is close to bankrupcy
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So far it has proven as if it is IED.
Also he was able to earn trust of Bolivian establishment by earning an 'Honorary Navy Captain' position. That is some thing which should give a lot of leverage/influence to any CEO in any country.
Don't forget that he is earning his living as a consultant for so many other things that no body knows much here. That means FMNJ is not his bread and butter and thus can be put on a back burner for any length of time.
I wish he use his earned influence/reputation in a way that he wins some very promising Gold or Lithium project for FMNJ one day. It is a very long wait for many who got their hard earned $$$$s stuck up here and even to this day, only see a very dim light at the end of this tunnel.
Hope he will not abandon this ship when he sees much better return for all his influence and reputation some where else.
For us it was under his stewardship that our investment got decimated. We are used to wait and that is what we are expert at.
Good reference to growing influence of FMNJ. Strong support for private sector is growing fast and a tiny company like FMNJ, some how is part of this, is really surprising.
"The government is an inept administrator," said Sergio Vacarreza Salazar, leader of a growing movement of independent mining cooperatives that is looking to foreign sources for investment.
"We want to form our own ventures with private investors to develop our mines. The government just does not have the money or access to technology," he added, following a deal signed last week between his independent workers' cooperative and a U.S.-based miner, Franklin Mining, to develop a gold mine.
With such a bad move like RS announcement, be ready to read some more surprising announcements in future. I had decided to buy before RS but now it has raised many question which support the belief that this company is not in expert hands.
For such a company issuing RS announcement does show some incompetence on the part of management. If company does not need money and they are not worried about the success of the company then why why should they be scared of high volume and why they didn't let market play its role and take the PPS close to the new valuation. JIMHO
mydas! It is disgusting to read such humiliating/sarcastic comment from some one who was born Yesterday. Mart has earned respect over so many years, without realizing any gain from his investment of tens of thousands like several others. If you want to question their judgment in a sarcastic way you better need to go back here and read thousands of posts.
My advice to such people like yourself is to be more careful before using sarcastic language about any poster in general and particularly to ones who are real veterans here.
After R/S company has to sell much more shares from it's treasury and that will be substantial numbers b/c they have planned to do equity financing.
uksausage! "financing through dilution" is used when big institutions are not convince about viability of the project. I may be wrong but there is no better way for a company then to have a backing of some big bank or other financial institution including Venture capital. In absence of such a backing, share holders are at mercy of the management and they slaughter them very badly.
Agree with you one 100%.
And Joseph Caywood already own SIWS(Private). To avoid expensive and lengthy procedure for enlisting SIWS on any exchange and going through IPO process, he instead preferred to RM with clean and updated shell like STDF.
Before RM has taken place he is already CEO of STDF shell.
All the DD is about Scorpio and there is nothing substantial about STDF. RM can be great but where is any proof from Scorpio or anything that can show it is going to happen. Before any actual merger, is it a legal to print another company's bullish DD here? I'm not trying to dampen the excitement but want to know what are the basis. IMHO
Still mean bigger part of the pie for FMNJ, if they are able to sell and get real dollars amount in their bank.
Does it mean that FMNJ will not split profit from the sale, with PRRY?
By the way, I raised my concerns,the first time the report of shipping 300 tons was released, without export papers specifying the constituents of the ore with percentages.The things looked fishy at that time since ore contained some percentage of gold too.
I like the way you phrased it, "which will allegedly show revenues."
Still no activity. No AS is 10,000,000. Out of this 10,000,000 are Preferred and each share has par value $0.0001.
Very valid observation. I believe he did that after becoming President. But he is still Chairman and CEO and therefore can't absolve himself of that promise.
But promises are made to break in this case. He broke another most important one, that was made at the same time and that was regarding not to dilute the stock. His excuse was that he had to dilute and named it equity financing since no body was ready for debt financing. He said that after becoming president he came to know exactly how bad financial situation of the company was. That is a politician's truth and not real truth b/c before taking over he was consultant and adviser to the Board for many years. He must be knowing every detail about company.
With all said I give one credit to Mr. Petty and that is he has very successfully kept our dreams alive so far.
Not at all. Cant tell u how desperate is every body to see this moving out of this dead end.
Every body has a right to have his/her opinion. I respect yours and let us wait for earning numbers.
No question about Silver investing but what to do with FMNJ. When it is going to move. Have u read today's PR?
Not worth any more discussion since we are too familiar with his PRs. We need actual verifiable numbers only.
Do not see any relevance to the earning report we have been promised some time now. Another PR added to the pile with zero significance.
press release
April 13, 2011, 3:00 p.m. EDT
Franklin Mining Appoints R. Adrian Cotasaenz President
LAS VEGAS, NV, Apr 13, 2011 (MARKETWIRE via COMTEX) -- Franklin Mining, Inc. (pinksheets:FMNJ) Chairman and CEO, William Petty, has this morning announced the appointment of Mr. Adrian Cotasaenz as President, Franklin Mining, Inc.
In making today's announcement, Mr. Petty said, "Adrian has long been associated with Franklin Mining, having conferred with us on several potential construction projects over the past year. During the past few months, I recognized that Adrian's leadership as Founder and President of Segovia Group was far more valuable to Franklin than in just the role of a joint-venture partner. After lengthy discussions between Adrian, myself and other Franklin directors, executives and managers, we have mutually agreed that he will formally join us and serve as our President.
"Adrian has distinguished himself as Founder, Chairman and CEO of Segovia Group Corporation. With offices in San Antonio, Texas Segovia quickly grew to be a multi-million dollar developer of real estate and construction projects throughout the US and in Central America and was recently recognized as a Service Disabled Veteran Owned Small Business.
"Adrian was raised in El Paso, Texas, attended the University of Texas, El Paso studying in the College of Business Administration before enlisting in the United States Marine Corps in 1995. Serving in Operation Desert Fox as an Infantry Squad Leader, he was twice awarded the Navy-Marine Corps Achievement Medal," Mr. Petty concluded today's announcement welcoming Mr. Cotasaenz to Franklin Mining, looking forward to personally introducing him to our several joint-venture mining partners in Bolivia. http://www.marketwatch.com/News/Story/Story.aspx?guid={3d6f2ecf-5fda-4a73-95f9-5123ddfb909f}&siteid=nbsh
Any body has Mr. Petty direct contact number? I have send him email several weeks back and has not received any reply so far. May be office does not forward that to him. I will share the content after I will be able to talk to him if he will agree to make it public. Fair enough.
Yesterday I received a statement about one for one hundred reverse split so as to bring the value of the common as well as preferred to $0.0001.
Ok thanks, I'll check it out
I have an Hp Pavilion laptop and I have recently replaced the external battery. However, there is a constant mesage on my screen that the internal battery is too low and that your system might shut down immediately. What's going on? What can I do about it? I would appreciate your help.
I agree with you one 100%.
Nothing to laugh about, Mr. Vozmil.
No question about the hazards of mining profession. I was referring to the fact that all mines have to close one day b/c of exhaustion of deposits. It happens every day some where in the world. Miners leave for other destinations all the time. Therefore it is not a tragedy but norm of the profession.
However, in the case of Cero, Govt should develop surrounding areas before whole hill becomes dangerous to work underground.
Also Mr. Petty can expedite work on Escala, so that there are some more job opportunities for the locals.
FMNJ will employ them all very soon. Hahahahahaha Don't forget all mining towns are destined to become ghost town one day. That is the nature of this business.
Bolivia's exhausted Cerro Rico mountain risks collapse
http://www.bbc.co.uk/news/world-latin-america-12822247
Don't worry, it will only move when buys exceed billions, every day of the trading.
O.M.G Kalahari has moved 9.5%. And that is the the part of great design.
http://ca.finance.yahoo.com/q?s=KHGT.PK
I agree one 100% with you and also feel your pain. We are part of this tragic story. Waiting to see some light at the end of this long tunnel. Some long timer here has advised me to be patient b/c some thing is due here. I asked for basis of their optimism. He is not ready to disclosed that to me so far. So I follow patience as it is defined, as the act or power of calmly or contentedly waiting for something due or hoped for; forbearance.
It looks like that the promised revenue is in doubt now. B/C u guys are not buying into Mr. Pitty's latest revelation.
Are u referring to KHGT.PK? No way, FMNJ is more then enough. As far as Royalflush is concerned, we all are in the same dirt bag together for a very long time.
True, Company with market cap of 1.4M has come to rescue FMNJ. Hahahahahah..... The game seems to me is a potential of increasing existing 67.2M out standing shares to 100 of billions until the share price of KHGT.PK is same like FMNJ. Of course the strategy will be called equity financing. Same drama is going to be repeated like we have watched and very painfully experienced in case of FMNJ.
That is with Peru. Here we are talking Chile.
WASHINGTON -- The following information was released by the Council on Hemispheric Affairs:
by COHA Research Associate Nicky Pear
A Matter of National Pride
On October 19th, Peruvian President Alan Garcia and Bolivian President Evo Morales signed an accord granting Bolivia access to a small stretch of coastline in southern Peru. The deal confirms the "Bolivamar" agreement initially signed in 1992, allowing Bolivia a 99-year lease of the port of Ilo. Consequently, Bolivia will have access to the Pacific Ocean for the first time since it lost its entire coastal region to Chile in the "War of the Pacific" over a century ago.
From 1879 to 1884, Bolivia and Peru were embroiled in a military conflict with Chile over the control of territory on South America's western shore. The "War of the Pacific" was fought both on land and at sea, and saw Chile conquer an area of Bolivia known as the litoral or coast. Chile's spoils of war included access to a greatly expanded and mineral-rich, former Bolivian territory. Bolivia, on the other hand, was left landlocked and has remained so to this day. Relations between Chile and Bolivia have been strained ever since, with successive Chilean leaders stubbornly refusing to negotiate on the issue of …
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True, that is what we have seen so far. Pattern has not changed a bit. I have wrote several time before that we need some thing concrete to come out from our Chief. But promise and prepare to prepare and then prolong silence is what has not changed.
One thing he was able achieve successfully here is to keep attracting new enthusiast. Very soon they will be veteran like most of oldies here.
Processing Plant at La Joya for Gold and Silver. Reference to following announcement. If he is really talking about Gold and Silver processing, why tons is used as scale? Have any body heard tons while dealing with Gold and Silver?
Feb 22, 2011 12:15 ET
Franklin Mining Bolivia Enters Joint-Venture With Cooperativa Minera Aurifera Nueva "La Joya, Ltda"
Construction Plans Have Been Submitted for Approval
LAS VEGAS, NV--(Marketwire - February 22, 2011) - Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman & CEO William Petty is pleased to announce that Franklin Mining Bolivia and Cooperativa Minera Aurifera Nueva "La Joya, Ltda" have signed a Memorandum of Understanding to construct and operate a gold and silver processing plant at Minera Aurifera Nueva "La Joya, Ltda."
The public signing of the La Joya -- Franklin Mining Bolivia Memo took place yesterday in La Joya, Bolivia. A celebration following the Memorandum signing by Cooperativa President, Sergio Vacarreza, and Franklin Mining Bolivia President, William A. Petty, was attended by cooperative members, Franklin Mining Bolivia executives and managers and a representative of Franklin Mining's international financial partner.
"First phase construction is estimated to be completed twelve months after final contractual agreements are in place and will have a 500 ton per day processing capacity. The infrastructure and platform construction for an additional 2,500 ton per day capacity will begin at the same time. When completed, the 3,000 ton per day capability at La Joya will be the second largest in Bolivia and the single largest daily capacity from a single Cooperativa." Mr. Petty continued, "La Joya was previously a fifteen year supplier of 8,000 tons per month of product to Empresa Minera Inti Raymi SA as well as a supplier of product to Battle Mountain Gold when they were operational."
About Franklin Mining, Inc: Franklin Mining, Inc. has mining interests in the United States and Bolivia. 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.
What is 8000 tons a month?