institution experienced in the sale of bonds for programs of this magnitude. The presentation was favorably received and our discussions are ongoing,
A preliminary presentation before a potential equity partner capable of delivering an investment of this scale and experienced in the industry. This presentation was also favorably received and our discussions are continuing.
Ongoing discussions with a European bank expressing an interest in funding 100% of the project’s total cost at five points over five years with a four year holiday on repayment at 8.5% interest.
Preliminary meetings with two financial institutions experienced in syndicating the financing of projects of the scope and scale of our planned facility.
Finally, last week I completed negotiations with one of the world’s most respected specialists in GTL plant design, specifically the Fischer-Tropsch-based technology intended for use in Tierra del Fuego. Further details concerning our relationship with the newest member of Franklin’s team of consultants will be made available with a few days.
Once again, please allow me to sign-off with a reminder that I will discuss our Texas oilfield investments in similar detail in my next Memo, State of Affairs, Part III.
Sincerely,
William A. Petty, CEO
P.S. To follow-up on another housekeeping note, please be sure to go to www.FranklinMining.com and use the “contact info” screen under the Investor Info Center pull-down tab and provide a current e-mail and/or street mail address. Our new web-site will soon be available and I plan to make a greater use of e-mail in communicating with Franklin shareholders.
State of Affairs, Part I
Dear Fellow Shareholders,
I have been back in Bolivia for three weeks and will be in Argentina next week. As you know,
these are exciting times for our company – we have so many good projects, so much
opportunity. I want to use today’s Memo to bring you up-to-date on our mine in Bolivia and
will address the issues of gas and oil in the next Memo.
Our Escala contract with COMIBOL was consummated September 19, 2007 and within
weeks, we began cleaning up a mining site that had been dormant for 12, 13 years. The basic
infrastructure of several tunnels (or shafts) and a base camp was in place but had been neglect-
ed for more than a decade.
When I was in La Paz earlier in the month, I spent a couple of days with Jaime Arancibia
(General Manager of our mining subsidiary in Bolivia) and many of the senior members of his
staff. Dr. Arancibia and his team are the guys that tackled the task of reestablishing Bolivia’s
historic Escala Mine.
Despite delays in reaching some of our goals, I continue to be pleased with progress made at the
Escala – it’s been a long, hard year but we’ve succeeded in reopening this once abandoned
project. And we’re now ready to move to the next level: to bring the mine to full operation. In my
opinion, Escala represents an opportunity that is even greater than I originally envisioned. And
we’ll get there by continuing the work of re-developing our mine in a logical, methodical manner:
>>> Paul Baker has rejoined our team of consultants and begun the process of reviewing the
design specifications for the Escala’s proposed processing plant. Paul is experienced in mining in
Bolivia and other South American countries. As the holder of a patented plant design, he is also
uniquely qualified to evaluate our design.
>>> The plant design under consideration has a planned initial daily capacity of 100 tons,
expandable to 200 tons daily.
>>> Subject to the final plant design, the capital budget for Escala’s second year is pro-
jected to reach $1.6 million.
Because of the high degree of confidence I have in the budget prepared by Dr. Arancibia and
his team together with the confidence I have in Paul Baker’s ability to design a plant adequate
to our needs and within our budget, I have begun discussions with a group of three lenders to
obtain project financing for these capital improvements.
Through September 2008, Franklin has invested a little more than $300,000 in preparing the
Escala for redevelopment. Our September 2007 commitment to COMIBOL was a minimum
$200,000 investment during Phase I of the project. Despite the difficulties of the last few
weeks, Bolivia’s mining sector has continued moving forward and I look forward to
strengthening Franklin’s relationship with COMIBOL and Cooperativa Minera INTI.
And I look forward to Franklin becoming a larger and more integral partner in Bolivia’s rich
and historic mining industry.
Mining is an integral part of Bolivia’s history. Lead, zinc and silver have been mined in the
Sud Lipez Province, Department of Potosi since the Spanish colonial times. Our
Cooperativa partners are the mining families who’ve worked in and around Escala for multiple
generations. Franklin is not at Escala to “reinvent the wheel” – we’re here to provide the capital
and technology needed to restore the Escala to its proper place of mining productivity.
Once our processing plant is fully operational – 200 tons per day – the Escala’s daily operating
cost will be about $2,500 and will generate an estimated $10,000 per day gross revenue based
on today’s market. Under terms of our September 2007 agreement, the Escala’s gross profit is
shared by COMIBOL (30%), Cooperative Minera INTI Ltda (20%) and Franklin (50%).
The economic importance of mining in Bolivia cannot be understated. Total exports in 2007 just
released by the Ministerio de Mineria y Metalurgia include (US$):
Zinc $691,730,563
Silver $213,516,520
Tin $173,110,907
Gold $122,412,451
Other North American companies also recognize the opportunity for investing in Bolivia’s mining
industry.
>>> Apex Silver (The San Cristóbal) and Couer d’Alene (The San Bartolomé) have each spent
years developing their projects.
>>> Canada’s Pan American Silver has a major project pending at The San Vicente.
>>> Canada’s Atlas Precious Metals has just announced an agreement to open the
Karachipampa polymetallurgical processing plant by February 2009
>>> … other pending initiatives are being reported by BNAmericas to represent total
investments of roughly US$300 million.
The largest investment planned in Bolivia … an eight year, US$2.1 billion
project to develop and industrialize 50% of the El Mutún iron ore deposit.
I know that if we were talking in person, you’d probably want to say “… all that’s great,
but what’s the bottom line for Franklin?” And I would probably answer “… well, our
Escala contract has turned out to be an extremely valuable asset that is very near to being
self-sufficient and will very soon begin generating a reasonably attractive return for our
investment and your patience. As I stated in my Monday, September 15 announcement,
our staff geologists and engineers have identified 25 commercially viable veins between
1.5 and 2.0 meters wide. Each of these 25 veins appears to be fully mineralized and
surface measurements indicate their horizontal extensions are about 2 Km.”
Before I conclude, let me assure you that I still plan to release a detailed assessment of
the Escala’s potential value by the end of this month. Our latest laboratory analysis
reports are in and will be posted on the web-site as soon as all internal reviews are
complete.
On a housekeeping note, we’re working on a new web-site and expect it to be
available in mid-October. I believe you will find the new site is well organized,
more easily used.
\Sincerely,
William A. Petty, CEO
Does Lord Pity just like not keeping his word - most recently wheres that newsletter than he keeps talking about?
from what i was reading and hearing this is applicable to financial companies...
that is the most asinine, illogical comment i have ever heard. Since when is any forum a place to comment w/o any some form of substance or truth (it just wastes peoples time and gets people pissed). To all those who produce constructive thoughts whether good or bad, thanks. And thanks moderators for getting rid of tony.
Escala Mine Exploration Continues to Reveal Potential Significant Increases in Extractable Mineralization
Monday September 8, 8:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Sep 8, 2008 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) Chairman and CEO William Petty confirms that Howard Dunn, PE, Vice President of Operations for International Mining, and Milton Flores, Staff Geologist, Franklin Mining, Bolivia, continue expanding their primary exploration at the Escala Mine. Mr. Dunn and Mr. Flores recently completed a week of field mapping and sampling with surface chip samples to verify earlier sampling and extend the sampling area both south and west-northwest of the current area of mining activity at the Escala.
"Samples collected during this last trip were submitted for analysis by Canada's SGS Lakefield Research Limited and preliminary reports indicate the Escala's mineralization has the potential to significantly increase the total extractable mineralization within our concession," added Mr. Petty. "Very high anomalous metal values of silver (47-100 g/t), lead (2-2.8%), gold (0.2-0.57 g/t), and copper where returned from three samples indicating mineralization 250-500 meters south-southeast of the Pattis adit and 500-1000 meters north-northwest from the Pattis Adit."
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
Franklin Hits Oil
Wednesday September 3, 8:30 am ET
LAS VEGAS, NV--(MARKET WIRE)--Sep 3, 2008 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) Chairman and CEO William Petty is pleased to announce that Franklin Oil & Gas, Inc. hit oil in a recently acquired West Texas lease.
Collectively known as the Waterflood, Franklin Oil & Gas has acquired 51% interest in oil and gas leases identified as Kessler, Graham and Camp Barkley. At present, there are 2 working wells on the Kessler lease, 3 on the Graham and 1 on the Camp Barkley.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
I would believe that no matter what construction takes places (if construction takes place) this will be done in phases. Bonds/financing are essiental, rather than cash flow from "mining" or "gtl". The cost of the infrastructure as well as construction cost will ultimately be to great for fmnj w/o a good support team. If this all goes accordingly we are talking about a small city (150,000 residents). This will take a long time before full build-out, no matter how fast we all want this to come to fruition...The good thing with all of this is that the government is supporting/backing this cause
Just Looking at etrade, on 8/1/08 Petty International had a planned sale for 5,000,000 shares
Franklin's Escala Mine Continues to Produce Zinc Content Five Times Greater Than Initially Reported
Monday August 11, 11:32 am ET
Preparations for Expanding Mine Operations Underway
LAS VEGAS, NV--(MARKET WIRE)--Aug 11, 2008 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) Executive Vice-President Fernando Infante returned to Santa Cruz, Bolivia on Friday, August 8 and met with Dr. Jaime Arancibia and his management team from the Escala Mine. This was Mr. Infante's first meeting with Franklin's Escala managers since receipt of SGS Lakefield Research Limited's July 17, 2008 Certificate of Analysis.
As previously announced, SGS's July report indicates silver values at 30 grams per metric ton, 2.1% zinc and 1.1% lead. Dr. Arancibia reports that samples required for a Level II analysis have been collected and prepared to be submitted to the lab.
Franklin's managers, supervisors and Cooperativa Minera INTI Ltda partners continue expanding the Escala Mine's infrastructure in anticipation of significant increases in daily production. A total of 54 blasts were completed during July as part of preparing two new tunnels. Preparations will continue through August with expanded production scheduled to begin in September.
Press Release
http://franklinmining.com/pressreleases.html
Franklin Endorses Letter of Intent to Construct
20,000 Barrel per Day GTL Plant in
Tierra del Fuego, Argentina
Tuesday, August 5, 2008 ~ for immediate release
LAS VEGAS, NV – (Market Wire) – Franklin Mining, Inc. (Pink Sheets: FMNJ – News; FWB: FMJ) Chairman and President William A. Petty is pleased to announce the signing of a Letter of Intent to construct a gas to liquid processing plant capable of producing 20,000 barrels per day of diesel fuel, kerosene and other petroleum products.
Miguel Angel Ferro, President and Director of FOMICRUZ, SE and Daniel Roman Banks, representing the Province of Tierra del Fuego, met in Rio Gallagos, Santa Cruz, Argentina on Friday, August 1, 2008, for the acceptance and signature of the Letter of Intent with Mr. William A. Petty on behalf of Franklin Oil and Gas, Argentina, SA.
Under terms of their letter, the Provincial government will provide a daily allotment of six million cubic meters of natural gas per day for the duration of the agreement. Franklin anticipates releasing full details of the agreement within ninety days.
About FOMICRUZ, S.E: Additional information is available at www.FOMICRUZ.com
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
DISCLOSURES: “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.’s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.
http://franklinmining.com/pressreleases.html
Franklin Executives Return to Buenos Aires
Tuesday, July 29, 2008 ~ for immediate release
LAS VEGAS, NV – (Market Wire) – Franklin Mining, Inc. (Pink Sheets: FMNJ – News; FWB: FMJ) Chairman and President William A. Petty, Fernando Infante, Executive Vice President, and Howard Dunn, Vice-President of Operations, International Mining, will return to Buenos Aires, Argentina on July 30, 2008 to meet with representatives from the Provincia de Tierra del Fuego, Argentina.
Mr. Infante and Mr. Dunn will present and discuss final technical recommendations for construction of a gas to liquid plant with engineering and technical representatives of the Provincial government.
Franklin Oil & Gas International SA signed a Letter of Intent on May 29, 2008, with Maria Fabiana Rios, Governadora, Provincia de Tierra del Fuego, to construct a GTL plant with an initial minimal daily production of 5,000 barrels per day.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
DISCLOSURES: “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.’s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website (www.FranklinMining.com) or contact our Investor Relations firm, A. S. Austin & Company, 702-386-5379.
Regardless, I'm just saying that Franklin might think about taking on another "hot" market to enhance their existing markets of oil, gtl, gold and silver. Plus they already have a Dr. on staff. Franklin is a "jack of all trades" if you will - except they aren't actually doing anything - as far as we all know. sorry for being facetious...one day GL
Well in that case; Franklin should sign an agreement or a MOU with a major pharmaceutical company. Maybe Dr. Jaime Arancibia could double as a MD.
Pretty quiet today. The calm before the storm?
What goes up must come down?? WTF
I don't mean to burst your bashing bubble, but did you stop reading after the first paragraph? In this PR (bullshit or not) it goes on to talk about the some of the stipulations...
Who sells 20,000 shares at .0003 for $6?
I believe it was 30,000 ounces