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Franklin Oil and Gas interested in investing in the North of La Paz
http://translate.google.com/translate?hl=en&sl=es&u=http://www.cedla.org/obie/articulo/artic...
Franklin Oil and Gas interested in investing in the North of La Paz
The Newspaper
Apolo - Asariana (the NEWSPAPER) (sent special Rolando Flores Sotomayor). - Verified the existence of hidrocarburíferos deposits in the province Fránz Tamayo of the department of La Paz, and prevén millionaire investments that will promote the development of the department.
In addition, also the existence of 80 indigenous communities in the region of the North was stated paceño.
The information was provided by the prefect of the department, Jose Luis Walls Muñoz, who made a visit to the region of Apolo, more concretely to the locality of Asariana in the margins of the Tuichi river in the North paceño, where as NEWSPAPER 2 informed the past into August, comunarios of the place announced the existence of more of a petroleum deposit.
The existence of this deposit motivated to the prefect Walls Muñoz to arrive until that place in company from Jaime Melgarejo Rendente general manager from the oil company Franklin Oil and Gas Bolivia, interested in investing in projects of exploration in all the region of Apolo and the province Fránz Tamayo.
INVESTMENTS
“This company (Franklin Oil and Gas Bolivia) has interest to invest in Apolo more than billion dollars in exploration workings”, informed the Prefect into La Paz to clarifies that this process will be part of a licitation that it will have to send the National Government.
On the other hand, the manager of Franklin Oil, Jaime Melgarejo, affirmed that the investments that the company makes will be on the basis of the studies that will define the amounts of the investment.
“First we came to know the zone and will be the study that defines the investment”, it said in time of clarifies that first it is precise to negotiate with the Government, to adjudge the licitation and soon to know the conditions for the beginning of the operations.
In criterion of the Prefect, now the investments that can be made in the matter of exploration and hidrocarburífera operation in the North paceño will depend on which the authorities of Oil field Fiscal Bolivians (YPFB) and the national Government the companies interested in investing in these deposits define the volumes of investment through the call to a public licitation where participate and they are adjudged.
Certified the petroleum existence, which comes is to determine the existing volumes, this information will give a clear image of the benefits for the department, because the income and the exemptions of the region improve.
ASARIANA
If arriving at Apolo it requires 14 hours of trip, to Asariana it implies another trip of 5 hours. The petroleum existence in this zone dates from year 1970, nevertheless, “is the first time that a commission arrives until these places”, were the surprised words of comunarios of this remote place located in the Apolobamba park.
By the information of the own comunarios, the deposit is in the Maravilla river, reason why it is necessary to sail two hours by the Tuichi river stops to walk 1 hour by the mount there until arriving at the precise place where the referred deposit was discovered.
PROTECTED AREAS
According to the information, all these hidrocarburíferos deposits are in an extensive protected area, well-known like the Apolobamba Park of which also the North comprises paceño.
The Law of Environment establishes that in the zones considered like natural reserves, wood operation works of or natural resource is not allowed, this situation would prevent the exploration, operation and other actions in these deposits.
Consulted on this situation to the prefect of La Paz, Walls it explained that it is a subject that will be precise to solve with the National Service of Protected Areas (Sernap), nevertheless assured that these deposits are in the edge of the park in the North Andean Sub.
Nevertheless, the mayor of Apolo, Alexander Huanca, assured that the deposits are within the area of integral handling of the Apolobamba Park, reason why yes these natural resources can be exploded.
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Development of the North paceño requires millionaire investment
The Newspaper
Delegation of journalists that visited Apolo next to the Prefect.
Asariana-Apolo, (Rolando Flores Sotomayor, special envoy of the NEWSPAPER). - A study of the hidrocarburífero potential in the province Franz Tamayo of the department of La Paz will define the amount of investment that will be required for the petroleum operation in that zone, Jose said to the prefect Luis Walls Muñoz.
The authority esteem that the amount of investment that will be required, will be approximately 1,000 million dollars, due to the existence not only of one, but of several petroleum deposits that were discovered in the zone.
“The company Franklin Oil and Gas Bolivia, has interest in investing 1,000 million dollars in exploration, nevertheless, this supply will be able to be made reality only through a licitation”, affirmed to Walls Muñoz.
The information on the existence of more of a petroleum deposit to earth flower, promoted the interest of the referred oil company, whose general manager Jaime Melgarejo Rendente, was transferred until Apolo.
Hull that is used to sail in the mighty Tuichi river. (Photos Alberto Valero)
The NEWSPAPER visited Asariana, place to which is arrived after sailing two hours by the Tuichi river, in hull, until the site known like “Wonder”, where is the first petroleum deposit. According to information of the own settlers, it would exist more of a hidrocarburífero deposit in the Kerosen river, located to a day of trip on the back of mule from “Wonder”.
The deputy Jorge Suárez member of the Parliamentary Brigade of La Paz, explained that in the following days he will present/display a report on the petroleum existence in the zone of Apolo, in addition will ask for the Government who takes ahead the process of public licitation so that the North of La Paz is integrated to the economic circuit of the country, from the operation of this natural resource.
MORE DEPOSITS
Information provided by Jose Luis White Walls in Beni Stop, Woods, Tacuaral, Bulging I, Bulging II, Liquimuni and Hondo river in San Buenaventura, would be the other zones where petroleum exists.
Spanish Version -
http://www.lostiempos.com/noticias/14-08-06/14_08_06_ultimas_nac16.php
Confirmada la existencia de petróleo en el Norte paceño
14-08-2006 - 18:55 h.
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La Paz | ABI
Una travesía de aventura en las márgenes del río Kerosene del Municipio de Apolo, norte de La Paz, confirmó las sospechas de propios y extraños: hay petróleo en Apolo.
El “oro negro” inunda con su olor toda el área, verificaron los visitantes paceños, en tanto que un campesino sujeta un envase de plástico con el líquido grasoso y negro para mostrar el hallazgo que podría convertir a toda esa región en una de las más prósperas del país.
Ya en la sede de Gobierno, la empresa norteamericana Franklin Gas & Oil expresó su interés de trabajar en el norte de La Paz, para explorar petróleo y mejorar la calidad de vida de sus habitantes.
Junto al Prefecto del departamento de La Paz, José Luís Paredes, los empresarios ofrecieron este fin de semana una conferencia de prensa para expresar su voluntad de invertir en la exploración y explotación de ese hidrocarburo.
Representantes de la empresa Franklin Gas & Oil dijeron que ya se realizó un estudio que si bien verifica la existencia de hidrocarburos en el norte paceño, amerita que se emprendan trabajos.
No obstante, el experto Enrique Mariaca, expresó que sólo la estatal petrolera YPFB debería hacerse cargo de la explotación de ese energético y que de ninguna manera el descubrimiento es nuevo, puesto que en la década de los años 70 y 80, YPFB ya sabía de la existencia de ese recurso natural, no renovable.
Tal como estaba establecido, este fin de semana, una delegación de la Prefectura del departamento de La Paz, junto a técnicos de la estatal petrolera YPFB y periodistas de distintos medios, se dieron cita en el Municipio de Apolo, ubicado en el Norte de La Paz.
Los periodistas recorrieron el río Tuichi en una precaria embarcación construida por los pobladores de la zona que acompañaron la misión, gracias a su dominio del área pudieron llegar hasta el río Kerosene para dar con el hallazgo.
El olor a petróleo es fuerte cerca de la zona donde un líquido pesado da señales claras de la existencia de petróleo.
News - Confirmed the petroleum existence in the North paceño
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14-08-2006 - 18:55 h.
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La Paz | ABI
A passage of adventure in the margins of the Kerosene river of the Municipality of Apolo, north of La Paz, confirmed the own and strange suspicions of: there is petroleum in Apolo.
The “black gold” floods with its scent all the area, verified the paceños visitors, whereas a farmer holds a plastic package with the greasy and black liquid to show the finding that could turn to all that region in one of most prosperous of the country.
Already in the seat of Government, the North American company Franklin Gas & Oil expressed his interest to work in the north of La Paz, to explore petroleum and to improve the quality of life of his inhabitants.
Next to the Prefect of the department of La Paz, Jose Luis Walls, the industralists offered this weekend a press conference to express their will to invest in the exploration and operation of that hydrocarbon.
Representatives of the company Franklin Gas & Oil said that already a study was made that although verifies the hydrocarbon existence in the north paceño, amerita that undertakes works.
However, the expert Enrique Mariaca, expressed that only state the oil YPFB would have to become position of the operation of that power one and that of no way the discovery is new, since in the decade of years 70 and 80, YPFB already knew of the existence of that natural resource, nonrenewable.
As it was established, this weekend, a delegation of the Prefecture of the department of La Paz, next to technicians of state the oil YPFB and means journalists different, met in the Municipality of Apolo, located in the North of La Paz.
The journalists crossed the Tuichi river in a precarious boat constructed by the settlers of the zone who accompanied the mission, thanks to their dominion of the area could arrive until the Kerosene river to give with the finding.
The scent to petroleum is strong near the zone where a heavy liquid signals clear of the petroleum existence.
It was today. I posted the link.
Oil in a Bolivian City - Can you believe it, billion dollars in project? Where do they have so much money to invest ?
http://www.plenglish.com/article.asp?ID=%7B0F447779-D0F5-4133-9113-A7126EBECF14%7D)&language=EN
Oil in a Bolivian City
La Paz, Ago 15 (Prensa Latina) Academic research, specialists reports and even expeditions by journalists have confirmed the existence of oil north of La Paz, first suspected in the 70s and 80s.
Expert Enrique Mariaca asserted that State-run YPBF (Yacimientos Petrolíferos Fiscales Bolivianos) should be in charge of the energy that sprang up spontaneously on the banks of the Kerosen River.
Opposition party Gov. Jose Luis Paredes noted the interest of US Franklin Gas Oil to exploit the oil vein, and Jaime Melgarejo, representative of the company, said it is disposed to invest a billion dollars in the project.
Although the exact quantity of oil is unknown, the discovery could turn the region into one of the most prosperous in Bolivia, according to several specialists.
Local residents were recovering the oil for the last two weeks, according to a report of Greater San Andres University.
A group of journalists accompanied delegates in a four-day trip that included the La Paz governor and YPFB directors to verify the existence of fuel in the area of the Kerosen River.
Bolivia, Jindal to Split Mine's Profits
http://www.chron.com/disp/story.mpl/ap/fn/4117074.html
Aug. 14, 2006, 9:48PM
Bolivia, Jindal to Split Mine's Profits
By CARLOS VALDEZ Associated Press Writer
© 2006 The Associated Press
LA PAZ, Bolivia — Bolivia and India's Jindal Steel & Power Ltd said Monday they will evenly split the earnings from an iron mine in the South American country's eastern jungles.
Bolivian Planning Minister Carlos Villegas told a news conference announcing the preliminary accord with Jindal that the Mutun mine, on Bolivia's border with Brazil, could earn US$400 million (euro314.5 million) annually after three years of development.
In June Bolivia awarded Jindal the development rights to the Mutun mine.
President Evo Morales will sign a final contract with Jindal next month in the border city of Puerto Suarez, where residents have waited more than three decades for the long-proposed mining project to become a reality.
According to the agreement, Jindal will use the iron ore to produce steel and other metal products at plants to be built in Bolivia.
Villegas called the Jindal agreement a "historic act" in the industrialization of Bolivia, which despite its rich mineral resources remains South America's poorest nation.
The rich Mutun deposits have long been coveted by international firms. Last year, Brazilian mining company EBX Siderurgica Boliviana began operations in Puerto Suarez without the Bolivia's permission. Morales banned EBX from Bolivia in April, prompting local residents to block the city's only highway in support of the company, which had hired 600 local workers.
Jindal Vice President Vikrant Gujral said Monday that his company planned to invest more than US$1 billion (euro790 million) in Bolivia over the next eight years, including projects to improve the health, education, and water system for residents living near the mines.
Jindal's contract will require the company to maintain its Bolivian operations for 40 years, Villegas said.
Jindal had first filed a claim on the Mutun deposit with Bolivia in June, a month after Morales nationalized his country's oil and gas reserves. The deposit is estimated to contain some 40 billion metric tons of iron and 10 billion metric tons of manganese.
Gas Nationalization Setbacks Feed Doubt
http://www.chron.com/disp/story.mpl/ap/fn/4116200.html
Aug. 14, 2006, 3:43PM
Gas Nationalization Setbacks Feed Doubt
By DAN KEANE Associated Press Writer
© 2006 The Associated Press
LA PAZ, Bolivia — New doubts surfaced Monday about Bolivia's ability to manage the country's extensive natural gas reserves, days after state-run Yacimientos Petroliferos Fiscales Bolivianos acknowledged it would undergo a complete reorganization, complicating nationalization plans.
When President Evo Morales in May launched the nationalization of Bolivia's oil and gas industry, including the assets of international companies that had long controlled most of the country's considerable reserves, he called for YPFB to be restructured within 60 days.
But a statement issued Friday by Bolivia's Hydrocarbons Ministry said the "full effect" of nationalization would be "temporarily suspended, due to the lack of economic resources" of Yacimientos Petroliferos Fiscales Bolivianos, or YPFB.
Now energy experts are expressing concerns about the viability of Bolivia's nationalization process and how revelations about YPFB will affect negotiations for higher gas export prices with neighboring Brazil.
"It's a terrible setback," said Bolivia's former Hydrocarbons Minister Carlos Miranda, now a La Paz-based energy consultant. "The conerstone (of nationalization) is YPFB, and it is totally disorganized.
"Giving the government the benefit of the doubt _ they have found it convenient to stop in order to see what they're going to do, how they're going to do it, and when."
YPFB has asked the Central Bank of Bolivia for $180 million in financing needed to assume complete control of the country's production facilities. However, Bolivian law prohibits the bank from extending credit to public entities except in case of emergency.
Hydrocarbons Ministry spokeswoman Amanda Limpias said Monday that "obviously YPFB will not be able to assume control of everything overnight, but we are working to be able to do it over both the short and long term."
YPFB officials have so far declined to comment.
Long-running negotiations between YPFB and Petroleo Brasileiro SA, or Petrobras, will continue with a meeting set for Sept. 14 in Bolivia. While YPFB hopes to negotiate a higher price for natural gas sold to Brazil, analysts believe the company's current disarray will hurt then at the bargaining table.
"Their negotiating position just deteriorates by the day," said Andres Stepkowski, a Santa Cruz-based energy consultant.
Bolivia's oil ministry said negotiations continue between YPFB and the international companies that wish to remain in Bolivia.
In the political arena, opposition leaders say YPFB's struggles underscore the lack of progress made since Morales' decree.
The nationalization was a "media show," said Fernando Messmer, leader of the conservative party Podemos' congressional delegation. "The refineries are still in the hands of multinational companies."
Many of those companies are not yet paying the Bolivian government the 82 percent share of revenue ordered by Morales, he said.
Since May 1, YPFB has failed to acquire a 51 percent share in Bolivian facilities owned by several international interests, including Petrobras, one of the largest operators in Bolivia. According to the terms of nationalization, foreign companies must sell 51 percent of their stock to YPFB before November or face expulsion from Bolivia.
Other foreign interests whose Bolivian operations were affected by nationalization include the Spanish-Argentine company Repsol YPF, the French company Total SA, and affiliates of BP PLC.
Officials at Repsol and Total declined to comment Monday.
An association of Bolivian oil and gas companies announced that since May, more than 30 foreign and domestic petroleum businesses have ceased operations or taken their business to other South American countries.
Should YPFB prove incapable of developing Bolivia's still largely untapped oil and gas reserves, foreign investors will need some reassurances before they return, said Pietro Pitts, oil industry analyst and editor-in-chief of the online magazine Latin Petroleum.
"Before those guys come back into the picture, things are going to have to be very, very clear," he said.
___
Associated Press writers Alvaro Zuazo and Carlos Valdez contributed to this report.
Bolivia Has A Gas Problem
http://www.forbes.com/business/energy/2006/08/14/bolivia-gas-nationalization-cx_po_0814bolivia.html
Bolivia Has A Gas Problem
Parmy Olson, 08.14.06, 1:40 PM ET
By This Author
Parmy Olson
Bolivia is finding out that making the most of the huge natural gas stash in its backyard is not as easy as it looks.
The country, led by charismatic President Evo Morales, has suspended the nationalization of its oil and gas industry after its state-owned petroleum company found itself hampered by a lack of funds and operating capacity needed to take over the operations of foreign companies like Exxon Mobil (nyse: XOM - news - people ) and Total (nyse: TOT - news - people ).
The "full effect" of nationalization would be "temporarily suspended due to the lack of economic resources" of Yacimientos Petroliferos Fiscales Bolivianos (nyse: YPF - news - people ), said a statement released Friday by Bolivia's Hydrocarbons Ministry.
The news doesn't surprise Jeffrey J. Schott, a senior fellow at the Institute for International Economics. "First of all, Bolivia has stirred up a lot of problems in their own neighborhood with some of their important trading partners, in particular Brazil," he said in a telephone interview. "Second, running one of these companies is not as easy as it looks. You need a lot of technical expertise and management skills. You have to provide some incentives to get the management and capital to operate these fields efficiently."
YPFB had been turned down by the Central Bank of Bolivia after it asked for $180 million to fund its new operations. The Bolivian government is instead planning to restructure and modernize the 70-year-old petroleum firm. Morales had called for YPFB to be restructured within 60 days of his announcement on May 1 that the state would seize control of the oil and gas operations of foreign companies.
According to the Associated Press, YFPB since then has failed to take the 51% share in Bolivian-based facilities owned by several foreign companies, including one of the largest, Brazil's Petrobras (nyse: PBR - news - people ). The nationalization plans were set to affect about 20 foreign energy companies, including Spain's Repsol YPF (nyse: REP - news - people ), Petrobras of Brazil, the U.K.'s BP (nyse: BP - news - people ), France's Total and Exxon Mobil of the United States.
But Schott believes that over time, Bolivia will have to meet these foreign operators half way and renegotiate its contracts. "Probably the politics trumped the economics at the first stage," he said. "As Morales tries to govern, he's going to focus on the economics--otherwise, he's not going to have any money to fund his programs he wants to set up for his constituents."
Doubts Raised on Bolivia Energy Company
http://www.chron.com/disp/story.mpl/ap/fn/4114362.html
LA PAZ, Bolivia — Bolivia's decision to suspend an ambitious plan to nationalize its oil and gas industry has reinforced doubts about the ability of its state-run energy company to manage the country's extensive oil and gas reserves.
A statement issued Friday by Bolivia's Hydrocarbons Ministry said the "full effect" of nationalization would be "temporarily suspended, due to the lack of economic resources" of Yacimientos Petroliferos Fiscales Boliviano (YPFB).
"The truth is coming out," Pietro Pitts, oil industry analyst and editor-in-chief of the online magazine Latin Petroleum, said Sunday. "The state oil company in Bolivia doesn't have the technical know-how, doesn't have the capital, and doesn't have the experience to run those fields that were run for a long time by the bigger guys."
The state-owned company has asked the Central Bank of Bolivia for $180 million in financing needed to assume complete control of the country's production facilities. However, Bolivian law prohibits the bank from extending credit to public entities except in case of emergency.
In addition, the ministry announced plans to restructure and modernize the 70-year-old YPFB, which was partially privatized by former president Gonzalo Sanchez de Lozada in 1997 but re-nationalized in 2004.
When President Evo Morales nationalized Bolivia's oil and gas industry May 1, seizing the assets of international companies that had long controlled most of Bolivia's considerable oil and gas reserves, he called for YPFB to be restructured within 60 days as a "transparent, efficient, and socially controlled" corporation.
Bolivian opposition leaders say Friday's announcement underscores the lack of progress made since Morales' decree.
Nationalization was a "media show," said Fernando Messmer, leader of the conservative party Podemos' congressional delegation. "The refineries are still in the hands of multinational companies" and many of those firms are not yet paying the Bolivian government the 82 percent share of revenue ordered by Morales, he said.
Since May 1, YFPB has failed to acquire a 51 percent share in Bolivian facilities owned by several international interests, including Petroleo Brasileiro SA, or Petrobras, one of the largest operators in Bolivia.
"YPFB has demonstrated that, as a business, it has nothing more than those four letters," said Eduardo Perez, director of the La Paz-based Radio Catolica Fides and an influential political commentator here.
Long-running negotiations between YFPB and Petrobras will continue with a meeting set for Sept. 14 in Bolivia. At issue is the price the Brazilian company will pay to export Bolivian natural gas.
Other foreign interests whose Bolivian operations were effected by nationalization include the Spanish-Argentine company Repsol YPF, the French company Total SA, and affiliates of BP PLC.
An association of Bolivian oil and gas companies announced that since May 1 more than 30 foreign and domestic petroleum businesses have ceased operations or taken their business to other South American countries.
Why didn't Andrew issue a PR and send it out to the world ?
Interesting Article - http://www.kitco.com/ind/Morgan/jul262006.html
Silver Speculator or Silver Investor?
By David Morgan Printer Friendly Version
July 26, 2006
www.freemarketnews.com
I received an invitation to write a timely piece for the launch of this web site devoted to the silver industry. Thinking about what would be of value to the reader at this point in the market it suddenly hit me that many people that think they are silver investors are really speculators.
Personally, I have nothing against speculation and in fact many from the mainstream financial press would consider any commodity based “investment” to be nothing more than speculation at best anyway.
When the silver-investor.com website was begun in the year 2000 a full six months went by before we had our first subscriber. Things have certainly changed since that time until present and many of the opportunities that we laid out for our subscribers do not exist anymore.
I recall a speech I gave in early in this bull market and it involved a New York listed silver company that was the best performing stock in 1979 for the entire NYSE. Silver and silver investing was all anyone could talk about near the end of 1979, the silver market had move up considerably and many investors were in a panic to find precious metals investments. Fast forward to the beginning of this bull market and this same stock had done an equal performance going up ten fold any yet the general market participant and even the precious metals investors were basically unaware of this important fact. In other words this significant move was largely ignored across the board.
I would like to re-emphasize the point that we were talking about a NYSE company that was selling at fifty cents in danger of being removed from the New York listing and this company made it up to the five dollar level several months later. This is the type of speculation we like, risk is low upside is great and most factors about the company can be fully investigated.
Today, these types of opportunities are practically non-existent. Certainly, opportunities do exist and they always will, but the almost “sure” thing is difficult if not impossible in the mining sector presently. This does not mean you should not investigate this sector only that there are many more choices and sifting through all the possibilities can be cumbersome.
As far a silver itself, it is much closer to a sure thing because of the dynamics for silver are so extra ordinarily bullish. This article will not outline the fundamental case for investing in silver.
Before looking deeper into silver investing versus speculating I wish to bring to the readers attention that any serious metals investor should sign up for our free mailing list that provides the “Ten Rules of Silver Investing” for you.
Go to http://www.silver-investor.com/joinfreelist.html
An outline of the Ten Rules is below, this is only an outline each rule is explained in detail and may help the novice as well as the seasoned professional to obtain better results.
Here is an outline of the rules.
1. Why silver, Why Now?
2. Start small- keep it simple.
3. Boost the buying power of your dollars with mining shares.
4. Dollar – cost average to lower your costs – and increase your discipline.
5. Do not get a raw deal from your dealer.
6. What’s yours is yours – so keep it that way.
7. Silver speculation’s like cough syrup- good in small doses-- But too much can make your portfolio sick.
8. A little information can mean a lot more dollars.
9. Collecting silver is an art- but not really an investment.
10. What percentage is the correct amount?
At this time we are looking at rule #7 it reads
7. Silver speculation’s like cough syrup- good in small doses, but too much can make your portfolio sick.
Depending on your individual goals and our personal tolerance for risk, a small portion of the assets you commit to silver can be used for speculation, perhaps in futures contracts or options on futures. Never forget, however, that this type of trading is speculation, NOT investment.
Commenting on the above, we have seen many speculators that have been attracted to the silver market based upon the supply and demand fundamentals and consider the “trade” to be a no-brainer. However the novice trader usually sets up a commodity trading account and goes long silver without adequate capital or a disciplined plan. Shortly, into the market the trader loses money and immediately looks to place the blame for the loss somewhere.
Often the trader finds those that write about the fundamentals as having flawed analysis or move the blame for their loss on to anything outside of themselves. Unfortunately many of these novice traders that were once bullish silver, never come back to the market and usually extol the virtues of staying away from silver at all costs.
In our view most people should steer away from futures or options. We have been consistent from the very beginning to purchase physical metal for cash and this should form the basis or your foundation. Once the investor has established a core holding in physical metal the next area is to obtain mining equities in producers that have sufficient room for growth. In our view get real, get physical and purchase real silver. The purchase of real metal that you can actually touch is truly an investment. Anything above and beyond the physical metal is some type of derivative.
Certainly a producing mining company is a real tangible asset, but a share in such a company is only a claim on the real asset not the asset itself. Therefore investing in top tier mining companies might be considered to be “investments” but they carry greater risk and at times greater rewards but not always.
During the second leg up of this major precious metals market more investors will be moving into the sector. Most mutual fund managers and institutional managers have very strong guidelines that in several cases prevent them from placing money in micro cap junior mining companies. This is not to say it does not occur, only that this is not where the big money is flowing; the large moves generally are in the more liquid mining equities that have market capitalizations of 300 million to one billion dollars.
This is where we have focused our efforts for this phase of the precious metals market. Actually, we prefer mid cap companies because they are faster growing and more dynamic that the largest companies in the sector. This is where the safest and in many cases easiest money will be made over the next several months. The problem becomes one of timing or money management because the volatility has increased substantially.
As an example in the few days it took to compose and finalize this article one of our favorite silver stocks has gone up over twelve percent. However, during sell-offs the move down can be equally dramatic.
The next level that we look to is the junior sector and this is certainly the most risky but also offers huge potential thus the best place to speculate in our view. We make no excuses there really isn’t any investment per se in this sector; at least for all practical purposes any money placed here should be “speculative” risk capital.
Nothing can be more frustrating to precious metals investors than having a basket of junior mining companies and watch gold and silver move up and yet their personal holdings are basically treading water and really not performing as well as the metals themselves.
Many “investors” only have speculative types of mining companies and this presents more possibilities but is also an opportunity to under perform the general precious metals market.
As I have stated many times, never in my career has a junior mining executive come to me and stated, “we have an average project, in an area that is somewhat risky, our management team is adequate, and our funding is minimal.” No, indeed the story usually goes something like; we have the best possible project, in a very safe area, top-level management, and money in the bank!
Bottom line is most of these companies are what are known in the business as “story stocks”, a story stock is more or less a bet on the story. That is the mining company is very near a recent large discovery, or the management has a proven track record of making discoveries, or so much money has been spent on the property previously by a major and they walked away because it was not big enough but this is perfect for you Mr. Investor. The stories take on all types of forms and there are combinations of these general themes.
What can happen is some people (speculators) fall in love with the story and will hold a company that really has little chance for success. Cheap stocks are cheap for a reason, they are generally extremely high risk, have large burn rates of cash (drilling we hope, not just promoting) and the odds are at least two thousand to one against you. Having said all of this, many people still love cheap stocks they think or believe that the story they have is so compelling that it is just a matter of time.
What is the correct approach? Actually there really is not a right or wrong way to participate in this market. Basically is boils down to each individual investor/speculator, however for most a good balance of well known mid tier companies, sprinkled with some high risk/high reward juniors is the most prudent approach.
High priced stocks are high priced for a reason, they have value, many facts are know about the projects such a production rates, outlines of future production, cash costs, total costs, reserves, management and most of all profit or loss. These are the types of investments that the fund managers and institutions have made and will continue to make well into the future. Don’t overlook a mining equity just based on price, remember the higher prices are usually the best companies and don’t you deserve the best?
In this business it pays to stick with the winners and use discipline in all aspects of your portfolio management. So, let me conclude with rule eleven which does not exist, in the original work. You should have fun, make it interesting, and find a style that suits you personally.
Finally, the book on silver investing I have committed to writing is finally available
You can preorder the book here.
By David Morgan
Interesting News - Apogee Intersects High Grade Silver at Paca Open Pit Target
Monday July 31, 8:00 am
Imagine what can Cerro Rico de Potosi hold....
http://ca.us.biz.yahoo.com/ccn/060731/200607310340139001.html?.v=1
Interesting News - Apogee Intersects High Grade Silver at Paca Open Pit Target
Monday July 31, 8:00 am
Imagine what can Cerro Rico de Potosi hold....
http://ca.us.biz.yahoo.com/ccn/060731/200607310340139001.html?.v=1
Financial Advisior, I did not see the statement that you were referring to just GOLD. My bad.
I still doubt it, unless Franklin moves to OTC BB.
CNBC - Fast Money - Very Bullish on Gold and Silver ETFs.
Trueheart, Wonder why those companies were not mentioned in the article.
Are they US Companies ?
Commodities - Oil that glisters
http://www.economist.com/finance/displaystory.cfm?story_id=7198908
There was a mention of Franklin Mining Inc. in that article.
I am happy that they got guarantee from Minister.
But why do you send a PR now, when the press conference was held on May 3. I just don't get it. Can someone explain ?. Thanks
Trueheart - Here's the Spanish version.
http://www.energypress.com/Ed300/Entradas/6.htm
Edición 300 - 03/07/2006
Cinco compañías con proyectos de GTL
De todos las opciones que ofrece el gas natural para ser industrializado, el Gas To Liquid (GTL) o proceso de convertir el gas a líquidos, es la que más atención e interés ha despertado, por parte de inversionistas del exterior e interior del país.
GTL Bolivia, World GTL, Franklin Oil and Gas, World Business Trading y GTL International, son las empresas que están tras el negocio de industrializar el gas, con una regla general para todos: ser socio de Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), según lo estipula la Ley 3058. La premisa es atender primero, la demanda interna de diésel con este energético más limpio, llamado también diésel ecológico o sintético.
GTL Bolivia
Esta empresa conformada por socios bolivianos y norteamericanos, está dedicada al diseño y desarrollo del proyecto de Gas To Liquid (GTL) en el país desde hace varios años. Ha firmado un Memorandum de Entendimiento con Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), y ahora se prepara para firmar un contrato de sociedad mixta.
Este proyecto tiene dos grandes etapas. En la primera, que consta de cuatro años, se procesará 100 millones de pies cúbicos de gas por día, que se transformarán en 10.000 barriles de combustibles por día, de los cuales 8.500 barriles serán diesel y 1.500 gasolina, destinados al mercado interno. Mientras que para la segunda fase, tiene planificado aumentar la capacidad de producción de la planta a 100.000 barriles de combustibles por día, para exportación., en un plazo de ocho años.
World GTL de Bolivia
Esta es una empresa norteamericana de socios bolivianos, que a la fecha tiene el estudio de factibilidad técnica y un Memorandum de Entendimiento que firmaron con YPFB. Actualmente están realizando un estudio de viabilidad, que durará 60 días, del cual esperan obtener los datos sobre la localización del proyecto, producción y logística.
La capacidad inicial de producción de la planta en Bolivia, será de 1.000 barriles por día (BPD) de combustible, para luego incrementar paulatinamente. Tienen proyectado una inversión inicial de 30 millones de dólares en una planta. Después abrirán otra planta en la que pretenden invertir alrededor de 140 millones de dólares.
World Business Trading
World Business Trading anunció una millonaria inversión para industrializar el gas y el excedente exportar a los Estados Unidos a través de un proyecto de LNG. También están dispuestos a invertir en el gasoducto para su exportación a través de Chile o Perú. Sin embargo, una de sus prioridades será construir una planta de GTL (Gas to Liquid), y una planta de regasificación en EEUU.
Asimismo, cuentan con el estudio de factibilidad desde hace cuatro años atrás. Están a la espera de concretar una reunión con el Ministerio de Hidrocarburos para avanzar en el tema.
Su propuesta se basa en construir una planta de GTL en el departamento de Oruro, que estaría relacionado al denominado Gasoducto Occidental Boliviano (GABO), que partirá de los yacimientos de gas del departamento de Tarija, atravesando las regiones andinas de Potosí y Oruro hasta llegar a El Alto.
Franklin Oil and Gas
Esta es una empresa de inversionistas texanos, subsidiaria de Franklin Mining Inc., que el pasado mes de mayo firmó un Memorandum de Entendimiento con la estatal YPFB para la construcción de una planta de GTL.
El proyecto tiene planificado producir inicialmente 10.000 barriles por día (BPD), que serán destinados para el consumo en el mercado interno y luego externo. Una vez firmado el contrato de sociedad mixta con la estatal petrolera, la construcción de esta planta en Santa Cruz se iniciará en un plazo de 18 a 24 meses y su puesta en marcha demandará tres años.
Actualmente el proyecto se encuentra en etapa de estudio de factibilidad. Con este estudio se espera determinar exactamente la producción futura de la planta y las inversiones requeridas.
Cerrar Ventana
http://translate.google.com/translate?hl=en&sl=es&u=http://www.energypress.com/Ed300/Entrada...
Five companies with GTL projects
Of all the options that the natural gas offers to be industrialized, Gas To Liquid (GTL) or process to turn the gas to liquids, is the one that more attention and interest has waked up, on the part of investors of the outside and rear area.
GTL Bolivia, World GTL, Franklin Oil and Gas, World Business TRADING and GTL International, are the companies that are after the business of industrializing the gas, with a general rule for all: to be partner of Oil fields Fiscal Bolivians (YPFB), according to stipulates Law to it 3058. The premise is to take care of first, the internal demand of power diesel engine with the this cleanest one, ecological or also synthetic diesel call.
GTL Bolivia
This company conformed by Bolivian and North American partners, has been dedicated to the design and development of the Gas project To Liquid (GTL) in the country for several years. (YPFB) has signed a Memorandum of Understanding with Oil fields Fiscal Bolivians, and now it is prepared to sign a contract of mixed society.
This project has two great stages. In first, that consists of four years, one will process 100 million cubical gas feet per day, that will be transformed into 10.000 barrels of fuels per day, which 8,500 1,500 barrels will be diesel and gasoline, destined to the internal market. Whereas for the second phase, it has planned to increase the capacity of production of the plant to 100,000 fuel barrels per day, for export., in a term of eight years.
World GTL of Bolivia
This is a North American company of Bolivian partners, that to the date has the technical feasibility study and a Memorandum of Understanding that signed with YPFB. At the moment they are making a study of viability, that will last 60 days, of which they hope to collect the data on the location of the project, logistic production and.
The initial capacity of production of the plant in Bolivia, will be of 1,000 barrels per day (BPD) of fuel, soon to increase gradually. They have projected an initial investment of 30 million dollars in a plant. Later they will open another plant in which they try to invest around 140 million dollars.
World Business TRADING
World Business TRADING announced a millionaire investment to industrialize the gas and the excess to export to the United States through a LNG project. Also they are arranged to invest in gasoducto to its export through Chile or Peru. Nevertheless, one of its priorities will be to construct a plant of GTL (Gas to Liquid), and a plant of regasificación in the U.S.A.
Also, they have been counting on the feasibility study for four years back. They are to the delay to make specific a meeting with the Hydrocarbon Ministry to advance in the subject.
Its proposal is based on constructing to a plant of GTL in the department of Oruro, that would be related to denominated Gasoducto Bolivian Occidental (GABO), that will leave from the gas deposits of the department of Tarija, crossing the Andean regions of Potosí and Oruro until arriving at the Stop.
Franklin Oil and Gas
This is a company of texanos investors, subsidiary of Franklin Inc. Mining, who the past month of May signed a Memorandum of Understanding with the state YPFB for the construction of a GTL plant.
The project has planned to initially produce 10,000 barrels per day (BPD), that will be destined for the consumption in the internal and soon external market. Once signed the contract of state mixed society with the oil one, the construction of this plant in Santa Cruz will begin in a term of 18 to 24 months and its beginning will demand three years.
At the moment the project is in stage of feasibility study. With this study it is hoped to exactly determine the future production of the plant and the required investments.
I think below link should work now. Sorry, my bad.
http://translate.google.com/translate?hl=en&sl=es&u=http://www.lostiempos.com/dyf/27-06-06/i...
If the above link does not work, here is the original link without translation.
http://www.lostiempos.com/dyf/27-06-06/informe.php
YPFB will be wholesaler, but it will still not operate in fields
http://translate.google.com/translate?hl=en&sl=es&u=http://www.cedla.org/obie/articulo/artic...
YPFB will be wholesaler, but it will still not operate in fields
The Press
Oil fields Fiscal Bolivians will assume from a 1 of July part of their new functions in the productive chain of hydrocarbons, the one of wholesaler, and in November he will operate in the exploration and production of gas and petroleum.
On the matter, the temporary vice-minister of Commercialization, Mariano Dupleich, explained that the “reconstruction of the state company is not going to be ready” in the term of 60 days that arranged Supreme Decree 28701, of hydrocarbon nationalization, because several functions exist that are going to take their time.
“Deposits will assume like wholesaler, but it will not be able to still operate in the refineries because it is negotiating with Petrobra's. In addition, only until November they are going away to finish signing contracts for operation and operation with oil ones and after that goes away that is to say where it is going to operate YPFB”, explained to the Press.
Supreme Decree 28701, promulgated the 1 of May of this year, establishes that in 60 days - to start off of the date of publication of the norm and within the process of refundación- “it will be come to his integral reconstruction, turning it a corporative company, is transparent, efficient and with social control”.
Days after the nationalization, the state president of the oil one, Jorge Alvarado, it said that the “integral reconstruction” was synonymous of participation in all the productive chain of hydrocarbons (exploration, production, commercialization, transport, refinement, storage, distribution and industrialization).
In agreement with the National Plan of Development “worthy, sovereign, productive and democratic Bolivia to live well”, the state company requires of 63 million dollars to execute programs that make “their integral reconstruction possible”.
The precise document that the company of the State still does not have the resources, but that it anticipates that they will be assigned by internal and external sources.
The immediate thing
One of the new tasks that YPFB will assume immediately is the wholesale distribution of diesel engine and gasoline in the country.
The 31 of June is fulfilled the contracts that seven private companies subscribed with state the oil one in 2001.
According to the Hydrocarbon Supervision, the productive units that will leave the business are Copenac, Dispetrol, PBD, Pexim, Petropac, Refipet and PBR.
Deposits decided not to sign new contracts with those companies so that, within the framework of the nationalization, the State controls the commercialization of hydrocarbons.
Thursday, Alvarado assured that oil the state one is ready to assume that task, and even announced that it contracted 50 new civil employees to take care of fluvial and terrestrial the transport, in addition to the storage of fuels.
Dupleich vice-minister confirmed that YPFB at the moment rents facilities to guarantee the normal supplying with fuel during the transition process.
From month end, the reconstructed national oil company also will operate in the jets, in association with Petróleos de Venezuela S.A. (PDVSA) or Petroandina.
Pending activities
Dupleich vice-minister explained that Deposits position could not be still made of the refineries Gualberto Villarroel (Cochabamba) nor Guillermo Elder Bell (Santa Cruz), while it does not have the 50 percent the more one of the actions of Petrobra's Bolivia Refinement (PBR), company that controls both facilities.
Supreme Decree 28701 nationalizes the PBR actions. But so that YPFB indeed assumes the administration of the refineries must cancel a compensation, amount that is analyzed by the parts.
On the other hand, Dupleich clarified that although the norm indicates that from the 1 of May Deposits will participate in the productive chain, will not be able, for example, to operate in the oil fields while the companies of the sector do not sign new contracts. Norm 28701 grants a term of 180 days, that is fulfilled the 1 of November, to make that proceeding.
Changes in the structure
Like part of its reconstruction, the oil one wants to change of face. The Executive Presidency raised to eliminate the vice-presidencies of Operations and Administration and Contracts, and to create in its place corporative managements.
The suggestion looks for in addition to centralize the offices of oil the state one, that by effects of Hydrocarbon Law 3058 are distributed between La Paz, Tarija, Santa Cruz, Cochabamba and Chuquisaca.
The adviser of the Presidency of YPFB, Manuel Morales Olivera, mentioned that the idea was in analysis, but to date a project of reforms to the Hydrocarbon Law was not materialized. In which yes one advanced is in which the oil ones already gave the total production of hydrocarbons.
Law 3058 already established this attribution, that was complemented with Decree 28701.
The advances of the refundación
YPFB recovered to name of the State the property of hydrocarbons.
The oil ones give to the production of natural gas and petroleum that explode.
The state company designated to its directors and capitalized receivers in oil ones.
Deposits participated in the meetings of directory of Chaco and Andean.
With Transredes there are advances in the purchase of actions, but there is no definition.
In nontraditional areas it will operate next to Petróleos de Venezuela SA (PDVSA).
Incursionará in the separation of liquids and the petrochemical one of the gas and petroleum.
And has agreements with oil Franklin Gas (the U.S.A.) and PDVSA (Venezuela).
Another one of its activities is the renegotiation of prices of the export gas.
Copenac will rent to its plants so that oil state diesel amount
The National Oil Company (Copenac) will rent its plants of storage of Yacuiba (Tarija) and Santa Cruz to Bolivian Oil fields (YPFB) so that this one can concern diesel engine for the internal consumption.
The general manager of Copenac, Mauricio Nallar, in a telephone contact from Santa Cruz explained to the Press that its company will provide the service of tanks, that they have a capacity of 4 million liters of diesel engine each one.
“Not yet it is closed as soon as we are going to rent to them. There is no a definitive proposal, but we are going to deal with which she is attractive for us and also for YPFB”, needed the executive.
Nallar did not want to advance more details of amounts. Nevertheless, it did not discard to consider the market parameters. Hydrocarbon the Logistic Company of Bolivia (CLHB) receives to YPFB 5.40 dollars by cubic meter of stored fuel, informed other sources into the oil sector.
The private company anticipates to rent its facilities by a medium term, soon to sell them to the State.
Wholesaler disappears
Nallar confessed that from the 1 of Copenac July it will disappear so that YPFB is the only wholesaler.
At the moment that company handles between the 40 and 50 percent percent of the national import of diesel engine. That is equivalent to approximately 13 million liters per month. Most of the fuel that brings is of Argentina (10 million liters) and the rest comes from the plant of Copec, in Chile.
In Copenac they work between 70 and 80 people, who, according to Nallar, will receive all their social benefits.
As follow up to Trueheart information, here is the link with translation.
http://translate.google.com/translate?hl=en&sl=es&u=http://www.lostiempos.com/dyf/27-06-06/i....
Robert Kiyosaki - Bet on Gold, Silver, Oil and Gas, Not on Funny Money
http://finance.yahoo.com/columnist/article/richricher/7810
Bet on Gold, Not on Funny Money
http://finance.yahoo.com/columnist/article/richricher/7810
Interesting News : YPFB Outlines New Organizational Structure
http://www.rigzone.com/news/article.asp?a_id=34139
YPFB Outlines New Organizational Structure
Friday, July 14, 2006
Bolivia's state oil company YPFB is restructuring to take on an operative role rather
than an administrative one, newspaper Correo del Sur reported.
As a result, YPFB will be made up of at least five subsidiaries and three publicprivate
companies.
The subsidiaries will include YPFB Exploracion, YPFB Produccion, YPFB
Transporte and YPFB Refinacion, the paper quoted company president Jorge
Alvarado as saying.
YPFB initially will associate itself with oil companies Andina and Chaco exploration
and with pipeline firm Transredes to transport natural gas and oil.
Further, YPFB will work with Venezuela's state oil company PDVSA, Bolivian
natural gas company GTL Bolivia, US-based Franklin Oil & Gas and Argentina's
state oil firm Enarsa to develop industrialization plans.
YPFB's role since 1997 was to regulate the activities of the 22 oil companies
operating in the country but this changed when President Evo Morales nationalized
the hydrocarbons sector in May this year.
<span style="font-size: 8pt;">Visit <a href="http://www.Bnamericas.com"
TARGET="_new">BNamericas</a> to access our real-time news reports, 7-year
archive, Fact File company database, and latest research reports. <a
href="http://www.bnamericas.com/trial.xsql?Tx_idioma=I" TARGET="_new">Click
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RIGZONE NEWS
provided by Rigzone.com
Source: BNAmericas
http://www.rigzone.com/news/article.asp?a_id=34139
Coeur to start building Bolivia silver project.
http://today.reuters.com/stocks/QuoteCompanyNewsArticle.aspx?view=CN&storyID=2006-07-13T224651Z_...
Bolivian Finance Minister: Mining helps Bolivia's economy
http://www.mineweb.net/sections/whats_new/680506.htm
Where did you get this information ?
http://biz.yahoo.com/iw/060531/0132304.html
FMNJ Clarifies the Role of Bolivian Subsidiaries, Relationship With YPFB and COMIBOL
Wednesday May 31, 1:34 pm ET
LAS VEGAS, NV--(MARKET WIRE)--May 31, 2006 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News). On April 25, 2006, we announced formation of Franklin Oil & Gas, Bolivia S.A., a wholly owned subsidiary, for the purpose of entering into a relationship with YPFB to assist Bolivia with natural gas industrialization and to help eliminate the need for imported diesel fuel. On April 26, we announced that our new subsidiary and YPFB had signed a memorandum of understanding (MOU) for the construction and operation of a gas-to-liquid diesel fuels processing plant.
The April MOU was resigned on May 25, 2006 for the purpose of confirming that the relationship was in compliance and understanding of Bolivia's May 1, 2006 nationalization of their oil and gas sector. This was the first such announcement following nationalization of Bolivia's oil and gas industry.
Following YPFB business protocol, an MOU is the binding document when defining a relationship. Our May 25, 2006 MOU authorizes the public announcement of a joint venture company being formed for the purpose of construction and operating a GTL processing plant. It also orders the preparation of a formal feasibility study for the plant to be located in the Department of Santa Cruz' Grande River region and defines that plant as having a production capability of 10,000 barrels per day with provision for an additional 9,500 barrel per day capability to produce other natural gas liquids (NGLs). The NGL capability can be included in the original design and construction or added later.
The May 25, 2006 MOU also defines the YPFB and Franklin Oil & Gas, Bolivia, S.A. relationship as a partnership with each partner sharing equally in net profits resulting from plant operations and product sales, marketing and distribution.
FMNJ's CEO, Jaime Melgarejo, has returned to the US to make preparations for completion of the MOU's required feasibility study, set to be underway within two weeks and completed within seven months.
Following the customs and traditions of COMIBOL, a Letter of Intent (LOI) defines joint venture mining operations and relationships.
A Letter of Intent is the binding document defining the joint venture relationship between Franklin Mining, Bolivia S.A. and COMIBOL. On May 1, 2006, we announced our negotiations with COMIBOL were complete and that a proposed Letter of Intent would be delivered to our Bolivian attorney for review.
In April 2006, we had announced COMIBOL's assignment of four veins in the Cerro Rico de Potosi mine and ordered an analysis of each vein's potential value. An analysis of the San Miguel vein, the first of four reports to be received, was released on May 18 describing a mineral vein 1600 meters in length and containing 154,000 kilos of silver plus other recoverable minerals. Three additional analysis reports have not yet been released. Processing plants have also been authorized by COMIBOL and will be included in the LOI.
The LOI, which has been reviewed and approved by our counsel, and returned for signature, validates the acceptance of our technology, management skills and business model by both FEDECOMIN and COMIBOL.
Franklin Oil & Gas, Bolivia S.A. (a Bolivian corporation) and Franklin Mining, Bolivia S.A. (a Bolivian corporation) are wholly owned subsidiary companies of Franklin Mining, Inc. YPFB (Yacimientos Petroliferos Fiscales Bolivianos) is Bolivia's state-owned oil company. COMIBOL is Bolivia's state-owned mining company. FEDECOMIN is Bolivia's management council responsible for providing guidance and supervision to all Cooperative Societies.
For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info@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.
To receive future company information via e-mail, please send your contact information to info@franklinmining.com.
Here is the link about the agreement between Exxon Mobil and Qatar, that Jamie was talking in the news release.
http://www.exxonmobil.com/Corporate/Newsroom/Newsreleases/xom_nr_140704.asp
scroll down the website, to see the news about FMNJ.
http://translate.google.com/translate?hl=en&sl=es&u=http://larazon.glradio.com/versiones/200...
This link gives more description about the project.
http://translate.google.com/translate?hl=en&sl=es&u=http://www.redbolivia.com/noticias/Econo...
Here's couple more.....
I now truly believe that FMNJ is legit company and it will have huge potential. FA start investing....
http://translate.google.com/translate?hl=en&sl=es&u=http://www.financiero.com/internaCont_id...
http://translate.google.com/translate?hl=en&sl=es&u=http://www.terra.com/noticias/articulo/h...
http://latino.msn.com/noticias/articles/ArticlePage.aspx?cp-documentid=518646
http://translate.google.com/translate?hl=en&sl=es&u=http://www.hoyinversion.com/noticias-emp...
http://biz.yahoo.com/iw/060525/0131412.html
Press Release Source: Franklin Mining, Inc.
Franklin Mining Will Open La Paz, Bolivia Office With Additional Offices in Potosi and Santa Cruz
Thursday May 25, 11:29 am ET
LAS VEGAS, NV--(MARKET WIRE)--May 25, 2006 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News) is today announcing plans to establish an office in La Paz, Bolivia; both of Franklin's Bolivian subsidiary companies will establish more centrally located offices.
Franklin Mining, Bolivia will soon establish an office in Potosi to be closer to the offices of their COMIBOL Joint Venture partners, FEDECOMIN de Potosi's cooperatives and the Cerro Rico mining operations and processing plants.
Franklin Oil & Gas has recently established an office in the city of Santa Cruz near the most likely construction site of the YPFB partnership's Gas-To-Liquids processing plant.
Jaime Melgarejo, Franklin CEO, said, "We felt it would be best to maintain separate facilities for each subsidiary. Both companies need to have offices physically closer to their partner's office as well as the work site. Negotiations with COMIBOL and YPFB national executives are mostly complete and we are in daily contact with executives and leaders at department and local levels. Considering the specific needs and requirements each company has, this is the right time to establish our local facilities."
FEDECOMIN is Bolivia's management council responsible for providing guidance and supervision to all Cooperatives Societies. COMIBOL is Bolivia's national mining company. YPFB is Bolivia's national oil and gas company. Franklin Mining, Bolivia and Franklin Oil & Gas are Bolivian corporations and subsidiaries of Franklin Mining, Inc.
For additional information on Franklin Mining, Inc, please visit our web site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info@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.
To receive future company information via e-mail, please send your contact information to info@franklinmining.com.
Contact:
Contact:
Franklin Mining, Inc.
Andrew Austin
619-334-5644
info@franklinmining.com
Source: Franklin Mining, Inc.
http://news.yahoo.com/s/ap/20060524/ap_on_bi_ge/silver_survey
Interest in silver increased in 2005
By EILEEN ALT POWELL, AP Business Writer Wed May 24, 11:17 AM ET
NEW YORK - Demand for silver rose in 2005 to the highest level in five years as strength in jewelry and industrial products offset softness in photography and coins, the Silver Institute said Wednesday.
The Washington, D.C.-based industry group also said its annual survey indicated that investor demand for silver has been increasing, just as it has been for gold.
"For much of 2005, investment demand in silver tracked moves in the gold prices, as well as expectations," the report said.
The report, which was prepared by London-based GFMS Ltd., a metals research company, said demand for silver for fabrication totaled 864.4 million troy ounces (26,885 metric tons) in 2005, up 3 percent from 839.4 million ounces in 2004 and the highest level since 866.8 million ounces in 2001. A metric ton equals about 2,200 pounds.
Nearly half went for industrial products, especially in electronics and electrical sectors, with jewelry and silverware the next largest category. The report said much of the growth in demand for jewelry and silverware was in China and India.
"Chinese silver jewelry and silverware demand rose by a stunning 20 percent in 2005," the report said. "Indian fabrication for this category rose by 8.5 percent ... while North America experienced its fourth successive year of growth."
Production at mines was a record 641.6 million ounces (19,954 metric tons) in 2005, up 3.4 percent from 620.4 million ounces in 2004. Other sources of silver were government sales and silver scrap.
Philip Klapwijk, executive chairman of GFMS Ltd., said in an interview that he expects the price of silver this year to exceed last year's average of $7.31 per troy ounce. That, in turn, had been up from an average of $6.65 per ounce in 2004.
"Year to date, the price through April was above $10," he said. "I assume May-June will be above $10 as well, so it will be difficult not to see a price average significantly above the $7.31 of last year."
In the futures market on Tuesday, silver for July closed up 74 cents at $13.17 on Comex, a division of the New York Mercantile Exchange.
___
On the Net:
http://www.silverinstitute.org