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This news sounds promising. My hope is that the company has some sort of an agreement in principle with a big company or banker subject to their inspection of the Escala site and confirmation by Biste that there is "gold in them thar hills". These deals are not done in a day and it requres many meetings as well as entertainemnt dinners accompanied by a fine stable of coohitas I am sure.BTW many posters are under the impression that a pink shet can not trade lowere then .0001. Wrong I'm afraid. Stocks can and do trade lower so caveat emptor but I think it is worth a shot at these prices.
Bistes website has a drawing of the silver gold veins at Escala that he will explore this week. Does anyone know how the gold, if significant, is extrapolated from the mine and what the cost per ounce is for production? Where is it processed and how long does it take? These are some of the questions that immedaitely come to mind. Maybe, Nervous Ned, since you apparently have Senor Biste's ear, he can give some us some information so we know whether or not this is fools gold. It will be important for future investment decisions as to whetehr or not to buy, sell or hold. A move up by the stock this week ,before any news announcements, may signal that some positive developments have occurred.
Thanks for posting the Biste schedule NED.We now have a timeframe for the geological report. Biste will be back in his office On May 11 and depending on how detailed his report is, and payment of the balance due him, we will probably have some word by the end of May.The report on the gold/silver mineralization should be most interesting. If the gold is significant the stock may get a big boost when the results hit the internet.
The preferred shareholders of course. LOL. Would you be surprised to learn it was senor petty et al ? Are you interested in buying some preferred or maybe a nice bridge in Brooklyn New york?
Senor Biste arrived in Bolivia and according to Petty he will be busy analyzing the Escala mine this week. My speculation is that there will be some sort of news release in the near future indicating that this analysis is positive. If the banking and investment interests are assured that this mine will be a profitable venture, perhaps the company can raise money without the need for further dilution of the shares. I also think that the comapny may finally announce that processing of the ore, either at the site or at a nearby plant, along with production of antimony, has finally begun. If the company can show income in this quarter which ends june 30,the stock should start to move. A move before this actual announcement would indicate that some frontrunning is occurring which is also a good sign for bagholders, er , I mean shareholders. Good luck to us.
Gracias senor en su ayudar con mi ingles.
Thanks fordamoney. The Michael Biste website is proof that this is a serious project and that the company is indeed doing an audit that will hopefully lead to proof of sufficient mineralization to guarantee bank financing of the project. Investors want to see that they are not buying a pig in a poke. My guess is that Biste will spend a week or so at the mine and will soon thereafter issue some sort of preliminary report on his website or thru a company Tuesday press release. Congratulations on getting independent confirmation of the potential of the Escala.
Manana is el primero de mayo, un dia muy peligroso para the stockholders of this compania. En este dia, antes de tres anos , el jefe de Bolivia decided to announc he was nationalizing the mining industry. Franklin was 15 cents antes de annuciado y tres centavos luego. Now getem knows what he sounds like when he tries to write en ingles. Buena suerte manana . Maybe it will turn out to be un dia spectaculo.
I agree my friend. The resumption of operations release shows the lack of transparency of this company. Clues that they had run out of money was of course Senor Biste's response to a poster here that he had not visited Escala for the survey since he wasn't paid. From the stock volume lately, it apprears that the "insiders" who were buying the cheap stock are finished or equally fed up. No decisions for us here since we are bagged at these prices. Put up or shut up time for the company.
My dear gethem your last malaprop was indeed precious. You want to get to the nitty gritty which you referred to as the needy and greedy. I fear that needy and greedy is an apt discription for all of the investors here. Another famous wordsmith you might enjoy, the great Yogi Berra,( no he is not from India) has stated that " it aint over till its over.." a takeoff on the operattic metaphor that it aint over till "the fat lady sings". Millions have been won and lost by those that speculated in gold, silver and even copper ventures. No one can predict the future, not even the great seer Imanjen. Do we have a shot to make it with this company. Absolutely. Is it a good shot. Hmm. A little better than winning the lottery but where there is life there is hope.Not much decision making at this level since the stock is now priced just a tad above tottlay worthless. Good luck as I remain your faithful servant, Imanjen.
news awful not often. still cant type worth a lick.
Disagree with your premise that democracy and investing works with educated public. Jefferson believed that democracy should be for the land owners and he invented our system. Investing works for smart guys who get inside information and the "educated" public is left holding the bag. The public is as educated a Miss California who think that the oppsites should be ntyhe only ones to marry. DUH. People call the company to try to get non public information or a feel about future events to cause them to buy, sell or hold. Never heard of a company exec telling a caller to get out since the news in the future will be often except fort insiders like Martha Stewrat who was a total greedy lady who njeopardized her company for a smal;l short ternm gain.
Since you are an asst moderator here , I am somewhat surprised at your cavalier attitude. There are some serious investors here who expect the moderators to be a buffer between the cpmpany and the bashers who have a small investment and have nothing better to do in their life than complain.
I wish there was a pill for those, like you, who suffer from Schadenfreude. As usual your observations and general sense of negativity add nothing here. Can anyone come up for a euphemism for my erudite response that you should go coitus yourself. Wikipedai anyone. You really think President Obama is "your guy"? You make me twitter.
That's the sortagreen we have all grown to love. Now if you figured out that I was being facetious in my comments and have no clue as to what Biste or anyone else is doing with this fine company, your diatribe would indeed be humbling. Too bad you didn'ty see fit to answer my request for your opinion on Obama's reachuing out to the Sur Americanos. Repeating that the company is issuing shares and diluting stock to survive ad nauseum adds nothing to investment decisions here. We get it DUH. You are nowhere near as smart as you think you are. Tungsten?
It was the seventies and like today the market was in a awful doldrum until Joe Granville made a fateful call after the Fed did something about the discount rate on August 13. It is disappointing to see that you still feel that gay bashing is in vogue but I haven't heard the term fruit loop since Archie Bunker went off the air. Do you think that Tiny was r3eally gay? Didn't he marry Miss Vicki and didn't they have a kid. Gather ye rosebuds when you may.
Nice to read your acerbic remarks. What happened to your Meet the Press technique of repeating a persons statement in bold type and then using your keen sense of humor to refute it? Once again in your life, the glass always appears to be half empty. But thanks for your input. BTW didn't I see you at the Teabagging party with your Tung hanging out.
Tuesday newday is here again and the hope here is that this time it will be different. The lack of volume in the stock this past week indicated to me that the selling of shares out of Teasury may be over. It is spring and the smell of antimony is in the air. Senor Biste is busy doimg his analysis of the riches at the Escala and major construction to erect the in situ processing plant has begun. It is the planting season and like the late great Tiny Tim used to crone , Tiptoe through the Tulips.
A new era in American politics toward our S. American neighbors is at hand as President Obama is opening dialogue with Cuba and even MOrales in venezuela. This can make more US companies look to get a hook on investments with comapnies like FMNJ who understood the plight of the indigent Indians who have been exloited by foreign corporations and their own governemnt corrupt leaders. Even pro Western coutries likde Costa Ricqa suffered from major political corruption. Remember when people danced around the May Pole instead of using the day for anti US vitriol? I will be interested in sortagreens take on this development if he is still around.
One potosi. two potosis, three potosis, when I reach 20 billion potosis I am stopping.
more testing
Tuesday Newsday if history is repeats itself as it tend to do. Time marches on as the investor awaits news that the company has finally found a way to start processing the product it is exploding out of the mine in the Escala or digging at San Antonio de Turini for antimony. Surely we wait for some extraordinary plan, to make Mart and Trueheart a wealthy man.
Thanks for the info FDM. I think Biste ws saying that the remoteness of Escala was ironically a positive since security is an issue in Bolivia and the banditos would have great difficulty in accessing the area of the mine. I also agree that a postive evaluation of the reserves of the mine might bring in sopme buyers but there is a problem in that fmnj only operates the mine and does not own it.
If Pink Sheets really enforced their Buyer Beware provisions, I dare say almost all the issues would be deemded in violation. Pink Sheet companies, due to financial constraints, are almost always far behind in reporting their quarterly reports, for example. While they are being so sanctimonious, maybe they should investigate the market maker fruad that permeates the exhange.Like the previous poster advised, these investments are obviously not for the fainthearted and should be cosidered no better then gambling money at a casino.
I wonder if it is east delta, edlt, the company they were talking to and announced previously as being involved. It is currently trading at 3 cents a share.
The original release said it was a public company. Instead of speculating maybe you or Royalflush can call your contact person and get some clarification. Perhaps they will also answer the 4 questions posited and I do not mean: Why is this release different from all the other releases ?
On February 26, 2009 Fmnj announced that an offer for the O&G Division was made by a public company. This announcement suggests that fmnj has in effect spun off and formed a new independent company and will have a public offering of shares while fmnj maintains a 20 million share interest in the new entity. Since there have been no new IPOs issued recently by anyone, I doubt that the company has the paperwork, underwritng sponsor, or expertise to pull this off. Like most of the releases issued, this one lacks transparency(a favorite word lately of the literati). If the shares are distributed to shareholders on a pro rata basis, I imagine you would have to use the formuls of 20 million divided by 20 billion. Can anyone figure out the math juist for laughs. Someone should invent a calculator that goes to the billion # since it is commonly thrown around nowadays.
Things seem to be improving in the mining industry. CDE has moved up 200 per cent from its low but still is down 75 percent from its 52 week high. If franklin can show some revenue it should draw in new investors.
If the company used the net profit from Turiri to buy back the shares at the current price, the could purcahse 1/3 of the total outstanding shares. It will never happen, but it is an interesting thought. At the current price, the market cap with 20 billion Outstanding is only $2 million total. An optimist may feel that this company could be worth 150,000 million if they become a prducing mining company. That would be 75 times the current price. If they could reduce the OS, no way to judge how high this could go. Now I'm going to take my medication.
Plese check my math. FMNJ has announced that Turiri grosses $2300 per ton. If initial production is 50 tonnes and will ramp a up to 150 tonnes per month , the gross revenues will be $115,000 to $345,000 per month at full capacity. If fmnj's share is %60 the company will net approximately $7000 per month and $21,000 per at full capacity. The company should net approximtely $250,000- $750,000 in a years time from the San Antonio.If the expenses to run the mine come off the top,( my guess is $100,000 ), this is not a bad deal and gives the company some needed, albeit modest, cash flow. It also establishes its credibility as an operator of mines in Bolivia. Not too bad inh my opinion.
How much do we love them? Let us count the shares....... One mississippi, two mississippis, three mississippi...................................It's called a self bailout as long as they can find buyers for the shares. Call the company and vent a little. Or of course you can tweeter them galore.
Obama is pushing hard for an energy program using lots of batteries for electric powered cars. Each battery need a fill up with antimony and fmnj will be a major US supplier in a growing market. You cannot have your mony back. No do overs here. Back to the FU ture.
Todays news indicates that the good ole US will be the market for the antimony market. Apparently Petty will ramp up the current prodution levels which were probably raher modest. I guess that is better than a stick in the eye.
My guess is that the San Antonio de Tururi mine was abandoned because of low antimony prices and/or too much competition and Comibol or the the owner agreed to let Petty duplicate the Escala experience of restarting a shuttered facility. First estimates by fmnj is that it will take 3 months to clean up the site, hire miners and staff and begin processing. The 30 KM distance to the nearest smelter seems resonable and the company is establishing a presence in Bolivia as a new player in the burgeoning mining field. When I first got involved, the promise was the contract to mine silver at the great mountain in POtosi. Now the company, under Petty, has decided to go the more modest route of gaining experience and operating small once productive mines. No choice for most here other than to see if Petty can turn this company into a success.
My guess is that this mine has not been in operation for a while and that Petty will have someone manage, hire workers, and reopen the mine. Again the announcement is devoid of the name of the owner or the property and it would not surprise me if this is part of Comibol. Every little bit helps of course but the track record of getting a mine operational with deliveries to a processing plant or smelter is not a good one. If Petty says thee months I would expect cash flow by summers end at the earliest.
In todays environment a billion anything doesn't seem too excessive.There are still less shares of fmnj then stars according to the late Carl Sagan.Right now I'm hoping my x will accept antimony instead of alimony.
The continual lack of real information on the ability to process the rock that is lying on the ground has been a source of frustration for all here. We still dont know if thet are doing any processing at the site or off site at the plant they recently "diccovered" nearby. Lets see some pix of the truck(s) they bought. Clear up the issue of how this stuff is mined. First we thought it was by reaming out material. Then we learned it was done by explosions. Why did they change the management at the site. How many miners are under their employ. If the street heard of any active start of processing this stock would move. Like those who were smart enuf to but GE and Citibank at almost bankruptsy levels, this could be an unbelievable investment if they can follow thru on any promises. The phony releases about the sale of the O& G division is very troubling. remember the east delta agreement etc etc. It is time for the company to make MONEY not antimony. All we can do now is hold and hope that this is not total BS. If it is, we can play petty's number when he joins Madoff and hope to hit the lottery in Bolivia.
It is disappointing that petty did not name the company that owns the mine and we have to try to get info from the net. It is also suspicious that the company announces a contract before it is a signed deal. If you accept the terms, you should just sign the darn contract.Also it would be nice if we has an inkling of the amount of tonnes that are available and what kind of production per week they expect.What is fmnjs share etc.
Why is the company investing in antimoney. Shouldn't they be promoney..... Oh that's antimony, the battery stuff that makes the eveready rabbit happy. Never mind. I thought the last thing a rabbit needs is something to make him hard..... Now it would be nice to get some production figures. How many tonnes of rock can the mine produce per day. How far is the processing plant, what is the cost per tonne of production, how many miners does the comnpany employ, how far is caraculio from Lsa Paz, why does the San Antonio people need Franklin to operate the mine? Show me the money not the antimony.
Well said. we need some real news that processing has begun whether it be with an off site plant or at the Escala. The time for fluff releases is over. Positive news now from management, will do wonders for the psche of old and new potential investors.