It is a strange that FMNJ is 2.86%up today and all other underdeveloped silver miner are in deep red. Even SIL is 2.74% down. Though both SIL and FMNJ are on down ward slide from early to mid highs in Nov.
Your analysis is right and I see the latest political upheaval has not even accelerated the trend.
Saudi Princes Rattled, Shifting into Gold - Ex. Saudi princes, who control 70% of the stock market in Riyadh - have been bailing out of local stocks and moving funds into Gold since early October -
Its more than Saudis 200 princes who want Gold for oil - and not the old bucky -
compared to Gold & Silver the only Real Money for 1000's of years -
The higher Silver & Gold price may be a Blessing for the miners of Cerro Rico Silver mining -
Its your pick were you want to go -
Btw. Judge for yourself and then decide whether you wish to join the strike. WE ARE CHANGE!!!
Franklin Announces Cerro Rico Holds Over 33 Million Ounces of Silver, Fourth Vein Shows Potential Reserves of Over 11 Million Franklin Mining Announces Cerro Rico Holds Over 33 Million Ounces of Silver, Fourth Vein Shows Potential Reserves of Over 11 Mil
By: Aaron Reed Aug. 1, 2006 11:30 AM Digg This! LAS VEGAS, NV -- (MARKET WIRE) -- 08/01/06 --
Franklin Mining, Inc. - (PINKSHEETS: FMNJ) is pleased to announce today the significant value estimated by the COMIBOL reports on the Cerro Rico Mine reserves. It is believed to hold over 33 million ounces of silver. San Pedro (the fourth vein) reserves are projected to be over 11 million ounces of silver.
The results were provided by the combined reports from COMIBOL (Bolivia's national mining company).
According to the COMIBOL prospective reserve reports, San Pedro is believed to contain approximately 11,937,569 tons of ore, 208,320 kilos of silver and 62,496 metric tons of zinc, roughly 7,346,196 ounces of silver and 137,741,184 pounds of zinc.
This partnership encompasses the four veins of the famous Cerro Rico de Potosi Mine (San Miguel, San Pedro, Mesapata and Alkco Barreno). The Cerro Rico (located southeast of the city of Potosi, Bolivia), under COMIBOL's ownership, is considered the world's largest silver deposit and one of the most popular tourist attractions in Bolivia.
The four veins are projected to hold over 5.5 million metric tons of ore.
The combined estimated reserves are about 938,130 kgs of silver, 250,004 tons of zinc and over 72,377 tons of tin, yielding approximately 33,018,564 ounces of silver, 550,784,040 lbs of zinc and 159,518,908 lbs of tin.
"The Cerro Rico history's most fabulous silver strike, changed Bolivia's social fabric 450 years ago. Now, thanks to modern mining, it may do so again. Legend has it that enough metal was extracted from the deposit to build a bridge of silver from South America to Europe. 'It is an impressive amount of mineral wealth,' Roland Jordan Pozo, secretary general of Bolivia's association of medium-sized miners, said. 'Industry officials say the deposit could vault Bolivia back into the vanguard of global silver production.'" www.latinamericanstudies.org/bolivia/silver.htm
Metal prices today show silver at $ 11.38 USD per ounce, tin at $3.78 USD per ounce and zinc at $ 1.52 per lb USD.
Franklin Mining, Bolivia S.A. (a Bolivian corporation) is a subsidiary company of Franklin Mining, Inc. COMIBOL is Bolivia's state-owned mining company.
For additional information on Franklin Mining, Inc, please visit our web site, www.franklinmining.com. To receive Franklin Mining news by e-mail, please send contact information to info@franklinmining.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.'s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining Inc.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining Inc.
Franklin Mining was the first US mining company received - a Cerro Rico mining agreement since the Spaniard mined it -
Btw. the drilling of COMIBOL has been at shallow level - and its still more than 12000' down to sea level - SA gold mines goes down to more than 20000' bellow the sea level with todays mining hi-tech -
the gold and silver veins aren't est. from the moon - the values most often increase with the deepth - the deeper we mine the richer the veins become - is most often the case in most mines - ex. Cerro Rico -
WHAT MADE CERRO RICO SO BIG?
Cerro Rico dominates the town of Potosi, and its Ag production has never been matched.
When one compares Cerro Rico to other BPV deposits, three features stand out as being exceptional:
* The phenomenal silver resource. Cerro Rico has produced almost five times more silver than any other BPV deposit.
* Development of a thick acid-sulfate lithocap. The acid-sulfate lithocap at Cerro Rico is at least twice as thick as any other described from a BPV deposit.
* Development and preservation of a particularly deep zone of oxidation. This is almost four times as thick as any other developed at a BPV deposit.
The extraordinary richness of the Cerro Rico silver deposit is not due to weathering processes - as is the case with many of the Tertiary porphyry Cu deposits of northern Chile. Instead the enrichment of Ag must be related to volcanic-related processes. Recent studies of melt inclusions have shown that the magmas at Cerro Rico were highly fractionated and enriched in incompatible elements such as Ag and Sn.
However, fractionation alone is unlikely to account for the unusual abundance of silver at Cerro Rico.
Critically, the combination of accurate dating and the use of stable isotopes – both based upon excellent field and petrographic observations – allowed us to observe that the mineralizing episode was protracted, by comparison to other deposits related to processes in the upper parts of volcanoes.
Our studies suggest that it was this exceptional duration of magma-related hydrothermal activity that was perhaps the critical factor.
It is probable that this was sustained by multiple injections of fractionated Ag-enriched magma from a deep reservoir into a high level magma chamber underlying Cerro Rico - (Au & Ag treasure chests - well protected)
This work has now been accepted for publication in Economic Geology - and has also been the subject of an article in - the last issue of NERC’s public bulletin - Planet Earth.
DEVELOPMENTS IN UNDERSTANDING LASER-INDUCED S ISOTOPE FRACTIONATION -
Laser heating of sulfides in the presence of O2 - a technique pioneered by ICSF and SUERC - with part funding from NSS capital budget - is the most commonly used method of in situ sulfur isotope analysis. Previous work indicated that a small, but reproducible fractionation of 34S/32S exists between the product SO2 gas, and the mineral. The magnitude of this fractionation varies with bond strength, as reflected in Gibbs free energy of formation. The correction factors are known for common sulfides and anhydrite, but not hitherto for stibnite and the sulfosalt minerals, which are important constituents of many classes of ore deposits. In our paper with Dr. Thomas Wagner (University of Tübingen: Wagner et al, 2002 - see Publication List) the correlation of ΔGo298 with the laser correction factor for the sulfosalts fits well with the trend previously established for simple sulfides. There is an excellent correlation between the fractionation factor and mineral composition, a parameter that does result in bond strength variations (e.g. mole fraction of PbS in sulfosalts), allowing estimation of the correction factors for simple intermediate compositions. Finally, bond strength also varies with variation in inter-atomic distances, and we have therefore investigated the behaviour of stibnite, a strongly anisotropic mineral. Our results indicate that there is a significant variation in fractionation factor depending on crystal orientation. The fractionation factor along the prismatic b-axis, which displays the strongest chemical bonds (as monitored by the shortest bond lengths), is more negative (-1.7‰) than along the other crystallographic directions (-0.7‰ to -1.0‰), in full agreement with theoretical predictions. Reviewing the manuscript, Prof. Mike McKibben (UC Riverside) said of the paper “…..it develops a very useful analysis and discussion of the significant effects of bond strength, solid-solution composition, and crystallographic orientation on the mineral-gas isotopic fractionation that is observed during laser ablation and isotopic analysis.”
Output
I have a strong commitment to the public dissemination of data, particularly through publication in peer-reviewed journals. I thank the many colleagues and their students who have worked with me through ICSF over the years.
Scottish Universities - Research Centre - Rankine Avenue, Scottish Enterprise Technology Park East Kilbride G75 0QF, Scotland, UK
Franklin Mining was the first US mining company received a Cerro Rico mining agreement - FMNJ has received the trust of the COMIBOL -
Ps. Barron's arguing in favor of a Gold Standard! -
Despite the lack of buying in India - after oiltanker's anchor ripping out IT-service - the selling by central banks and the IMF, and other manipulations of the market, gold is above $900 and the ETF's holdings are at all time highs and growing.
And, Barron's is running a series on why the gold standard is not such a bad idea.
Could pm's be in for another run up now that the mainstream is getting on board?
Monday February 18. 2008
Barron's
Economic Beat
"Greenspan Was Right: The Case for Gold, Part I -
By GENE EPSTEIN
"UNDER THE GOLD STANDARD," observed Alan Greenspan in a 1966 essay, "a free banking system stands as the protector of an economy's stability and balanced growth."
As you probably heard, a serious bout of instability caused by major imbalances currently plagues the U.S. economy.
So a free banking system under the gold standard must be just what the economy needs, if Greenspan had it right.
In that same essay, the future Fed chairman saw another key advantage to a gold standard. While taxing and borrowing against future taxes were the conventional ways government raised revenue, the abandonment of gold permitted a third way: "chronic deficit spending" effectively financed by the "unlimited expansion of credit." A gold standard would end that abuse.
But adoption of gold is not exactly high on the world's agenda. Accordingly, this first installment in my two-part case for gold began with Alan Greenspan's oft-cited essay (called "Gold and Economic Freedom") for a strategic reason.
Atlantic.com blogger Megan McCardle was wrong to call the gold standard a "terrible idea." But she was obviously right to point out that "so few economists [are] willing to raise their voices in support of" any version of a gold standard.
It might therefore help to remind readers that the most respected Federal Reserve chairman ever raised his voice in just this way as a seasoned economist of 40, in an essay that was brief but mainly focused on the right arguments.
Also, Alan Greenspan's 2007 memoir, The Age of Turbulence, adds to the case for gold, while incidentally helping to suggest why "so few economists" are gold advocates.
The long-standing alternative to gold is, after all, the central banking system, in whose service more than a few economists have found tangible career benefits. That may help explain why The Age of Turbulence never mentions the main point that Greenspan himself made in "Gold and Economic Freedom": that gold would protect the economy from the instability of business cycles. In fact, nowhere does he mention the essay itself. We can only conjecture about the omission in a book that is supposed to chronicle his intellectual development, and which otherwise mentions gold.
I conjecture that he found the argument an affront to his career as a central banker. Indeed, the same essay he buries down the memory hole aggressively indicts the Federal Reserve for playing a destabilizing role. We can regard the 1966 essay as representing his most recent thought to date on this point, since nothing else is available.
The Age of Turbulence does make an additional point in favor of gold not mentioned in that original essay: that a gold standard would prevent price inflation.
In the most disturbing, and valuable, section of this book, Greenspan sees an end to the era of tame price increases, beginning around 2030. He points out, first, that the benign "disinflationary pressures" from economies like that of China will have played out by then. And at the same time, inflationary pressures could be intensified by the fiscal "tsunami" brought on by retiring baby boomers.
He affirms that gold would check price inflation, referring to the "gold standard's inherent price stability." So why not support gold for this important reason? It turns out that, while the Greenspan of 1966 objected to chronic deficits financed by "an unlimited expansion of credit," the Greenspan of 2007 now accepts that very thing. "I have long since acquiesced in the fact that the gold standard does not readily accommodate the widely accepted ...view of the appropriate functions of government," he candidly admits -- namely, the "propensity of Congress to create benefits for constituents without specifying the means by which they are to be funded."
But to accept the government's power "to create benefits...without specifying the means by which they are to be funded" is effectively to endorse the government's right to finance its operations, not just through taxing and borrowing, but through the unilateral creation of money and credit.
On this point, gold advocate George Reisman observes:
"When the government need not obtain its funds from the people, but instead can supply the people with funds, it can no longer easily be viewed as deriving its powers and rights from the people."
So let us repeat Alan Greenspan's three main arguments for gold.
A gold standard will protect the economy from -- 1) the business cycles that have long burdened it and 2) the rapid price inflation that Greenspan sees as a future plague. It also will 3) prevent the government from raising funds through the unilateral expansion of money and credit that Greenspan used to regard as a plague on our freedom.
What more overwhelming case can possibly be imagined? For part 2 on this subject, read next week's column."
Thanks for those links on the Green span bob it proves this paper shorting of the metal, and in the not to distant future , one large default could bust this up.
I doubt they can ever make a large physical deliver on the outside it would expose it all, but it could happen, hope to see more people going with the gg etc -
Judge for yourself and then decide whether you wish to join the strike. WE ARE CHANGE!!!
Despite the lack of buying in India - after oiltanker's anchor ripping out IT-service - the selling by central banks and the IMF, and other manipulations of the market, gold is above $900 and the ETF's holdings are at all time highs and growing.
And, Barron's is running a series on why the gold standard is not such a bad idea.
Could pm's be in for another run up now that the mainstream is getting on board?
Monday February 18. 2008
Barron's
Economic Beat
"Greenspan Was Right: The Case for Gold, Part I -
By GENE EPSTEIN
"UNDER THE GOLD STANDARD," observed Alan Greenspan in a 1966 essay, "a free banking system stands as the protector of an economy's stability and balanced growth."
As you probably heard, a serious bout of instability caused by major imbalances currently plagues the U.S. economy.
So a free banking system under the gold standard must be just what the economy needs, if Greenspan had it right.
In that same essay, the future Fed chairman saw another key advantage to a gold standard. While taxing and borrowing against future taxes were the conventional ways government raised revenue, the abandonment of gold permitted a third way: "chronic deficit spending" effectively financed by the "unlimited expansion of credit." A gold standard would end that abuse.
But adoption of gold is not exactly high on the world's agenda. Accordingly, this first installment in my two-part case for gold began with Alan Greenspan's oft-cited essay (called "Gold and Economic Freedom") for a strategic reason.
Atlantic.com blogger Megan McCardle was wrong to call the gold standard a "terrible idea." But she was obviously right to point out that "so few economists [are] willing to raise their voices in support of" any version of a gold standard.
It might therefore help to remind readers that the most respected Federal Reserve chairman ever raised his voice in just this way as a seasoned economist of 40, in an essay that was brief but mainly focused on the right arguments.
Also, Alan Greenspan's 2007 memoir, The Age of Turbulence, adds to the case for gold, while incidentally helping to suggest why "so few economists" are gold advocates.
The long-standing alternative to gold is, after all, the central banking system, in whose service more than a few economists have found tangible career benefits. That may help explain why The Age of Turbulence never mentions the main point that Greenspan himself made in "Gold and Economic Freedom": that gold would protect the economy from the instability of business cycles. In fact, nowhere does he mention the essay itself. We can only conjecture about the omission in a book that is supposed to chronicle his intellectual development, and which otherwise mentions gold.
I conjecture that he found the argument an affront to his career as a central banker. Indeed, the same essay he buries down the memory hole aggressively indicts the Federal Reserve for playing a destabilizing role. We can regard the 1966 essay as representing his most recent thought to date on this point, since nothing else is available.
The Age of Turbulence does make an additional point in favor of gold not mentioned in that original essay: that a gold standard would prevent price inflation.
In the most disturbing, and valuable, section of this book, Greenspan sees an end to the era of tame price increases, beginning around 2030. He points out, first, that the benign "disinflationary pressures" from economies like that of China will have played out by then. And at the same time, inflationary pressures could be intensified by the fiscal "tsunami" brought on by retiring baby boomers.
He affirms that gold would check price inflation, referring to the "gold standard's inherent price stability." So why not support gold for this important reason? It turns out that, while the Greenspan of 1966 objected to chronic deficits financed by "an unlimited expansion of credit," the Greenspan of 2007 now accepts that very thing. "I have long since acquiesced in the fact that the gold standard does not readily accommodate the widely accepted ...view of the appropriate functions of government," he candidly admits -- namely, the "propensity of Congress to create benefits for constituents without specifying the means by which they are to be funded."
But to accept the government's power "to create benefits...without specifying the means by which they are to be funded" is effectively to endorse the government's right to finance its operations, not just through taxing and borrowing, but through the unilateral creation of money and credit.
On this point, gold advocate George Reisman observes:
"When the government need not obtain its funds from the people, but instead can supply the people with funds, it can no longer easily be viewed as deriving its powers and rights from the people."
So let us repeat Alan Greenspan's three main arguments for gold.
A gold standard will protect the economy from -- 1) the business cycles that have long burdened it and 2) the rapid price inflation that Greenspan sees as a future plague. It also will 3) prevent the government from raising funds through the unilateral expansion of money and credit that Greenspan used to regard as a plague on our freedom.
What more overwhelming case can possibly be imagined? For part 2 on this subject, read next week's column."
Thanks for those links on the Green span bob it proves this paper shorting of the metal, and in the not to distant future , one large default could bust this up.
I doubt they can ever make a large physical deliver on the outside it would expose it all, but it could happen, hope to see more people going with the gg etc -
Judge for yourself and then decide whether you wish to join the strike. WE ARE CHANGE!!!