Franklin in Talks for Significant Operating Contract - Thursday March 19, 2009, 8:30 am EDT
* Franklin Mining Inc.
LAS VEGAS, NV--(MARKET WIRE)--Mar 19, 2009 --
Franklin Mining, Inc. - (Other OTC:FMNJ.PK - News) (Frankfurt:FMJ.F - News) CEO William Petty has confirmed that he has been in talks with owners of an operating mine in Bolivia to assume responsibility for total operations.
With current operations generating gross receipts of approximately $2,300 per ton, Franklin would benefit immediately by assuming management responsibilities. The combined assets of two operations would benefit Franklin. The opportunity to share capital assets together with Franklin's professional services and other equipment on an ongoing basis represents potential significant savings in operating budgets.
And Franklin would benefit by immediate receipts from minerals processing and for its management services.
In discussing recent reports of Franklin having entered these negotiations, Mr. Petty said, "Not only is this an exciting business opportunity, it's an honor for Franklin to have been approached by another factor in Bolivia's growing mining industry.
Our management team's work in redeveloping the Escala has not gone unnoticed by colleagues and competitors.
"The potential of a significantly expanded mining presence in the Potosi area is attractive for several reasons, primarily because it's an easy route to expanding our core business with very little investment. But it comes just as we are about to launch second-phase operations with our Escala joint-venture. We will announce a decision at the appropriate time."
About Franklin Mining, Inc.: Franklin Mining, Inc. holds mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Additional information is available at www.FranklinMining.com.
DISCLOSURES: "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.9s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
For further information, please visit our website (www.FranklinMining.com) or contact us at 210-525-1267. Contact:
Gold strong, silver stronger as dollar continues downward path
The gold price continued its recent upward path Friday, but silver advanced even more in percentage terms as the dollar showed more weakness amid general economic fears. Author: Jan Harvey Posted: Friday , 22 May 2009
LONDON (Reuters) -
Gold climbed to a fresh two-month high on Friday, breaching $960 an ounce for the first time since late March, as the dollar's slide against a basket of currencies boosted buying of the metal as a currency hedge.
Silver prices posted the biggest percentage gains among precious metals, however, climbing to a nine-month peak of $14.83 as investors turned to the metal as a cheaper alternative to gold.
Spot gold touched a high of $961.30 an ounce and was bid at $960.35 an ounce at 9:18 a.m. EDT, against $953.40 an ounce late in New York on Thursday.
U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $9.60 to $960.80 an ounce.
Simon Weeks, director of precious metals at the Bank of Nova Scotia, said the majority of gold's gains were dollar-related, with investors "buying hard assets as opposed to hard currency."
"Physical (buying) has been okay, but I expect a big increase in the open interest on the long side on the COMEX," he added.
The dollar continued its slide on Friday, with the euro trading above $1.40 for the first time since early January, as fears over U.S. sovereign ratings accelerated a drive away from the unit.
Ratings agency Moody's Investor Services said on Thursday it was comfortable with its U.S. rating but that it was not guaranteed forever, while Standard & Poor's cut its outlook on Great Britain to negative from stable.
Fears over the economic outlook and the financial system fuelling interest in gold as a haven from risk.
Bullion is also technically well-positioned to make further gains, according to Calyon metals analyst Robin Bhar.
"We have closed for two days above the $935 level, so the technical guys will be saying we now have confirmation of a successful upside break," he said.
"We've seen in the past gold has put in some false starts and never really achieved a clean break-out. If we close at these sorts of levels, it will look really good on the weekly charts, and provide even more upside potential."
Stronger oil prices, which hovered around their six-month peak, also supported gold. Bullion can be bought as a hedge against oil-led inflation, while rising crude prices can also boost interest in commodities as an asset class.
OUTFLOWS
Investor interest in gold-backed exchange-traded funds remained relatively lackluster, however. Holdings of the largest gold-backed ETF, the SPDR Gold Trust, were unchanged for a sixth consecutive session on Thursday.
London's ETF Securities noted an outflow from their Physical Gold ETF (PHAG.L: Quote). Its holdings declined nearly 69,000 ounces or 2.5 percent on Thursday.
Among other precious metals, silver jumped to a fresh nine-month high on Friday, also benefiting from dollar weakness. The metal has risen more than 5 percent so far this week. Spot silver was bid at $14.70 an ounce against $14.51.
Strong ETF buying has been a key factor boosting silver prices in recent weeks. ETF Securities' silver (PHAG.L: Quote) holdings were at a record 19.462 million ounces on Thursday.
"We expect the metal to continue to benefit from inflation fears and investor diversification, and think silver is brewing for an upside push of its own, potentially targeting the $16.40 level," said TheBullionDesk.com analyst James Moore in a note.
Platinum was quoted at $1,149 an ounce against $1,148.50 late on Thursday, while palladium was at $232.50 an ounce against $231.
Fellow platinum group metal rhodium dipped $50 to $1,400 an ounce, giving up some of this week's earlier gains.
(Reporting by Jan Harvey; Editing by Peter Blackburn)
U.S. Silver Corp. (TSX:USA)(USD)$0.275 UP $0.025 (+10.00%/day :-) Bid 0.26 Ask 0.275
Volume 1,176,085 Strong Demand :-) Tom's boys? some waking UP :-)
Days Range 0.255 - 0.275 Last Trade 9/1/2010 3:59:42 PM Click for detailed quote page
Wallace Idaho A Mining Town "Then and Now" Part 1 -
USSIF/USA has a long hike back UP to a more fair share price -
..the investors who bought the IPO shares - ..they listen to the banksters brokers promo - ..and their investment is down a lot - ..would like to see USSIF in a more fair share price :-) ..to give back the confidence for a LT good return for the old-. ..timers who got USSIF up running in the first case :-) ..they are well worthy and should be honored to see a $3.-/sh price and higher :-) .. USSIF is a steal at this low bargain prices - .. to much undervalued and oversold - the low prices makes it a shame for the whole mining industry - in the US silver mining.
The JPM666-Fix is Simple - To Get A BS bail-out - To make the People liable to the Fed -
Cash-Strapped States Delay Paying Income-Tax Refunds -
dailypaul.com/node/128154
Prosperity Can Return, And The Peoples 888-Fix is Simple -
E.g.,
Income tax to the Federal Government is not for income to the government—not one penny.
What is it for then?
It is for social 666 control.
This is a fiat 666 money syndrome.
Fiat paper money causes more direct 666-government control over the 888-People Citizens.
In filing Federal Income Tax forms People reveal a complete profile of their public as well as their private lives.
The system requires that the People must believe that Federal income taxes are for income flow to the Federal Government.
Nonsense, nonsense.
No fiat (money) goes to Washington as taxes!
Where does it go? It returns to ether, from whence it came. Where does the Federal Government get its money?
Modern government money is electronic. It is not your taxes.
And in reality, Federal Government has no debt.
How can the Federal Government have debt with electronic money that is nothing more than computer symbols that can be created to infinity?
Many in the land believes that there is Federal debt. The Federal debt have gotten into our heads but we may totally misunderstand monetary realism.
Oh yes, the Federal debt hoax has a serious purpose. It throws sand in our eyes to keep the people from waking up to the fact that the Federal Government just creates all the “fiat - money.”
There might be an “income tax” rebellion if a goodly number of people discovered the Federal debt hoax. Come now, if you could create trillions in electronic money, would you have debt? No, you wouldn’t, and neither does the Federal Government.
The income tax is totally a propaganda system to keep the population from discovering the nature of Federal Government finance. Income tax is not about money going to Washington as taxes.
It is about control and social engineering of transferring production and wealth from the producers to the non-producers, and it comes right out of Karl Marx’s Manifesto.
And dear friends, can you even imagine the parasite load of accountants and lawyers pretending to help the Federal Government collect taxes? They actually believe that they are collecting taxes. They have no concept of reality.
I challenge any living being to disprove what I have written here. What we need is truth.
The hour is past late.
Greed and vested interest have brought America to a state of collapse. Accountants and lawyers are the elites parasites on the income tax fraud.
Since the income tax does not supply income to the government it can be permanently abolished. After all, Federal income tax was nil until 1939.
It’s all very simple except for the giant cover of deceit and fraud in America. Elimination of the Federal income tax would restore confidence and a new day of prosperity and economic relief.
Domestic labor could and would be cheaper and corporations which have moved offshore would move back.
America is not in economic trouble except for the fraud of politicians and vested interests. The US people Presidents should have to know this is our Constitution of Rights, Liberty and Freedom -
Abolishing the income tax would eliminate the oppression of a whole army of tax collectors and their lackey accountants and lawyers. This would make way for sound and honest people healthcare and Social Security Safety Net for all people.
Abolishing the income tax would not cost the United States government a dime. Federal income tax is the scam of and scourge of history used by tyrants to oppress the our people and make them support a perpetual increase in the size of nwo 666-government.
What I have said here does not apply to state and local governments. All of you know that they can’t print money or create money electronically as does the Federal Government.
The American people need to know the truth now about the fraud and deceit of the Federal income tax. It will never be debated in the controlled media or by the 666-politicians. They don’t want you or any 888-people to know.
But only 1 percent of the “taxpayers” could start an income tax rebellion simply by telling the truth to fellow Americans. It is one of our last 888-chance before 2012!
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