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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.
Check out NYBOBS u tube of the mining at the great Cerro Rico mountain and you will really appreciate the efficiency of the mining operations in Bolivia where lung disease is an occuptional certainty. All that valuable silver and each ton is lugged out by dangerous carts that barely can stay on the Rails. There gotta be a better way to do this.
Oh ye of little faith. Why would a mining company that is operational ask a mining company trying to become operational to manage their mine? Stay tuned. Maybe someone can come up with a list of companies that are mining in Bilivia so we can guess the name of the future partner. I thought most of the mining was done by the cooperatives.
There is a reality TV show about this crew. Ever see " The Biggest Loser". I think the movie version was called "Ship of Fools". You do not have to invest your bubble gum money to have credibility here. In fact, if they still gave away players cards with the bubble gum that would have been a far wiser investment. I think the troika, getdemmart, has now accounted for approximately 300 million total shares. Unfortunately, in this day and age, that does not qualify as too big to fail and hence no Federal bailout. Gopd luck to all since all here are Totally Busted
I was referring to Mart as the largest private shareholder. Sorry the sentence was confusing. I do not make it a habit to publish what I own since I do not believe it is relevant to a discussion of the merit of a particular holding. I also believe that dendiamond has a large share but his may be held as part of a group. 100 gs buys up a billion shares at these prices. If you could lend me around 99,000, I would be very appredcaitive and will give you all the credit when the stock runs.
As the largest private shareholder, I have to take your comment as self effacing. Don't be so hard on yourself.
As a tear rolled down Clarabell's cheek, he spoke for the first and last time to the Peanut Gallery on the last Howdy Doody Show. That was a fond memory. While I too will miss the Coochitas, I think I miss Clarabell more. What were his last two words? Hint: It was not BUY Franklin.
Let me recommend a few names for you to try my frenetic friend. Lexipro, Zanax, and maybe a little Librium. You may also want to go to the library and check out Scarne's Complete Guide to Gambling. If you are so successful they you go into a small stake all or none poker game and turn 100 into 500, I suggest you quit your job and make a living as a professional gambler. I know some people that can stake you and maybe you can win the World Series of Poker. After that, who know, you may some day own your own casino. BTW if you research fmnj you will see that it has a socialist agenda with regard to Bolivia.
I didn't say it was crazy. You are investing your profit so your basis is zero. The only trouble with your thought process is that the money you "made" is actually yours and if you lose you will have lost that $7500 but in any event it wont hurt too bad. Kinda like going to a casino and being "up" a few thosand dollars and tnen giving it all back and an extra thousand to boot. It is not devastating but it sure doesn't feel great. Once again good luck. We need more Don Quixotes in todays desperate age.As they use to say : ya gotta be in it to win it.
Checked out your portfolio. Interesting investment decision to invest around $5,000 into some promising Pinks that are tradong in the thousandthe of a penny level and hope that one or more will hit. I have heard of crazier ideas that have been successful and you are certainly young enough to take a hit for $20 grand or so and not being mortally wounded. Good luck to you whipersnapper. One word of caution: Euphoric pronouncements on message boards hoping to pump some life into stocks no longer have any effect in these trying times. In fact, the history of great moves by these types of stocks when some of the best names are now little more than penny stocks, eg. cit, aig, et al, does not suggest that you are ready for a near term reward. Another problem is that if you get a move, are you smart enough to take some money off the table or will you feel so immrtal that you will let it ride back to oblivion. I'm sure you will keep us all posted. Good luck amigo.
As Roseanna Danna use to say: Its always something. Obviously the preliminary assessment that the Escala mine contains $687 million in recoverable lead , silver, and zinc at current market prices is very impressive. That leaves the $64 dollar question as to how much money it will cost to produce and process these metals and how long will it take to get it out of the ground. Giving them a 10 year time frame, por ejemplo, they would get 68 million per year less the cost of production. Even if the production costs was 50% they would still net $34 million a year which would give this company a positive PE ,albeit a high one, considering the onerous amount of outstanding shares. That being said , I am somewhat encouraged but the key will be the production costs report. Finally, I would like the company to clarify how much, if any, metals are being processed. That's all folks.
A typical convoluted announcement. If the cash or shares are to be paid to the shareholders, how does the company use the cash to build the Escala mine. Pre announcements almost never come true. Also is the gtl project part of the O&G division or is it only the Texas wells? He says the division has no assests so what is he selling in Texas? It sounds like the movie There will be Blood and someone has taken a straw and drank our milkshake.
Just figured out why Billy Bob is having shareholders take stock instead of doing a money deal. He owns probably some 2 billion shares and will get a huge amount of shares based on a pro rata distribution. Still don't think it will happen.
I still prefer the French Ditty: The first marine ate the bean parlez vous......inky , dinky parlez vous. Not only are we under water here, but the subamrine is soiled. Forgive us NYbob, we know not what we do.
Hare... hare khrishna...... hare ... hare. I have shaved my head and taken an oath of abstinence from all but the choochitas Comr to think about it, all the investors have alresdy joined a Christian order. The stock has made all take an oath of poverty. Remember the only thing money can't buy is ....poverty.
Hallelujah
Went to the Rev's website. He is apparently a devotee of Holistic medicine. Have a friend who is certified in Reiki which is a form of laying on of hands to impart your energy source onto others. I suspect that as the World situation worsens, more of the fringe Hari Krisha (Jim Jones) types of groups will find a audience desperate to believe. I for one enjoy the religion of the Coochies, who practice a unique form of the Kama Sutra known as Tantra. In the end we have only ourself to blame when we didn't see that NYBOB is just a continuum of the spectrum of man's ill conceived search to spin the wool from a baby llama into gold. Even if successful, we would have been shut down by PETA.I'm preparing a sandwichb board sign to wear procaliming that the Appocalyse is Here.
Where is that written Reverend. (By the way are there any non spiritual ministers? )It seems like you are referring to Jesus' advice that the meek shall inherit the Earth. Your hope for rapprochment between the races and the peoples of the World suggests that you feel the human trait of greed and self interest can and will be overcome. I respectfully disagree and point out that billions of people have been born, walked the Earth and died since Jesus made that prediction. You think the odds are those alive today will break that streak. Of course, not many believed that it was possible for the US to elect a black President until it happened. Keep the Faith.
In these very difficult times for the US and the rest of the world, it is difficult not to maintain a sense of forboding , skepticism, and gloom for the future. The dissatisfaction expressed here for a mere pink sheet long shot is mirrored by investors who purchased at high prices the likes of AIG, the largest insurance company in the U( .50 cents); GM, the largest US automaker(1.50) etc etc. Not too mention those who invested in the cash engine of our economy the great financial institutionssuch as Citibank, the largest bank in the US (1.50) The very symbol of the stock market, the great Merill lynch failed and was absorbed by Bank of America. To paraphrase the Old Philosopher,Bunky , " you think you got problems, Never. Never Give up the Ship." Don't Cry for me Bowleevia, the truth is we never trusted you. you broke your promise , we kept out distance, you broke your promise. I heardd a rumor that they were setting up a yard sale at the Escala.
A long weekend.
I think that investment decisions should be made based upon the information you have as well as your guess for future of the company. This announcement only states that the company has decided to sell a division and that it has an offer from a oil company that it has tentatively accepted. Legally of course this is hog wash. You cannot tentatively accept an offer since all the terms have not been agreed to. Since there is no deal yet, why would the company make this announcement. I think they are trying to talk up the stock but even if the deal is finally signed, it does not seem that it will be a windfall for shareholders. They previously announced about a year ago that the company was selling this division. How much money or shares do you think someone would pay. What are they in fact selling? I need more information to make a decision as to whether to buy more. Many here have already decided not to sell at this level. I rank this a hold for now.
His left hand is in my pants pocket and I don't enjoy pocket pool with a Texan.