Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Did some quick due diligence of tssr and it does not seem to be a good fit or fit the profile for the gtl project. Petty had mentioned in his memo that he has had discussions with a major international company. Good luck with your investment in tessera. I try to avoid companies that trade by appointment. Company also has a bad history with recent officer resignations nd a suit from the former ceo.
Is that a guess or are you basing it on some information you have obtained? Seems like a small sum uness it alsoincludesa piece of the profits like the bolivan gtl deal for 13% partnership.
In February 2007 Petty negotiated an agreement with Hugh Corcarro, governor of Terra del fuego Argentina, to build a 10,000 barrel per day gas to liquid (GTL) plant. Previously, FMNJ, had a 25 year guaraantee of the natural gas resources to be utilized at the plant. Petty traveled thereafter to Zurich Switzerland in order to achieve financing for this project which apparently was not successful. Now, more then a year later, the prices of natural gas and oil have exploded making this a very valuable concession if the underlying contracts signed by the Argentinians are still viable. The company's latest statemnets indicate they are still in the game. It will be interesting to see if they can finally culminate a deal for this important project.
40 gees. Sorry about that.Why are you laughin.
Petty interview on wallst.net today reconfirms the merger of the Bolivian gtl project as well as prospects at Escala. Also alluded to the Argentiana project as moving along qiite well. He sounded pretty relaxed althogh not much new information. He gives a time frame for significant events within the next 30 days.We will see.
Another large block today to the tune of 25 million shares. If a individual investor tried to buy 25 million shares on the bid, do you think he would find a willing seller. If this company comes through, some group is going to make a bundle. Is it possible that the same company that is buying the gtl rights is taking a sizeable position here while the market is in a state of confusion. Stay tuned.Still think it could be the Carlyle group.
Apparently they will only recover their expenses in setting up the project which may be around $100,000-150,000 for feasabliity studies etc is my best guess. The big news is that they will share 13% of the profits of the joint venture which can be major when the palnt is built. Again, if the company dong the JV is public, having fmnj mentioned in the news of a signed contract may put franlin in the public eye.All in all not a bad deal if they finalize the deal.
will be interesting to see what company is buying the gtl projects. hope it is a mjor company to give us credibility
Finally some positive news. The company sale of its Bolivian Oil & gas interest plus some cash and 13% of the action sounds like a good deal since they could never raise the 200 million to develop the gtl plant. Looks like argentina GTL , a more modest plant, is still possible. Finally some good news. Lets hope its a start. Will be interesting to see how the market reacts. GLTA
Approximately 23 million shares traded as of 3:50pm. I'm going to guess that 8 million will trade today after market based upun the activity over thw past two weeeks.Almost 1/3 of the days total volume trades after the close.
What do you think they are Really doing. Petty's April 24 memo to shareholders, approximately 2 weeks ago, promised a significant news announcement regarding the energy and gas projects in a few weeks. Meetings with government officials, multinational corporations to bring the projects to fruition , blah , blah, blah. When I first read the memo, I noticed that Petty needed the governments to reconfirm the original memos of understanding, a oxymoron or nonsequitor to say the least. This news announcement mentions that these agreements are still in place and in the case of Bolivia, was the first government contract under the new regime. What do you know or hear?
At least we still have friends at the Commie Bowl according to Pettys last video announcement. When is that game anyway? It may be time to puntit.
The company has made the statement of intention to sell the Bolivia and Argentia oil and gas interests in the past without being able to effectuate a deal. With oil and gas prices at record levels, perhaps this time the company will be successful. The big question is how much money they can gain from the sale. Too many pr statements are made about foward looking events that have not come true. Its time to have a announcemnet of a fait accompli on a significant news event. The market just yawns as the company has lost credibility with most investors. The statement that they have decided to concentrate on Escala and Cerro Rico seems positive.
thanks for cheering me up. Excellent aanlysis as usual. Thank goodness we have a lot of smart people here to help with investment decisions to buy , sell or hold.
The mystery here is who is selling at these levels. Originally I believed it was the company; however, most companies would try to do private placements from treasury shares. Now I think there may be a more sinister seller. We never got an expalnation for the sudden departure of Jaime, who, aalong with Petty owns a sizeable amount of shares. Could Jaime be the seller as our Phillipino friend has previoulsy suggested. Considering what the company has potentially in reserves at Escala, the gtl projects, and the future cerro rico liscense, it would seem that this stock is seriously undervalued no matter how many shares are outstanding. It is always darkest begore the dawn. It is also surprising that the company has beem particularly quiet as to current prospects. Surprise news coming???
How much is the bail for nybob. fmnj tanking and he missed the popes visit
What video are you referring to. Are there any videos of the famous coochie coochie girls of La Paz.
Can you explain what G&A is and where did you find the $3.5 million number. When I looked at the financials it seemed that the company had no cash on hand at the end of the year.
Traded in frnkfort this am 500,000 shares at .002 which is .003 US. Grasping at straws as the stock is trading at bargain basement levels based on market cap. Need news of Escala development for starters.
Actually the whole industy is underperforming.Surprise news flash. FMNJ traded 7.5 million shares after market again. These preprogrammed trades are what is holding the stock back . I still believe it is the company raising money at a set price to an investor. Gotta pay the rent.
I am disappointed that Petty did not issue the memo he promised to release early this week updating Escala. The announcemnent that the La Paz processing plant was not yet operational answers the question as to why processing has not yet begun. That being said, it will probably be some unexpected news that will reverse the down trend eg: a new government deal on glt; a major financing deal with a private company or World Bank agency; an expansion of Escala into E2 and E3; a assay report of high gold and/or silver reserves. At least we survived May Day this year. OT: getthem- Since we have no control over the buyers or the sellers, things have to take their course.
Sometimes it is better to die than to survive as a vegetable.. Maybe they should film Survivor episodes in Bolivia.lol
Thanks for the link. I was able to access the Petty Interview which required signing up to Wallst.net. He gave an update on Escala processing and a slip of the tongue where he incorrectly said the company has found platinum ,when he meant silver, and didn't clearly correct himself. They now have the results for the second sampling that was evaluated in Canada. Generally he stated that results of assays so far have surpassed their original estimates. I expect they will make a wrutten announcement soon as to the acrual results. As for the production, it seems that the company had to refurbish the La Paz facility which they hope will produce 50 tons per day initially. He hopoes to have either or both the pilot on site plant and Escala ready for production within 30-45 days.Petty should relaese a memo to clarify injstead of using the format of a 3 minute interview which obviously is a vehicle to tout the stock.
While fmnj is leasing rather than owning the Escala and Cerro Rico properties, the perception of the Street on Nationalizaton, which brings up thoughts of Castro's Cuba, certainly has an effect on the demand for fmnj shares in my opinion.Bottom line here is that if the information of the asset value of Escala is true, and /or Petty can pull off a liscensing deal for the gtl projects in Boliva and/Argentina, the shareholders who stick around here will be in real good shape. Hiring Dunn, a smart geologist who seems to be taking an actice role in the mining infrastrusture and equipment buidup at Escala, seem to lend credence to the company's legitimacy. Yhe fact that the stock price is not confirming this evaluation may be due to the company's need to dilute shares to pay for the cost of operation. The key to a reversal of the negative momentum will be whether the company can generate cash flow from Escala and deals. The news I most want to hear is that the company is actively processing the ore.If the company makes money , they can buy back part of the huge float for a relative pittance based upon current market cap and the price would soar. Just a little specualtion to ponder. Have a nice weekend. Please tell the coochie coochie girls I unfortunately cannot make it this weekend since gas is over $4 a gallon and I need to sell around 3,000 shares of Franklin to buy one gallon or 60,000 to fill er up.
Another 5 million share after hour trade at the bid. Looks like the mms brought it down to accommodate the pre arranged trade. One day this stock will be off the pinks and not subject to mm manipulation.
Sil hit a low today and now seems poised to move from 9.83 low back over 10 bucks,probably on word their holdings of silver mines in Bolivia are secure. Same for cde which fell below 3 and looks ready to rebound. Franklin may be next to finally bottom. Nice thing about bottoms is that the move off a bottom is usually a nice one.
Having barely survived a May Day Massacre a few years ago, this communist / socialist holiday always gives me anxiety. I imagine everyone is off from work including the miners and the coochie choochie girls( at least till tonight). We seem to be in a holding pattern here as we wait for some positive news.
Watching Market Maker activity the past two days. It looks like there is no inventory for sale. The amount of shares being crossed eg. trades going from a buyer to a seller for a spread of .001 seems to be increasing. Under these circumstances that stock looks thin so that any strong buyers on some good news will have to pay up to find a seller to accommodate the trade. A few million share blocks could move this stock up substantially from these basement levels. Thats my take. Cmon Petty. Make a deal.
Petty indicated that he would put out a memo this week. I hope we hear an update on the sddditional sampling and some news on the processing. Stock volume has been low this week indicating that the selling has abated at least for a while. I believe that Petty is working hard for a gtl deal that will include some immediate payment to the company to get the balance sheet up to snuff. It is very important to show some positive results to bring in new investors.
I noticed that too. Sometimes the MMs make a large spread since there is very low volume and they want to rip off the seller, buy the shares themselves or cross them with a higher offer. At these levels, even with this modest move, it is far too early to congratulate those who may have caught a bottom. IF there is something brewing, we should see a big % move on low volume. The buyer who may have heard something will have to pay up befpre the news is announced. Things should get interesting. Anyone following level 2 for clues?
Who know what evil lurks in the heart of man....The Shadow knows...
Like Dr. Frankemstein said to the monster, "It's alive, IT"S ALIVE.!
meanwhile cde has broken 3 on the downside after being over 5 two months ago. largest silver producer in the world i believe.hope ewo is not going crazy on may 1. los indios trabajaros.
I hear size doesn't matter to the coochie coochie girls. You are acting Petty and we are well Dunn.
not to the coochie coochie girls I hear. I said direction with a d.
stock is absorbing a lot of bid sells. I think there is a buyer out there and suddenly the stock looks like it is under accumulation. Baby steps before giant steps and 18% or so is nothing to sneze at. It is direction that matters
Your post made me do a little search for pr firms and guess what, I came up with 2 new pr firms that appear ready to recommend the stock. Check out Benchmarkjournal.com and maybackfinancial.com. Both companies have indicated in a knobias report Wednesday and Thursday that they are evaluating fmnj. If the company is not paying them, and they have a following, the stock may have a upwward pop here. As far as I know, Andy Austin firm is not getting any stock at the present time and if they did I doubt they would sell here unless they believed the comany was totally a sham. If fmnj makes a profit this tyear(not impossible) the believers here may be very ricj=h dudes. Its happened before.
I think the company is not selling shares at these levels and maybe close to a financing deal if you read between the lines of the Friday letter. If I were the company I would try to buy back as many shares as I could up to .005. At these levels I think they are smart enough to take some positive action to increase shareholder value as well as the comapny's net worth.That being said the .0011 bid was very disheartening.
Cmon baby light my fire. The time for hesitation's through.
I am a gntleman an a Escala.