Franklin Mining, Bolivia Has Achieved Positive Cash Flow
Franklin Mining, Bolivia Has Achieved Positive Cash Flow March 14, 2005 01:05 PM US Eastern Timezone
SAN ANTONIO--(BUSINESS WIRE)--March 14, 2005--Franklin Mining, Bolivia, wholly-owned subsidiary of Franklin Mining Inc. (OTC Pink Sheets:FMNJ). Franklin Mining is excited to announce that Franklin Mining, Bolivia has gone cash flow positive for January! CEO Mr. Melgarejo commented, "According to a report that we received from Ing. Rocha (the project engineer) from Dec. 29 to Jan. 30, our gold sales were about $34,600.00 USD. Our cost of operations and administration during this time was about $16,720.00 USD; this does not include loan repayment and other obligations. This left a cash surplus of about $17,900.00USD." Mr. Melgarejo added, "As per our business plan this money was re-invested in the mine during the shut down for repair, maintenance and expenses in February. This should minimize our down time for the next couple of months and allow us to increase our production. We have also asked one of our technical advisors, with extensive expertise in placer mines in the area we are working, to review the operation and advise recommendations."
About Franklin Mining Inc.
Franklin Mining Company was established as a Colorado exploration and mining company in 1864. The Company incorporated on Dec. 1, 1976 and owns the Franklin Mines in Idaho Springs, Colo. In 2003, the Company shifted its focus and now operates from its headquarters in San Antonio. In 2004 the company opened a wholly-owned subsidiary in Bolivia; it has an active mining operation in Bolivia and acquired Santa Catalina Minera in Colombia.
For more information on Franklin Mining, please visit our Web page 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.'s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining Inc.
Contacts Franklin Mining Inc., Houston Terri Moran, 832-248-6211
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