Franklin Mining, Inc. (FMNJ)

[vozmil]

Accompanying the dreadful RS is the news that a local company has agreed to finance the development of Escala mine. I have following observations.
1:- We were told that Mr. William Petty has got into JV partnership with a Saudi Group who were supposedly to provide the required financing. We believed the news since Saudi's have generally deep pockets. Even Mr. Petty offered that company CEO position as part of an agreement. So Mr. Mustaffa Dar became President with Franklin mining, representing the interests of that Saudi Group. I have recently seen LinkedIn profile of Mr. Dar as around 30years old young man and CEO of some Private Chartered Air Line. It shows his position as President of Franklin Mining too. By now this new partner was supposed to provide financing for the Escala project. Some body need to answer and clarify this contradiction and tell us what FMNJ has got out of that JV partnership. Has Mr. William created a front man to do the dirty work? Contrary to that what we see today that another company headed by another Texan has reportedly agreed to provide all the financing. Is this Press release already destined for dust bin or has any substance? Time will tell that. But we are now used to take every bullish statement from our Charmain with pinch of salt. Keeping the share structure same after the RS does show the intentions. All the talk about the increasing visibility of the company is BS. After this RS our holding will shrink from Millions to couple of thousands and after next RS we will be eliminated all to gather. Already quarter of share holders if not half will be eliminated this time. They bought the share and believe the words of Mr. William that under his Chairmanship there will not be any RS. But promises are made to break them and he has done that for a long time and there is no end to that.