FMNJ - Cerro Rico - main veins - I like to see FMNJ on the LT - will catch up to CDE -
Franklin Mining vs. Coeur d'Alene Mines Corp. - - Year 2006 -
FMNJ - has been the year 2006 strong winner - in the Silver Mines performance - race -
FMNJ - if the started performance trend continue - for Franklin Mining in 2007 -
I would consider suggesting - President: Jaime Melgarejo, Jr. - to be the mining man of the year 2007 -
Franklin Mining *** NEWS Cerro Rico Mine *** - Development Plan - Is Progressing Towards Completion -
Est. 1864 -
Franklin Mining Announces Cerro Rico Mine Development Plan - Is Progressing Towards Completion -
Franklin Mining, Inc. - FMNJ - announced Oct 24, 2006 -
that their developmental plan of the Cerro Rico Mine - is progressing towards completion -
In early 2006, COMIBOL, The Mining Corporation of Bolivia - and Franklin Mining - signed a contract for the area containing the five veins of the Cerro Rico Mine - the world's largest silver deposit.
As agreed in the joint venture with COMIBOL - Franklin Mining - is investing $140,000 (USD) in a developmental plan of the Cerro Rico Mine -
The plan is scheduled to be completed mid-December 2006 and accomplishes a variety of milestones including confirming the location and quantity of veins, ore sizes, and mineral values, environmental study, confirmation of the required investment, advising proposed scheduling and methods of works, prospective costs - and profit margins.
"We have been working towards the completion of this study for the last several months and we are excited at the progress that is being made towards completion," declared Jaime Melgarejo, President of Franklin Mining, Inc.
Upon review and approval in mid-January 2007, Franklin Mining - will move forward with the commencement of their production plan and COMIBOL will participate with Franklin Mining - on a 50/50 profit basis - after FMNJ got repayment of capital -
For more information about the Palivari II Project - in the Cerro Rico - and other projects - please visit our website at
The Cerro Rico Mine - is considered by many to be the richest silver mine - in the world. Rich in zinc and silver - it has been actively mined since the 1500s and is in operation today. Cerro Rico - is owned by Bolivia's national mining company, COMIBOL.
About COMIBOL:
COMIBOL - is the government-owned mining company in Bolivia. COMIBOL - owns the CERRO RICO mines - as well as many other properties - and mineral rights in Bolivia.
DISCLOSURES:
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995---- expressed in any forward-looking statements made by, or on behalf of, Franklin Mining Inc.
Source: Market Wire (October 24, 2006 - 9:15 AM EST)
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