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I'll buy a whack of FMNJ again if it drops to around .003 .... as FMNJ mngmt. hasn't done anything lately that convinces me they have the ability to succesfully implement prior plans... they have failed to deliver the 400 TPD production for the end of October... and are destined fail delivering the "up to 10 plants" by early 2007.
For the record, I closed my FMNJ position approx. 2 weeks ago.... at .003 I'm comfortable buying FMNJ again simply as a highly speculative hold... as I think the company will have serious problems delivering production until Bolivia's nationalization plans are completed, which will be sometime in 2007, regardless of any news/spin FMNJ may throw out until nationalization is near complete.
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
"an increase of up to 10 plants by January 2007. The processing will produce 4,000 tons per day."
http://biz.yahoo.com/iw/060912/0162261.html
More boom-boom sticks being thrown around by Miners... that's all this company (and the other Bolivian companies) need.
There's hardly any volitility left in the stock (not good)... the charts look the stock has recenty gone on life support.... IMO, the killings of the Bolivian Miners in October have changed the dynamics/plans of this stock for the short-term.... IMO, FMNJ mngmt. is trying to figure out how to break the news to investors on how the recent turmoil in the country has disrupted their previous plans without tanking the stock at the same time.
IMO, there's alot of damage-repair work that needs to be to rebuild investor confidence on this stock before any meaniful long-term upward momentum can be maintained.
Precious Metals investors by nature like to hedge risk... and unfortunetly, the risks here have only seem to be mounting, IE: the president admitted that “the state doesn’t have the economic resources to achieve mining nationalisation”, although he insisted that “that doesn’t mean that this has stopped” and said the policy had merely been “postponed” until 2007.
http://www.ft.com/cms/s/fd723518-69ce-11db-952e-0000779e2340.html
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
and...
"an increase of up to 10 plants by January 2007. The processing will produce 4,000 tons per day."
http://biz.yahoo.com/iw/060912/0162261.html
I guess that means instead of FMNJ delivering 10 plants by Jan. 07... they're gonna deliver 20 plants instead... LOL!
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"an increase of up to 10 plants by January 2007. The processing will produce 4,000 tons per day."
http://biz.yahoo.com/iw/060912/0162261.html
If its such a good deal, then why weren't you already buying with both hands today?... volume was kinda low today.
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
http://biz.yahoo.com/iw/060912/0162261.html
With those type of statements, he's defintely putting barriers infront of any momentum that Bolivian Mining Co's might have benefited from if Precious Metals prices were to rise nicely over the coming months...
unfortunetly, I see the risks here increasing over the coming months... not decreasing...
Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
http://biz.yahoo.com/iw/060912/0162261.html
I guess the good news for Bolivian Mining Co's is he's saying he's backing away from nationalization.... however, the bad news is he's saying its only becuase of a lack of funds and that mining nationalization efforts will commence again in 2007...
he insisted that “that doesn’t mean that this has stopped” and said the policy had merely been “postponed” until 2007....
http://www.ft.com/cms/s/fd723518-69ce-11db-952e-0000779e2340.html
Bolivia mining reform will move slowly - Morales...
Bolivia will reform and modernize its dilapidated mining industry, but it will leave more radical parts of the shake-up until next year due to lack of funds, President Evo Morales said on Tuesday...
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20061031:MTFH34723_2...
It's hard to find micro-cap Silver co's... not many choices under 2 bits.
I already have enough exposure here... I don't need any more risk in this company...
although, if maybe if mngmt. was more timely/forthcoming on tailings/production that would change.
While we're waiting for FMNJ mgnmt. to update us... anyone have any other small cap Silver companies they feel have strong upside that may be worthy of possibly moving some capital into?
Lawyers rev up for post-election court battles...
Democrats plan to field a 500-person volunteer "legal protection team" on Election Day - composed mostly of attorneys...
http://www.baltimoresun.com/news/elections/bal-te.md.legal31oct31,0,7605822.story?coll=bal-home-head...
Lack of volume must mean investors are waiting to hear from FMNJ mngmt. to see if FMNJ's Bolivia operations got dynamited along with those fueding miners.
Heavy silver demand suggests a very bullish fourth quarter...
Silver's next big move could take it to $15 per ounce, possibly $20 per ounce or even higher. Well-positioned companies will reap whirlwind profits...
The Shanghai Gold Exchange started silver trading on a trial basis today, Oct. 30. Since the Shanghai Exchange already offers trading in gold and platinum, this trial should become permanent, and it will likely attract money from China's 1.3 billion capitalists. They've already gone gung-ho for stocks -- Shanghai's stock market just hit a five-year high -- so Chinese investment demand for silver could be an explosive force in the market....
http://www.marketwatch.com/News/Story/Story.aspx?siteid=mktw&dist=moreover&guid={A17F421F-C1...
Examples of some of the recent mining upheaval in Bolivia...
LA PAZ, Bolivia (Reuters) - At least nine people died and 60 were wounded on Thursday as miners fighting for control of tin mines, including one of the world's biggest, battled each other with dynamite in western Bolivia.
http://today.reuters.co.uk/news/newsarticle.aspx?storyid=2006-10-06T015152Z_01_N05246143_RTRUKOC_0_U...
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Bolivian miners clash with dynamite: 12 dead
The Miners Union chairman Alfredo Aguilar confirmed the seriousness of the situation and said violence erupted when a group of independent miners took by assault the Huanuni mine with dynamite sticks .
http://www.mercopress.com/Detalle.asp?NUM=8904
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Frankling Mining on the BBC web site (back in Aug-06)...
Franklin Mining, a US mining group, signed a memorandum of understanding with YPBF just weeks after the nationalisation.
http://news.bbc.co.uk/2/hi/business/4801233.stm
This was the latest spin from the company (last month) on how they were going to get the cash-flow going...
http://biz.yahoo.com/iw/060912/0162261.html
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It's pretty obvious they won't meet the Oct or Jan 07 time-frame... but at the chance of making myself look like a sucker for FMNJ mngmt. stories... the mining industry in Bolivia has been in a very violent/deadly upheaval for the past month...
http://news.google.ca/news?hl=en&ned=ca&q=bolivia+mining+deaths&btnG=Search+News
hardly an environment to make early stage mining progress in... but with the nationalization plan accpetanced this weekend, it'll probably help the resource sectors in Bolivia move forward at a quicker/safer than recent pace, IMO.
Bolivia Agrees on New Energy Deals...
Bolivia has agreed energy deals with 10 foreign gas and oil firms, just before a deadline for foreign firms to agree new contracts or leave the country...
http://news.bbc.co.uk/2/hi/business/6095550.stm
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Frankling Mining on the BBC web site (back in Aug-06)...
Franklin Mining, a US mining group, signed a memorandum of understanding with YPBF just weeks after the nationalisation.
It plans to set up a joint venture to construct and operate a 10,000 barrels per day gas-to-liquids processing plant that should help Bolivia industrialise its gas and reduce the need for imported diesel fuels.
The plant capacity might be expanded later.
http://news.bbc.co.uk/2/hi/business/4801233.stm
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Hmmmmmmmmm .... maybe this company isnt a P-n-D afterall.
>> the tailings project set to commence after the assay analysis of three tons of material to estimate potential content of ore
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says who?
Silver trends from Zeal LLC....
You'll notice the consolidation period of upleg #2 lasted 141 days... upleg #3 lasted approx. 177 days... and the current consolidation period since early May 06 is now at approx. 166 days, signalling we may be very, very close to the next big leg up in Silver Bullion...
See more Silver charts at the Silver Producers thread at...
http://www.investorshub.com/boards/board.asp?board_id=5406
Excellent new audio interview with Financial Expert Jim Puplava, who interviews an expert on the Federal Reserve... ties back to Gold and Silver backing of money...
http://www.netcastdaily.com/broadcast/fsn2006-1028-2b.asx
NYBob... check out the new movie from Aaron Russo... lots of content about one of your favorite subjects: The Federal Reserve...
http://video.google.com/videoplay?docid=-4312730277175242198
IMO, the movie will probably end up bringing a few new investrs into the Precious metals market... much to the dis-pleasure of the Federal Reserve, I'm sure.
You shouldn't be making assumptions based upon a shortage that very probably wont happen... the politcs of the situation wouldn't allow the percpetion of a shortage to materialize.... THEREFORE;
As Silver strengthens towards the middle teens....
With actual production; FMNJ = .25
Without actual production; FMNJ = .05
As Silver strengthens towards the middle teens....
With actual production = .25
Without actual production = .05
Large cap. Gold stocks really begining to noticably lead the metal higher (GLD = Gold)...
I was reading the FMNJ web site last night... it says;
"We are very excited about this project and hope to have this cash flowing before the end of 2006"...
http://www.franklinmining.com/Projects/TailingsProjects/PulacayoTailingsBolivia/tabid/19636/Default....
However, as you know, it looks like someone really goofed in the Septemeber news release by being much more specific/optimistic on the dates...
http://biz.yahoo.com/iw/060912/0162261.html
muer22: I agree that FMNJ should issue a PR on the Tailings Project status... becuase trying to sweep it under the carpet like it didn't exist will do alot more damage than being honest and upfront with shareholders, regardless of the status of the project.
FMNJ made some VERY BIG PROMISES in this PR...
http://biz.yahoo.com/iw/060912/0162261.html
This stock has so much potential... but I feel mngmt. is slowly squandering it away.
zagyzebra: I've also noticed GoldMoney has received 3 different Patents for digital gold currency inventions....
http://www.goldmoney.com/en/patents.html
I smell a future Digital Gold E-Currency IPO... Sprott Securities already owns 9.9% of the company...
http://www.goldmoney.com/en/company-news/2006-07-31.html
I think the demand/accpetance of a e-payment system 100% backed by Gold or Silver could be huge... Goldmoney.com has a fledgling e-payment system already in place, but with only just a handful of merchants accpeting it at this stage...
http://www.goldmoney.com/en/use-gold.html
IMO, goldmoney.com looks really interesting... I think I'm going to join them within the next couple months.
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The first patent application was filed in February 1993, and US Patent No. 5,671,364 (PDF file) was awarded in September 1997. This patent provides for a system and method that enables gold or other commodities (tangible assets) to circulate through an electronic medium as currency in a book entry accounting system.
The second patent, US Patent No. 5,983,207 (PDF file), was awarded in November 1999. This patent provides for a system and method that enables gold or other commodities to circulate electronically as digital cash, ensuring privacy and facilitating micro-payments.
The third patent, US Patent No. 6,415,271 (PDF file), was awarded in July 2002. This patent provides for a system and method that enables gold or other commodities to circulate electronically as digital cash over wireless networks and by means of electronic devices such as smart cards...
http://www.goldmoney.com/en/patents.html
Recent FMNJ stock performance vs. Silver bullion...
I guess when you start making overly optimistic press releases like this...
http://biz.yahoo.com/iw/060912/0162261.html
and it looks like the compnay cant deliver, you can't expect the stock to be treated very well... 10 plants by Jan 07, okay, ya sure... good thing I'm in this stock cheap.
Large cap. Silver stocks leading the metal...
same with large cap. Gold stocks...
It looks like a very big savings compared to commissions the local Coin dealers charge... the only thing is;
* if you buy from the local Coin dealer, you take physical possession of the coins/bars.
* if you buy from Goldmoney, you don't get physical possession of the coins/bars... they hold it for you.
Also... I noticed that Sprott Asset Mngmt. has become a investor/owner in Goldmoney.com...
http://www.goldmoney.com/en/company-news/2006-07-31.html
For those looking to buy physical Silver... my research seems to indicate that http://www.goldmoney.com offers some of the most attractive rates for buying/selling Silver bullion.
They claim to allow you to sell at spot price without incurring a commission... and they say they only charge a commission on the purchase, not on the sale... anyone here have expirences using http://www.goldmoney.com ?
If they can't get one plant operational by the end of October... how do they expect anyone to believe they'll have 10 plants operational by Jan 07?...
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It should be operational in October and will produce up to $200,000 to Franklin Mining per month with an increase of up to 10 plants by January 2007. The processing will produce 4,000 tons per day.
http://biz.yahoo.com/iw/060912/0162261.html
Any word on the Tailings project that was suppose to be operational by the end of this month?...
* is it on scheudle?
* if it is going to be delayed, by how long?
* did the nationalization plan harm the project?
* or maybe the project been dropped altogether?
Someone must know something about it?
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
http://biz.yahoo.com/iw/060912/0162261.html
OT - "Everyone is afraid of the Duck"...
"There was a lot of traffic on the Baghdad road, and the Duck just came up alongside a car in front. A man got out -- he had a dark shirt and heavy black beard -- and walked toward the other car.
"He pulled two pistols out of his belt and stood there calmly shooting into it at point blank range. There was nothing left of the person inside. Then he walked back to the car and drove off."...
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/10/19/MNG7LLS88T1.DTL&feed=rss.news
RE: Anyone talk to FMNJ mngmt.
Maybe FMNJ mngmt. meant October of 2007?
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
http://biz.yahoo.com/iw/060912/0162261.html
Anyone talk to FMNJ mngmt. about whether they are on schedule to deliver on their earlier announcement on the Tailings project starting by the end of october?...
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day...
http://biz.yahoo.com/iw/060912/0162261.html
The Shanghai Gold Exchange plans to launch Silver trading before October 31, the exchange announced Thursday...
http://www.thestandard.com.hk/news_detail.asp?we_cat=10&art_id=29884&sid=10460752&con_ty...
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Large cap. Gold stocks very strong today... leading the Metal again (GLD = Gold)...
http://finance.yahoo.com/q/bc?s=GLD&t=1d&l=on&z=m&q=l&c=abx,au,gg,kgc,nem
If FMNJ mngmt. was really on-the-ball and serious about creating value in their stock... they would have been issuing NR's lately (at a pace of approx. 1 per week over the past 4 or 5 weeks) about how they've been rolling out efforts and making progress on multiple fronts in regards to delivering the start of the Tailings Projects within their earlier stated time table.
However, it's very possible FMNJ is not making anywhere near the progress they intially anticipated on the Tailings Project due to the recent nationalization implcations... becuase, I'm inclined to think FMNJ would have reported decent progress on the Tailings Project if there was progress to report.
Considering they only have 12 days to deliver within their stated timetable, and with the recent nationalization news, and the silence on the Tailings Project, I'd bet the chances of a delay forthcoming is better than 50%.
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Franklin Mining announces the first tailings processing plant will be operational in OCTOBER and will be PRODUCING 400 tons per day... WHERE'S THE BEEF?...
http://biz.yahoo.com/iw/060912/0162261.html