Re:Best to Come... - 2008/04/25 03:21 amDear Naive Good luck
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dexter
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/04/25 10:55 ammatt read the financials again. a good portion of their debt was passed onto them by a previous owner. this debt is on the books but noone has come forward to claim it. franky's waiting for the expiration to dump it from the books. they also have the interest by a top of the notch investment bank gdr privey (sic) and gdr does intense dd before investing in anything. we're talking rothchild fame. best regards dex
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ymikey
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Posts: 210
Re:Best to Come... - 2008/04/25 06:53 pmYou are right Dexter, Frankie has been carring this NLCF for years. It could be a great benfit if they turned into a "Cash Cow", and wright it down and conserve the assist.Some have been talking about NEWS that is due anytime now.Frankie needs to get it out and explain the benfit of this inherited debt.The sooner the better. Mike
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/04/25 11:34 pmSome thing to think about over the wek end. Mr. Big says more news next week. Franky is dirt cheap, bottom, who knows? I am in for more. Good luck
------
Memorandum
Date: 24 April 2008
From: The Office of the President
To: Franklin Mining, Inc. Shareholders
I know it’s been almost two months since my last Memo to Shareholders and understand there have been a growing number of inquiries to the San Antonio office as to “my where about’s” and “what’s going on” (other than with Escala, which I hope you will agree, we’ve made serious progress on that project during recent weeks and have done a reasonably good job of keeping everyone informed).
First, I apologize for having allowed the past two months slip away without an update. That’s not what I said would happen. And I have no excuse or explanation other than I have spent the last two months working toward completing final negotiations on our first GTL project.
Second, I must ask your continued patience and understanding for another two-to-four weeks. I know many have a great deal of interest in our energy projects and there will be significant news to announce in a few weeks.
For today, the few details I can provide are that Franklin’s energy projects in both Bolivia and Argentina are alive and well.
· In the past few weeks, I’ve met with many government officials in both countries as well as representatives from several international financial institutions and continue to find a solid commitment to helping Franklin bring our projects to fruition.
· I’ve had meetings with representatives of a major international energy production company expressing an interest in participating with Franklin once we’ve completed contract negotiations with the government agencies.
I appreciate that – to some of you – much of this Memo might seem vague, even confusing. But I assure you, progress has been made and continues being made … I just cannot provide the details that many of you are asking for.
In the case of more than a few of the direct questions I have been asked, I have signed – on behalf of Franklin Mining, Inc. – non-disclosure agreements that, for now, prevent me from disclosing details.
Just as you allowed me the time needed to wrap-up Escala’s negotiations and bring that project on-line, I need time to wrap-up the energy negotiations in Bolivia and Argentina.
I intend to spend this weekend preparing another Memo for release early next week which will update you on the Escala Mine as well as other matters facing our company.
Once again, thank you for your patience and your continued support.
Sincerely,
William A. Petty, CEO
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/05/02 08:38 pmDear Mr. B,
FMNJ office has the news release but did not get it out in time (usually superstition that Friday's are for bad news, so...). It should come Monday per them. Hope so. It should contain alot but the WallSt.net broadcast indicates the first plant will not be operational until near the end of the month. It is unclear as to when the first $ from sales will occur, but it should be soon. It was good to see them take my advice/pushing that they needed to "promote".
I was down on the L-G project thinking it would take them years to finish and collect any money. There is a hint that they might get it started and then sell the potential. That would be a better approach!
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/03 04:27 pmSteve, your Ideas sound good. Lets see what they do next week. I rolled the bones, they came up postive I have to be postive with the way things go lately, in the pms sector!
brenttb
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/05/06 06:23 pmDear Brendt,
This IS a strange market. Inflation and worthless dollar = lowering gold prices. Huh? The President's letter for FMNJ is not out yet (legal review) but the quick notice of selling the GTL caught me off guard. Generally, I think it is a good thing as it would take years and management time to get any money out of it. Somebody did not like the move however and sold off. I still think there is severe manipulation going on.
Now they will get it up front and still concentrate on silver and gold. Notice the reference to Cerro Rico this time. Apparently, govt beauracy was holding up Cerro Rico go-ahead as other companies in the area were already working some part of the total claim elsewhere.
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ymikey
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Posts: 210
Re:Best to Come... - 2008/05/06 08:07 pmSteven, I just read your post to Brent. The selling of the GTL opps. has been in the works for a long time(Year+/-).I havent seen where that part of Frankies buz. has,in fact, been sold. If it has,I see it as a good thing. Frankie needs to consentrate on it's core buz.,I.E.mining.They need to get that profitable and stable befor going into other things. This could explain why the stock has been sliding as of late.Think about this: alternative fules is some what of a "hot button" to a lot of peaple. They like throwing money at it,but here is Frankie getting out of it.This would appear to be stupid to nieve investors.Reality will set in when Frankie does what it does best, and thats mining. I don't care what you do, but if you make money at it you P/S will go up.
Mike
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stevenschultz50
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Posts: 97
Re:Best to Come... - 2008/05/07 03:59 pmymikey,
My surprise is that it came out before the President's letter and 1 day after I spoke with the San Antonio office that indicated it would be a while. Oh, well.
1. They should have pure precious metals to sell directly to market by end of June because it takes several mills operating to accomplish this. Until then they are preparing "concentrate" whose sale should be announced sometime soon.
2. I think we agree completely on the GTL with the President's statement on its advantages.
3. FMNJ is anticipating a purchase agreement from a nearby Arizona mining company to take over their inefficient/2003-ceased operation there. As a part of this deal by year end, the $1.6 million liability will also disappear. Nice move !
4. Startup on Cerro Rico or the gold field is still in negotiation with slow-moving (my wording) government officials.
Keep me posted.
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redrooster
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Posts: 245
Re:Best to Come... - 2008/05/09 01:57 pmNo volume today as of 2:00, I think very unusual considering a typical 20M volume days in the past . did we run out of sellers? This may be a good sign.
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/11 05:57 pmI like to see and hear your optimistic tone. When volume drops and price increases, it brings me to think the strong hands have their fill. I would like to think the tide is turning and will start to rise. Isn't spring noted for extreme highs and lows? We've seen some lows! Lets see some incoming tide over a very shallow reef with a ground swell for good measure! glt
brenttb
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/05/12 10:34 pmDear Y'all,
it is nice to see FMNJ up for a while. I have bugged their office enough lately. Now whose turn is it? We need to see an announcement of silver sales and more activity on the gold field. Ah, dreaming again.
sps
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/12 10:50 pmSteve, I am with you. Just for fun notice the short interst has wained as of today. Maybe something is in the wind? Volume was up? I can hope too can't I?..glt
brenttb
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stevenschultz50
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Posts: 97
Re:Best to Come... - 2008/05/12 10:59 pmDear Brendt,
FMNJ news is slow in coming. I just do not know yet why the Pres' letter is not out yet. Lawyers ARE slow but.............? I am not expecting a blockbuster news just yet, only progress. I offered to haul rock for them....
sps
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MATTY1215
User Fresh Boarder
Posts: 13
Re:Best to Come... - 2008/05/13 03:28 amIt did come out. It came on Thurs. When I went back to read it a second time it was gone from there web page. I do not know what happened to it. It was such a joke I couldnt believe what I was actually reading. Maybe someone hacked into there system. It started out with I have some good news and some bad news. If that was it your waiting for nothing.
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/13 09:47 amThat sounds as if someone went oops, did I write that? And yanked it.
One more day at the quarry...boring.
brenttb
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redrooster
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Posts: 245
Re:Best to Come... - 2008/05/13 02:48 pmWhat?!?! 70 M shares traded, and it loses 33% of its value. Did someone bomb Bolivia or what?
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redrooster
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Posts: 245
Re:Best to Come... - 2008/05/13 02:55 pmredrooster wrote: What?!?! 70 M shares traded, and it loses 33% of its value. Did someone bomb Bolivia or what?
Or, "we will raise capital off the backs of our shareholders"
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/05/13 03:35 pmIt is the witching hour. FMNJ did not sell shares. They would have to file and advertise the SEC move to do so. Some people just go tired. It does not help that there is the "appearance" that Bolivia is unstable. But with the government owning the property, there is nominal risk to FMNJ. The newsletter to come has some good news per the FMNJ office. Their home page provider just had some technical difficulties and it should be restored soon. *Please Stand By* as the phrase goes. I can not comment further without seeing the news.
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/13 06:17 pmIt was nuetron bomb, one that kills share price and not us poor saps waiting for things to shape up. Another day comes tommorrow!
Brenttb
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MATTY1215
User Fresh Boarder
Posts: 13
Re:Best to Come... - 2008/05/13 06:29 pmWhos waiting for things to shape up!!!! This has been over for a long time. The writing been on the wall for a long time. There is no tommorrow with this stock.
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stevenschultz50
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Posts: 97
Re:Best to Come... - 2008/05/13 08:47 pmDear Mate,
I will not argue with your disappointment. After 2 years, I carry it, too. However, future is most of what this company has and built much for longevity. In between the lines there is revenue being generated. No doubt they have purchased the plants with assurance that installation funding will be there from their financial sources. This stock price is at no level to be selling shares for funding, that is for sure!
I am hoping the restructuring means more than getting rid of the old Arizona mine liability. Guess the stock is good for wallpaper until then. No sense for me to sell now when they are still rolling. My best wishes for success.
Steve
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come...Better For Now - 2008/05/14 04:58 pmI talked with the FMNJ office again today:
1. They are confident of receiving funds from lenders and the GTL sale to complete the full operation plant processing/extraction setup. 2. One plant is there and being worked on already. 3. Note the latest news release - revenues to start coming this month ! 4. I am curious about the negotiation phase in Argentina regarding the GTL and how that affects the internal FMNJ structure, etc.
Glad I held on...
SPS
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/14 05:01 pmMatt, the penny plays are suffering just like many of the big boys. It is something to behold, as it is not the norm. Don't forget another round of selling may occur to boot, as we are heading into summer, a historical time to run away and come back later in the fall. I will accumilate until fall just like last year, the year before and so on. They are stil trading and in business this far into the game. IMO, I would be silly to bag it now. The shares could get cheaper and cheaper? I would not bet though, that it lasts very long! imo
I added more today .0009, couldn't get the 8s.
brenttb
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brenttb
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Re:Best to Come... - 2008/05/14 05:46 pmFranklin's Escala Mine Operating On-Plan; First Revenues Report Due 30 May 2008
LAS VEGAS, NV, May 14, 2008 (MARKET WIRE via COMTEX) -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) Chairman and CEO William A. Petty is today confirming that his previously projected 30 May 2008 deadline for first revenues from the Escala Mine joint-venture will be met. "Howard Dunn, Franklin's Vice President of Operations for International Mining, returned to La Paz, Bolivia on Monday, 12 May. Yesterday, Mr. Dunn met with Dr. Jaime Arrancibia, General Manager, Franklin Mining, Bolivia and other senior members of the management team," said Mr. Petty. "Early next week, following Mr. Dunn's return from the Escala Mine, I'll have additional production information and a better projection of May's revenues."
About Franklin Mining, Inc.: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Mining, Bolivia S.A. is a wholly owned subsidiary.
Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.
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stevenschultz50
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Re:Best to Come... - 2008/05/14 06:06 pmBrent,
Did you see the e-mail and my posting?
Steve S.
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/14 06:34 pmI guess I did. Where is it?
Brenttb
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ymikey
User Platinum Boarder
Posts: 210
Re:Best to Come... - 2008/05/14 07:11 pmMatt, Am I correct in thinking that you are in Bolivia? I've gotten that impression.
Brent, I have seen this cycle with Frankie befor and it was a precursor to a big move. I think you might remember.
Mike
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stevenschultz50
User Gold Boarder
Posts: 97
Re:Best to Come... - 2008/05/14 10:24 pmDear Brentb,
The FMNJ late day e-mail news and my post are just 2 posts before your last one. I think this is pivitol, but in today's attitude toward FMNJ will not be a blockbuster. It will take a string of good news, plant operations, etc. for FMNJ to rise to where it should be. Sigh. I agree the summer doldrums will be hard on FMNJ and all green stocks.
Steve
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brenttb
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Posts: 1493
Re:Best to Come... - 2008/05/17 01:17 amSteven, I see in the crystal ball (charts), next weeks accumulation will continue. It looks to me as though today may have been a turning point. I'll look forward to more signs that we hit bottom this week.
Mikey, I remember! I got the feeling too, so I bought some more of franky and ucoi.....
brenttb
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I have to be postive with the way things go lately, in the pms sector!
It looks to me as though today may have been a turning point. I'll look forward to more signs that we hit bottom this week.