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Interesting ... Which city in Southern India ?
http://biz.yahoo.com/iw/060524/0131208.html
Press Release Source: Franklin Mining, Inc.
Franklin, COMIBOL Joint Venture Is Structured to Revitalize Mining Operations at Historic Cerro Rico de Potosi
Wednesday May 24, 11:34 am ET
Additional Potosi Area Mine Operators Will Help Rebuild Economy
LAS VEGAS, NV--(MARKET WIRE)--May 24, 2006 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News). Franklin Mining, Bolivia's Joint Venture with COMIBOL for four veins of the Cerro Rico de Potosi, has been designed and structured in anticipation of returning this historic mine to full operations and enhancing multiple aspects of the local economy. Franklin's MOU with EcoSystem Partners, LLC, Sarasota, FL to provide Broadband technology and services designed specifically to help improve mine safety was one of the first such commitments.
The value of FMNJ's Bolivian subsidiary's Joint Venture with COMIBOL is not yet fully defined. What is known is that the Cerro Rico, under COMIBOL's ownership, is considered the world's largest silver deposit. Dr. Adrian Boyce, Senior Research Fellow, Scottish Universities Environmental Research Centre in Glasgow, has written that the Cerro Rico's production has never been matched, having produced almost five times more silver than any other BPV deposit.
The San Miguel, the first Joint Venture vein to be publicly identified, is estimated to contain 154,011 Kilo of silver. Results from COMIBOL's three other analysis reports have not yet been released.
In releasing today's information, Franklin CEO Jaime Melgarejo confirmed FMNJ's position in Bolivia, "Our agreement with COMIBOL is to be their partner in their goal of returning the Cerro Rico to full production. With Franklin Mining, Bolivia providing capital and technology, with FEDECOMIN providing workers and with COMIBOL having assigned the Joint Venture its four veins, work is set to begin."
Three other foreign-owned mining operations in the Potosi area are also projected to make contributions to improving local economies. Coeur d'Alene Mines is projecting their San Bartolome operation will be online in 2007. Apex Silver Mines, Ltd has two projects including the multi-million dollar San Crisotbal. This multi-national project is expected to be operating by the third quarter, 2007.
Mining is a crucial part of Bolivia's history and is playing a pivotal role in President Evo Morales' plan to reinvigorate the economy. Modern era silver mining of the Cerro Rico de Potosi has been ongoing since 1544 when the Conquistadores discovered the immense wealth. A study by Mark Abbott (Univ. of Pittsburgh's Dept. of Geology and Planetary Science) and Alexander Wolfe (Univ. of Alberta's Dept. of Earth and Atmospheric Sciences) published in the Sept. 26, 2003 issue of Science, concludes that New World metallurgy was under way as early as 1000 to 1200 A.D. Abbott and Wolfe believe these large scale smelting operations continued through early Colonial times (1400 to 1650 A.D.) and provide evidence of a major pre-Incan silver industry.
FEDECOMIN is Bolivia's management council responsible for providing guidance and supervision to all Cooperatives Societies. COMIBOL is Bolivia's national mining company. Franklin Mining, Bolivia (a Bolivian corporation) is a subsidiary 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
Here it is..
State oil it began negotiations to execute multimillionaire projects The execution of new gas industries in the country is in march. Santa Cruz (ANF). - Oil fields Fiscal Bolivians began negotiations with interested in investing and to be partners of the state one, as much in exploration as in hydrocarbon production and the industrialization of the natural gas, besides to export LNG to the United States, in agreement with the report of the president of YPFB, Jorge Alvarado. The Americans Word Business TRADING and the Predator Technologies are arranged to invest between three and five billion dollars in the country. Whereas GTL Bolivia also is interested in using 1,000 million dollars in plants of synthetic diesel engine. Either it was not left outside the intention to produce biodiésel. The five projects were explained this Saturday to the main state executive of the oil one in Santa Cruz, in meetings that maintained with emissaries of each potential partner. “We have showed to Them that for us it is priority the area of production and exploration to increase our reserves, and the other aspect is the industrialization of the gas in our country”, projects in which YPFB must participate with 51 percents and the rest property of the investors. “What it calls us the attention is that they are American investors who want that we work in society with YPFB, absolutely in all the business, from the exploration, production, transport to the coast and sale of our gas in the market, together, like partners; thing that never had offered to us in the past, when they wanted that we sell our gas to them in well mouth and the rest of the business is of the companies; of that that project of the LNG consisted”, emphasized. INDUSTRIALIZATION AND LNG The envoys of the company Word Business TRADING expressed that they would be arranged to invest up to 5,000 million dollars, “that is a very great amount and that with these resources perfectly we could develop” all the hidrocarburífera chain, it indicated Alvarado. In his proposals they include the industrialization of the gas in Bolivia and to export the excess to the United States in natural gas form liquefied “LNG”, for which, also he would invest in gasoducto to arrive at a port in the Pacific or in Chile or Peru, to install a liquefaction plant and to construct a plant of regasificación in the country of the North. OIL EXPLORATION Another American is the Predator Technologies that offers to concern five equipment of perforation to be associated to YPFB in three of the eleven blocks that the State assigned the state one. Alvarado meets for the second time with the delegates of this company. The blocks of interest of this company are located in the traditionally oil area of the country and are: the 4 denominated Cedar with 124,275 hectares of extension, the 6 named Iñau with 100,000 hectares and Aguaragüe with 114,375 hectares. Both last they were given back in months last through Chaco and Petrobra's, respectively. In order to start up the society, mañanate, YPFB will subscribe a letter of intent with executives of Predator Technologies, and soon to establish the conditions. “We thought that we could sign in three weeks the society so that it begins to work in the country”, Alvarado added. GTL BOLIVIA In a matter of days, YPFB also will constitute a mixed company with GTL Bolivia, of Carlos Kinn, for the installation of three plants, one of 2,500 daily barrels in Cochabamba and Santa Cruz, and another one in Tarija of 10,000 barrels. The investment in the projects adds 1,000 million dollars. “I want to clarify that these negotiations are under the conditions of which minimum stops YPFB must have left the 51 percent, the rest for contraparte”, indicated its President. SEPARATION OF LIQUIDS Another company interested in separating the liquids of the natural gas that Bolivia exports to Brazil is Petroleum Sinergy, whose representatives presented/displayed the study of final design for the construction of a plant in River Grande or Villa Mounts. The objective of the Government is to extract the propano and butane to produce GLP and to guarantee the supplying of the internal market and until exporting excessive giving value added to the natural gas. ALSO BIODIÉSEL And, finally, YPFB received the proposal of the national company Bio vegetal Fuel for the production of biodiésel from soya, sunflower and other products. On the matter, Alvarado indicated that the construction of a plant for the production of 6,000 daily barrels will be authorized, similar to the volume that is concerned from Argentina to cover the internal deficit. It considered that with this project the agricultural border would be increased and the subvention of the diesel engine would be eliminated that the last year reached to 100 million dollars.
http://www.awknowledge.com/AEA/content.asp?contentid=51050
Old News... But interesting to note that.. website says about what type of GTL plant FMNJ are planning to build.
Bolivia: US-funded GTL plant 'unaffected by nationalisation'
By Alan Bunting
15 May, 2006
Source: Automotive World
According to a statement from the US-based Franklin Mining Inc, Bolivian president Evo Morales' decision to nationalise the country's natural gas industry will not affect the building of a Fischer Tropsch GTL (gas to liquid) plant planned for the Santa Cruz region as a Franklin joint venture with the Bolivian state energy company YPFB to produce clean synthetic diesel fuel.
Franklin Oil & Gas Bolivia, though a subsidiary of the US corporation, is a Bolivian registered business and its memorandum of understanding with YPFB "appears to be in full accord with the requirements of President Morales’ decree", said Franklin Mining CEO Jaime Melgarejo.
Interesting... I wonder, why they want to buy FMNJ stock. Is FMNJ such a big player in Bolivia ?. Is the source credible ?
http://today.reuters.com/news/newsArticle.aspx?type=reutersEdge&storyID=2006-05-18T132009Z_01_N1...
Interesting News.. I wonder which are other two US companies. Is FMNJ part of Shaw Group bidding for the projects ? Or Is it bidding separetly ?
Interesting News.. I wonder which are other two US companies or FMNJ is a part of Shaw Group bidding for the projects.
http://today.reuters.com/news/newsArticle.aspx?type=reutersEdge&storyID=2006-05-18T132009Z_01_N1...
BOLIVIA Mining Industry Sector Analysis 2006
http://lapaz.usembassy.gov/english/commercial/MiningIndPro2006.pdf.
If FMNJ signs atleast one contract with Bolivian Government and gets confidence of people and Government of Bolivia, then the potential for growth is huge for this company.
But the big word is IF....
This is just bad PR. After all the hype that this stock has generated, I was expecting better news from the company. I don't care how many people came to welcoming ceremony. Did FMNJ signed the contract or not ?
Its "sensitive". Anyway, that was not a hype.. nor pump. Not everyone here tries to hype the stock.
So who is stopping you... It was just a report.. you *****..
Mart,
You got it right.
Well, it was freebie news http://www.pinksheets.com/quote/news.jsp?symbol=FMNJ.
Gold and Silver buzz log http://buzz.yahoo.com/buzz_log/?fr=fp-buzz-title
Bolivia Nationalizing More Sectors. http://news.yahoo.com/s/ap/20060502/ap_on_re_la_am_ca/bolivia_gas_24;_ylt=AqFNiHJ5uu6W1aFhVVI1zv_a7K...
Any reasons for your prediction ?
If Jamie was able to cut deals and work it out with Bolivian National Companies, it says lot about his credibility with Bolivian authorities and long term prospects for this company are good. Bolivia has abundant natural resources and it needs foreign investors to improve the standard of living of its people. It takes time to get the polices work, but eventually they have to make it work because there is not much choice.
What a day.....
Mart, Its not old news. They are expecting some outcome on negotiations with Bolivian National Gas by next week.
http://wallst.net/audio/audio.asp?symbol=FMNJ&id=1767
You have to register with the website.
http://www.marketwire.com/mw/release_html_b1?release_id=110780
Franklin Mining Reports $30Mil Tax Loss Carry Forward
LAS VEGAS, NV -- (MARKET WIRE) -- 02/22/2006 -- Franklin Mining, Inc. (OTC: FMNJ). In announcing that Franklin Mining's unaudited 2004 financials have reported a $30 million tax loss carry forward, CEO Jaime Melgarejo went on to explain the benefit to FMNJ shareholders. "Over the next few years, our shareholders will enjoy the benefit of our company's increased profitability without the company having to pay income taxes on its earnings until the losses are used up. This is especially important news for our shareholders in view of our recently announced Letter of Intent for the expansion of mining operations in Bolivia. Our Joint Venture with COMIBOL and one of the cooperatives will help bring the Cerro Rico Mine back to full operation. We expect these operations to bring significant earnings to the company."
Highlighted Links
Franklin Mining Inc.
MacReport.Net
Mr. Melgarejo concluded his announcement adding, "The 'Bottomline' for Franklin Mining shareholders is increased profitability. And the 'Bottomline' for Bolivia is that Franklin Mining is committed to sharing these profits for the social benefit of the country. In cooperation with Ibero American Science & Technology Education Consortium (http://www.istec.org), Franklin Mining's increased profits will benefit schools, housing and medical facilities."
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.
Additional information on company operations is found at our website http://franklinmining.com.
http://www.bloomberg.com/apps/news?pid=10000086&sid=amrw_02_Mldc&refer=latin_america
I hope they can capture new markets in Bolivia.
http://www.franklinmining.com/Portals/40/Newsletters/JanuaryNewsletter.pdf
January 2006 Newsletter To Our Shareholders: HAPPY NEW YEARS!!!
We are in the process of filing a form 15C211. This should improve our status with the pink sheets once this is completed. Currently, our stock is sold on an unsolicited basis. We can then be put on a solicited status. Which will enable the company to be exposed to a much bigger investment community. We are in the process of doing our 2005. Once this is completed we will have them audited and then apply go to the BB. Please keep in mind that we will still have to clear SEC due diligence so that we can be listed on the BB. Just because we re-apply does not guarantee acceptance. That is only part of what we are trying to do... We signed a letter of intent with the government and an association of cooperatives that consist of several thousand miners. If the deal goes thru we are to work hand in hand with each of these organizations involving a silver property in Bolivia. This silver property is the Cerro Rico mine in Potosi. Perhaps one of the richest silver mines in the world. It is estimated that over 2 billion ounces of silver has been mined and some geologist theorize that their maybe another 2 billion more ounces of silver to go. The second richest silver mine in Bolivia is reported to have a little over 200 million ounces. After the contract is signed I will advise full details of the joint venture and the terms of the contract and what it will mean for FMNJ. We have expanded our team this year to include Mr. Andrew Austin; he will be handling your inquiries and telephone calls. The number, which he can be reached at, is 832-248-6211 or e-mails him at info@franklinmining.com. He is compiling a database of investors. He requests that you e-mail him with the information. Now I know there are several of you that are use to calling me, please contact him instead...you will probably get more information from him instead of me referring you to the website. We have also hired a Mr. Stephen Nichols to write our press releases. We have hired Daniels-McGowan, Inc to help us with our filings and advise us on SEC matters. We are in the process of re-newing that advisory agreement with Dr. Henry Sandri. He advises us on Mining, Economics. The company is reconsidering its plan on doing a reversal. We feel that at this time a reversal is not in order. We have opportunities and we are following up on these opportunities so that we can move the company forward. We are also facing challenges, however we do expect to eventually get over these challenges. We live in an uncertain world and we operate in areas that are high- risk areas. However, these areas are rich in natural resources and adjustments are going to have to be made as the circumstances of these areas change. If an investor should have some questions they are probably best served to contact the company thru e-mail at info@franklinmining.com or call Mr. Andrew Austin. This is going to be the last of the monthly newsletters. Mr. Andrew Austin will be responsible for keeping the shareholders up to date on company progress. Sincerely, Jaime Melgarejo, Jr. C.E.O. Franklin Mining, Inc.
http://www.bnamericas.com/story.jsp?sector=7¬icia=343347&idioma=I
Franklin pursues JV with Comibol - Bolivia
Published: Friday, February 3, 2006 10:37 (GMT -0400)
Las Vegas-based Franklin Mining (Pink Sheets: FMNJ) has signed a letter of intent for a joint venture with Bolivian state mining company Comibol and a local cooperative, Franklin CEO Jaime Melgarejo told BNamericas.
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The JV agreement is for a silver project in the South American country, Melgarejo said, declining to disclose the project name.
The company had shut down its Mayaya gold project on the Kaka river near capital city La Paz due to protesters' roadblocks. Protests made it impossible to obtain supplies and equipment from La Paz, said the CEO.
In addition to political issues and severe diesel shortages in Bolivia, the mineral grades diminished at Mayaya shortly after Franklin took over the project. "We had very good tenors the first few months, and the tenors fell off. Couple that with the very limited time of operations we had - we no longer saw it as a profitable situation."
Franklin had been aiming to increase production to 322oz/month of gold by the third quarter of 2005, Melgarejo said previously. The company became the project operator in June 2004.
Mayaya sits on the Kaka river downstream from the Tipuani region, Bolivia's main gold area, according to Melgarejo.
In its search for additional properties and better tenors, Franklin plans to look for opportunities in that region. "We're going to look up into the Tipuani area closer to the actual source of gold so we can get better tenors."
Franklin likely will pursue concessions in the area, then contract the operations to other companies to minimize its liabilities in Bolivia, Melgarejo said.
Franklin also has the Franklin Mines in Colorado state, though it is actively looking to divest itself of the property, according to the company's website.
By Laura Superneau
BNamericas.com
Still a long way to go. I am more interested as to what is the status on operations in Bolivia and Columbia ?. How much Gold/Silver are they producing now etc..?
Press Release Source: Franklin Mining, Inc.
Franklin Mining, Inc. Reports on Silver and Gas Opportunity in Bolivia
Friday January 6, 4:09 pm ET
LAS VEGAS--(BUSINESS WIRE)--Jan. 6, 2006--Franklin Mining, Inc. (OTC Pink Sheets:FMNJ - News) is very positive on the opportunities in Bolivia.
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In the last trip to Bolivia, the C.E.O. met with officials of COMIBOL, the mining corporation of Bolivia and a Federation of Miners that represent several thousand miners. This meeting was to discuss the possibilities of a joint venture between the groups in order to capitalize projects, increase production and profitability on a silver mine in Bolivia. "These meetings were very positive and we hope to be able to formalize this joint venture so that we can aide in doing very positive things in Bolivia," remarked C.E.O., Jaime Melgarejo.
The C.E.O. also met with officials from Y.P.F.B. (The national oil company of Bolivia) on furthering discussions of doing a joint venture project with Y.P.F.B. The meetings were very positive and a draft of an M.O.U was made. This draft is currently under review by the legal department of Y.P.F.B. "We feel that what we are trying to accomplish with this joint venture is within the guidelines of the new hydrocarbon law," said company C.E.O., Jaime Melgarejo, Jr.
The local branch of PKF was hired to audit the operations in Bolivia for 2004 and 2005. We hope to have our 2005 financials completed by the end of February.
DISCLOSURES:
About Bolivia:
It is believed that over 2 billion ounces of silver has been mined in Bolivia. One of the oldest and most productive silver mines in the western hemisphere is the Cerro Rico Mine in Potosi, Bolivia. It is also believed that Bolivia has the 2nd largest gas reserves in South America.
"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.
Contact:
Franklin Mining, Inc.
Terry Moran, 832-248-6211
Info@franklinmining.com
Source: Franklin Mining, Inc.
Newsletter for November. Checkout the website at http://www.franklinmining.com/Portals/40/Newsletters/NovemberNewsletter.pdf
What is it going to impact on Franklin Mining in Bolivia ? Its of no use, unless Frankin does some business in oil. Its already December and there is no newsletter for November.
There are lot of If's. Its a long shot.
What's happening with this stock ? No news from the company either.