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Not sure what part of this announcement is most important: 1. Reaching the aguilar vein or the fact that trucks are ready tio roll to the processing plants.
POS stands for :Petty Over-the counter Stock broker.In fact it pretty much decribes all the market makers that trade this stock. Nite comes right after Day. good luck. Hope this clears up the confusing anagrams.
Let's hope that the next news release will be something substantial relating to actual income. GTL contract, a successful oil well drill, or actul processing figures and or a new plant at Escala would do the trick. TRhat should be vfollowed by awesome volume as people try to get in. As I said, Let's hope.
SIL is filing for Chapter 11. Stock didn't trade today.
Before you give such sagacious advice it might be important to understand what a reverse split is. If you have 5 million shares that you bought for $500 at .0001 and the comapany does a 2000 to 1 reverse split as you suggest, you would have a total of 2500 shares not a billion and the stock would be priced at 20 cents bid(2000 X .0001).By the way, the announcement that the company wants to buy back the shares in the open market indicates that the company is not looking to reduce the outstanding shares via a reverse split.Good luck and thanks for your input.
But you forgot the next line in the song.......you load 15 tons and what so you get? Another day older and deeper in debt. St peter dont you call me cause i wont come... I owe my soul to the company store. ...I hear that Petty is playing the tune at the canteen at Escala for the cooperative workers. Sign at the mine... Produce 150 tons an hour or look for a new job.
You load fiften tons and what do you get..............?? The answer my friends is blowing in the wind. Anyone remember the rest of this great Tennessee Ernie Ford tune. Its probaly on utube.
Or llamas with hemmoroids.
Doubt it was the company since they have not yet finalized the money. The question is who can be on the sell side.
100 million at .0001. A 10,000 dollar trade.Agreed not a good sign. I am still mystified where the shares for sale are coming from if not the company treasury.
The 150 ton per hour announcement must be a mistake aa per day is the thing taht makes sense. That is a 50% incerse daily in production from the original projection of 100 tons per day. Not too bad since a weeks production would equal all the ore mined so far waiting to be processed. From the interview, Petty seems to say the ore is high in zinc. I will be interested in seeing how much zinc per ton is processed. That will gove a good indication of future revenues. Maybe someone here can extrapolate the numbers by the amount of zinc found in the samplings Petty announced.
Too risky and expensive. Stay away it's not for you.
I believe that the sec requires some sort of filing of a companies intention to buy back shares, revealing a % of the shares. If in fact this selling swoon was caused by naked shorters, we could see an amazing short squeeze that would cause a big spike in price. This can start at ny time and thw shorts have to ba a little uncomfortable. Houston oil money may be involved too and may relate to the 2 wells Petty said would be drilled this month.I'm looking for a possible gap opening tomorrow as the available stock for sale shrinks.
Let them eat porshe or borscht
If vert is the market maker for the company shares as many suspect, they would probaly stay on the bid once they get the go ahead to purchase shares for the buyback. I also think that sec rules may require the company to state how many shares they intend to purchase.
The 2 news items today probably explains why the company and the pr firm was incommunicado. Capital for the mine is major and 150 tons per day(if that is what they meant) seems to be pretty significant. The company seems poised to finally fulfill all the promise.
Sorry John you are the man amd I look forward to you getting a seat on the Board of Directors when you own !0% of the shares. Thanks for setting me straight. I humbly apologize for doubting you. Wow you own over 100 milion shares. Geez that has a current market value of $10,000. When you sell 50 million at 3 cents you will clear 1.5 million and you are cool enough to let the rest ride. Bravo. What seat on the board are you going to run for? I think the company needs a good chief financial officer and your investment acumen seems to make you well qualified for the position. Good luck and please don't be mad at me.
In Petty's 3 minute wallst. net interviw on Dec. 17, 2009, he stated that the company will have sales revenues in the current quarter He has met with the vice president of Argentina in an attempt to concluse the gtl deal. As for trading of the stock, you must understand that most of the shares sold have been to vendors and big investors. Most here will tell you that they never get shares on the bid and cannot get filled on a large order onm the ask side. It does not take an Einsteinian intellect to understand that the current price reflects that survival is tenuous due to liqiudity problems. That being said, there seems to be a core team of active managers, Dunn, Infante and Baker, who are working hard to make the company successful. If things are working out, there should be a corresponing move in the stock.
Your claim to own almost 5% of the shares here is obviously overstated since it would be impossible for a investor to accumulate a half a billion shares in the open market without seriouly affecting the share price. To make such an investment without doing enough due diligence to get annual reports and read the bylaws and speak to the company would be totally irresponcsible. Just wanted to set the record straight since investing is serious business and we do have some good and thoughtful posteres on this board. Plese don't bother responding since there is nothing you can say that would have any credibility with me.
The last word on the plant came at the end of December in the wall st 3 minute video which can be accesed on this page. I will be very disappointed if Petty does not comae out with a status report in a memp or in a news release. Not much choice but to give him the benefit of a doubt. Not too many here should be interested in taking a hundred bucks for a million shares. Rather lose it all.
I noticed that when a trend is established in commodities, it often remains in effecr for a while in a one way move. Problem is the world is suffering from deflation. Only good for the starving masses as food is coming down too. hopefully you will see 12 plus soon. ggod luck
The positive is that there are Cooperative workers mining the rock and they are slowly building a infrastructure to support mining. The obvious negative is the failure to launch the processing in situ or even at another plant. My guess is that Petty will be forced to address this soon with shareholders , one way or the other.
I wonder if there is any symbolism in the naming of the three tunnels after women. Wonder who Patty, Shirley and Lavrne really are? Are they the wifes or children of company execs? Until they announce the long awaited processing news, it looks like all we are getting is the shaft. Reading between the lines, it appears that Dunn's search to insure gas supplies to convert by the plant is somewhat promising. The failure to address processing while focusing on new production is very disappointing.
Everyone here would like to see some real news as patience is wearing thin on the promise of the shipping of the pilot plant and trucks to Escala to start to process the 1000 tons that have been mined. Once there are some figures announced, I hope it will be possible to estimate the approximate profit the company can generate per ton. A upward move by silver , coupled with an announcement of cash flow from processing can be the catalyst to move this stock which seeems to be set in stone. Senor Petty, tell us the news.
Royal- No need to mention that Bolivia is a socialist county governed by an indian who has a view of capitalism as imperialsitic and exploitive of the native population. Hiring Bolivians from the cooperatives and forming alliances with Comibol along with charitable works is probably the most important way to gain future contracts and make the present projects profitable. In my opinion this is money well spent.
Great find. Pretty nice pr from the company.
The link is on this homepage. 3 minute wallst.net interview provided by royal.
Maybe good for fmnj as they are the main competitors. Maybe we get some of their property. Who knows in this crazy world.
SIL crashes 50% on word of delisting from nyse and a move in january to otc. Going concern issues
Just listened to the link you provided to the wall st December 17 interview. Petty stated 2 25ton trucks, a compressor and a 100 ton pilot plant will be delivered after as the new year begins. Also claims a couple of wells in Abilene will be drilled in the 1st quarter, and that there is a oil and gas website. If you have the link to this new website I would appreciate it. Finally reaffirmed that the gtl project is still viable. Like you say, we don't have much choice other than to stay the course and hope the new year shows actual production. Happy New Year to All.
I see you updated the home page. nice job on the current projects.
On another note, those who think that a purchase at .0001 is as low as a stock can go are regretfully misinformed. If you are unhappy with your purchase at .0001 as a buyer, try to sell at .0001 as Den did and you wilol have a push. last time I played black jack, a push is better than busting.
Nobody is buying and everyone is selling. Hmmmm. Who do you think took the 65 million shares the Denster and his group sold over the last week and a half? Their account was credited with a $6500 sale of securities. Correct me if I'm wrong but doesn't there have to be a buyer for every seller? Now while those who sold are pondering whether to get in again after 30 days, maybe the company will withhold importnat news when the new year starts to let them back. Maybe we shpild ask the company to ring a bell so we can all start to buy before there is a run up.Meanwhile sil is up 150% from its yearly low.
You have cogently expressed the frustration of shareholders for Franklin's failure to generate income from mining, Texas oil wells, or a gtl deal. In fairness to the company, this has been a tough environment for all companies and many bluest of the blue chips ,such as ge ,have fallen by the wayside. The question for most companies and world citizens, at this Holiday season ,is survival. I for one do not believe that this company is a Ponzi Madoff type sham. The Escala project remains the best hope for some cash flow and I look forward to the update from Petty. If the company does survive, the current price will appear to be the buy of the century. The question is what century. Hope your other ventures such as the Sierre Leone gold play pans out for you. You were and are an intelligent poster who I hope will continue to chime in even though you no longer have a position. Happy Holidays and best wishes.It looks like a lump of coal is the present de jour for most of our Christmas stockings.
Once again you are igneous.
Remember when a billion was a lot of money or shares. With the government doling out millions like candybars, a billion doesn't seem so bad. Its only a thousnad million, a mere bag of sheels for some like senor madoff who prounnces his name made off. of course.
Things are definitely looking better in the mining industry. CDE and SIL have bothed moved up more than 100 percent off their yearly low. The lower end companies such as franklin often follow a move by the leaders. Hopefully a nice move will precede the update on the Ecsala project. Have a wonderful holiday season. Even when things seem grim, it is good to count your blessings.
You didnt have to throw more money down this sink hole (er investment) in order to be on this board. Just ask BOS All you have to do is claim you invested. A word of caution for the forensic accountant also. Pinkies can and do trade below the .0001 level. Oh Oh OH its Bonamos..........Candy. Stock looked pretty good today.Or as Larry David would say.. pretty pretty good. I hear the Madoff is All In on this baby. He shoulkd know since he Made off with all the money. Have a good nite all. That's all folks!!!
In my opinion all of the buyers here are insiders and vendors and none of it is related to tax selling. Very few have capital gains to offset and if you asked an accountant he would tell you that you can write off the entire position this year without selling since the stock is basically worthless. My guess is that no one on this board has sold a single share at .0001. The shares that are for sale are all coming out of the company's treasury. Likewise I seriouly doubt the claim of a 100 million shares purchase for 10 grand posted yesterday on this board.
LOL. I noticed Tonys comment but I can't get into video since I mistyped my password. Did he say anything aother then the same old gtl negotiations are in progredd and the ore is mined and awaiting processing. Anything about trucks or processing plants.