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FMNJ Franklin Releases Potential Production Capacity of First Cerro Rico Processing Plant "The estimated gross revenue we can expect to recover from the first of our four assigned veins is $52,500 per day when using a price of $700 per ton. Our consultants expect this to be a conservative estimate for each processing plant."
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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LAS VEGAS, NV -- (MARKET WIRE) -- 05/23/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) has completed its estimate of potential production capacity from the first of several planned processing plants needed for mining operations at the Cerro Rico mine.
"The estimated gross revenue we can expect to recover from the first of our four assigned veins is $52,500 per day when using a price of $700 per ton. Our consultants expect this to be a conservative estimate for each processing plant."
In making today's comments, Jaime Melgarejo, Franklin's CEO, added, "Our assessment of potential production was made following a thorough study of COMIBOL's analysis report received last Friday and a series of meetings with Mr. Marcelo Zambecchi, Z&H Consultants. Mr. Zambecchi, managing director of the firm bearing his name and formerly an Odessa Mining director, will oversee the Cerro Rico mining operations for the Franklin Mining, Bolivia and COMIBOL Joint Venture."
COMIBOL is Bolivia's national mining company. Franklin Mining, Bolivia (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc.
For additional information on Franklin Mining, Inc, please visit our web site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info*franklinmining.com.
GREAT NEWS!!!!!
Posts: 199 | From: beach, sc | Registered: Mar 2006
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Sound like Courtney Love's heroin addiction 52.5K a day into her veins
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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quote:Originally posted by madOIL: a buy just went through at .045 for 539,000 shares = $24,255
Nice,thats one thing I look for when purchasing a penny stock.Someone would not by 24k worth of a penny stock without a good reason.My order is in now.
Posts: 424 | Registered: Apr 2005
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Two more big buys worth approximately 10k just went thru back to back. Something is up here..Bid is rising as well.
Posts: 424 | Registered: Apr 2005
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with a conservative potential for more than $21 million in gross revenue i dunno why people wont jump on this at these low low prices maybe when the other veins are released we should see this go northward!!
Posts: 199 | From: beach, sc | Registered: Mar 2006
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I would love to buy it but rshn ddsi fgfc have me tapped out lots of bargins right now.
Posts: 534 | From: florida | Registered: Feb 2006
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-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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Great close. I can't wait for the news on the rest of the veins on this property.
-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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syracuse0 yeah i agree 300 days is a good number of days to work, but as the latest PR stated their estimates are CONSERVATIVE; therefore my 100 days mining was at a CONSERVATIVE rate basically i was saying if they only worked 1/3 of the year look at the amount of gross revenue generated yes 300 days is much better than 100, but what happens if they only mine 100 or just 200 days or 250 for that matter, hey i just look at companies and project AT WORST CASE SCENARIO, that way if they underperform from their projections then usually it is where i was hoping it would be, if they overperform from their projections then hey i come out way ahead do u get me!!! that is why i said 100 days WORST CASE SCENARIO
Posts: 199 | From: beach, sc | Registered: Mar 2006
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madOIL....Understood ! Can never be too carful, especially with pink stocks.
The majority conscensus from other boards is very positive on FMNJ.
FMNJ providing good PR's on progress ( not fluff ), and, there is heavy anticipation for short terms gains ( now .05 to .15 like pre May 1st ), and, beyond for a longer play.
For a gold /silver play, FMNJ is very hot right now. Add in the oil and gas, and , you have a double whammy !
Judging from the recent PR's and the soon anticipated agreement with the Bolivian worker's agreement ( they met last week ), should be signed in couple of days......I think FMNJ, the workers, and, the Bolivian Goverment are all anxious to get into production ASAP.
Very positive news for FMNJ.
Best to You MadOil ! Go FMNJ !
By the way, since your name is MadOil.....what would you favourite oil plays be for the summer, if you don't mind my asking ?
I am looking for PGPM, BIGN, FPPL, and EDEX, with long term PMHJ.
Posts: 63 | From: Canada | Registered: May 2006
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syracuse0 oh yeah i totally agree about the potential for FMNJ i have been watching since it made its spike up to .15 then saw the "NEWS" which brought it down, been on radar for weeks; the last few PR were very positive IMO and with actual reports of what can be mined and how much almost makes this a no brainer. as for the summer i played PGPM (waiting on new PR to validate statements) BIGN looks good IMO, but honestly i am DD a company that has been on my list for months AUCAF check out latest PR: JUST SOME NUMBERS O/S - 12 MILLION FLOAT - 2 MILLION hardly any volume but news is AWESOME!!!
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Additional Potosi Area Mine Operators Will Help Rebuild Economy
LAS VEGAS, NV -- (MARKET WIRE) -- 05/24/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). Franklin Mining, Bolivia's Joint Venture with COMIBOL for four veins of the Cerro Rico de Potosi, has been designed and structured in anticipation of returning this historic mine to full operations and enhancing multiple aspects of the local economy. Franklin's MOU with EcoSystem Partners, LLC, Sarasota, FL to provide Broadband technology and services designed specifically to help improve mine safety was one of the first such commitments.
The value of FMNJ's Bolivian subsidiary's Joint Venture with COMIBOL is not yet fully defined. What is known is that the Cerro Rico, under COMIBOL's ownership, is considered the world's largest silver deposit. Dr. Adrian Boyce, Senior Research Fellow, Scottish Universities Environmental Research Centre in Glasgow, has written that the Cerro Rico's production has never been matched, having produced almost five times more silver than any other BPV deposit.
The San Miguel, the first Joint Venture vein to be publicly identified, is estimated to contain 154,011 Kilo of silver. Results from COMIBOL's three other analysis reports have not yet been released.
In releasing today's information, Franklin CEO Jaime Melgarejo confirmed FMNJ's position in Bolivia, "Our agreement with COMIBOL is to be their partner in their goal of returning the Cerro Rico to full production. With Franklin Mining, Bolivia providing capital and technology, with FEDECOMIN providing workers and with COMIBOL having assigned the Joint Venture its four veins, work is set to begin."
Three other foreign-owned mining operations in the Potosi area are also projected to make contributions to improving local economies. Coeur d'Alene Mines is projecting their San Bartolome operation will be online in 2007. Apex Silver Mines, Ltd has two projects including the multi-million dollar San Crisotbal. This multi-national project is expected to be operating by the third quarter, 2007.
Mining is a crucial part of Bolivia's history and is playing a pivotal role in President Evo Morales' plan to reinvigorate the economy. Modern era silver mining of the Cerro Rico de Potosi has been ongoing since 1544 when the Conquistadores discovered the immense wealth. A study by Mark Abbott (Univ. of Pittsburgh's Dept. of Geology and Planetary Science) and Alexander Wolfe (Univ. of Alberta's Dept. of Earth and Atmospheric Sciences) published in the Sept. 26, 2003 issue of Science, concludes that New World metallurgy was under way as early as 1000 to 1200 A.D. Abbott and Wolfe believe these large scale smelting operations continued through early Colonial times (1400 to 1650 A.D.) and provide evidence of a major pre-Incan silver industry.
FEDECOMIN is Bolivia's management council responsible for providing guidance and supervision to all Cooperatives Societies. COMIBOL is Bolivia's national mining company. Franklin Mining, Bolivia (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc.
Posts: 199 | From: beach, sc | Registered: Mar 2006
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Franklin, COMIBOL Joint Venture Is Structured to Revitalize Mining Operations at Historic Cerro Rico de Potosi Additional Potosi Area Mine Operators Will Help Rebuild Economy Last Update: 11:37 AM ET May 24, 2006
LAS VEGAS, NV, May 24, 2006 (MARKET WIRE via COMTEX) -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). Franklin Mining, Bolivia's Joint Venture with COMIBOL for four veins of the Cerro Rico de Potosi, has been designed and structured in anticipation of returning this historic mine to full operations and enhancing multiple aspects of the local economy. Franklin's MOU with EcoSystem Partners, LLC, Sarasota, FL to provide Broadband technology and services designed specifically to help improve mine safety was one of the first such commitments.
Posts: 196 | From: usa | Registered: Feb 2006
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FMNJ from pinksheets: Estimated Market Cap: Not Available Authorized Shares: 1,200,000,000 as of 2006-01-01 Float: 413,882,956 as of 2006-01-01
now, did u even read what i wrote the O/S and Float you are referring to was for AUCAF which is on the OTTCB! read b4 commenting thanks bye!
Posts: 199 | From: beach, sc | Registered: Mar 2006
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Thanks for "AUCAF".....I will check it out !! Does look very interesting at my quick glance.
Also waiting for PGPM independent valuation report, due today/tomorrow. If Gustavson can verify estimation of 900 million barrels and $33 value per share, then I think we'll see PGPM rally to the .20's again, and, beyond since this will be an independent report used to file with the SEC .
posted
yeah im liking the AUCAF news UNREAL but spread is horrible and trade volume sucks, i think it will fall below $1 that is when im gonna look to get in!
Posts: 199 | From: beach, sc | Registered: Mar 2006
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Just in case you did not hear from other sources.....PGPM trying to release PR before end of week to please their shareholders; latest Tuesday.
PR will be extremely positive according to E.Monet, that will enshure confidence in PGPM's oil and gas ventures.
IN addition, they are looking to partner/acquire up to 4 additional Oil/gas properties in Quebec/Canada and the South China.
This news from another board member who spoke with PR's Eddie Monet.
Smells like a potential rally to me.
Sorry guys, if this is off FMNJ....I am HIGH on BOTH of these plays to double/triple in the next 2-3 weeks.
Posts: 63 | From: Canada | Registered: May 2006
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-------------------- FurrySound -DD-GLTA-Unless I've quoted a source, I know not what I speak of. YahooIM=FurrySound Posts: 2170 | From: Pennsylvania, USA | Registered: Mar 2004
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LAS VEGAS, NV -- (MARKET WIRE) -- 05/25/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) is today announcing plans to establish an office in La Paz, Bolivia; both of Franklin's Bolivian subsidiary companies will establish more centrally located offices.
Franklin Mining, Bolivia will soon establish an office in Potosi to be closer to the offices of their COMIBOL Joint Venture partners, FEDECOMIN de Potosi's cooperatives and the Cerro Rico mining operations and processing plants.
Franklin Oil & Gas has recently established an office in the city of Santa Cruz near the most likely construction site of the YPFB partnership's Gas-To-Liquids processing plant.
Jaime Melgarejo, Franklin CEO, said, "We felt it would be best to maintain separate facilities for each subsidiary. Both companies need to have offices physically closer to their partner's office as well as the work site. Negotiations with COMIBOL and YPFB national executives are mostly complete and we are in daily contact with executives and leaders at department and local levels. Considering the specific needs and requirements each company has, this is the right time to establish our local facilities."
FEDECOMIN is Bolivia's management council responsible for providing guidance and supervision to all Cooperatives Societies. COMIBOL is Bolivia's national mining company. YPFB is Bolivia's national oil and gas company. Franklin Mining, Bolivia and Franklin Oil & Gas are Bolivian corporations and subsidiaries of Franklin Mining, Inc.
For additional information on Franklin Mining, Inc, please visit our web site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info*franklinmining.com.
Posts: 199 | From: beach, sc | Registered: Mar 2006
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sryacuse0 about PGPM yeah i know been watching since first pop for some VALIDATION from this guys!
Posts: 199 | From: beach, sc | Registered: Mar 2006
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YPFB, Franklin Oil & Gas Confirm MOU to Build Bolivia's First G-T-L Processing Plant Franklin's Commitment to Social Responsibility Widely Praised, Credited With Providing Model for International Companies to Follow When Investing in Bolivia LAS VEGAS, NV -- (MARKET WIRE) -- 05/30/2006 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). Franklin Oil & Gas, Bolivia S.A. and YPFB have signed a new Memorandum of Understanding to build and operate a Gas-To-Liquids processing plant in the Grande River region of the Department of Santa Cruz, Bolivia.
The MOU, signed on May 25, 2006, is in the name of FMNJ's newly formed subsidiary, a Bolivian corporation, and is in confirmation of an MOU signed prior to the May 1, 2006 nationalization of Bolivian gas fields.
The new MOU was signed by Dr. Jorge Alvarado, YPFB President, and Jaime Melgarejo, Franklin Mining CEO. Representing YPFB at the signing was Ing. Nelson Cabrera, Vice-President, and Dr. Alvaro Antelo, Legal Advisor. Representing Franklin Oil & Gas, Bolivia S.A. were Jaime Melgarejo, FMNJ's CEO, Darwin Hurtado, Franklin's resident representative in Bolivia and William Petty and Ramiro Jordan, Franklin consultants.
The announcement was made at a Press Conference held at the Hotel Europa in La Paz immediately following signing and received wide spread media attention throughout Bolivia and Latin America. Thursday evening, a one hour talk show was attended by Darwin Hurtado and William Petty to discuss the GTL project and Franklin's commitment to social responsibility.
YPFB and Franklin Oil & Gas, Bolivia S.A. expect to begin a feasibility study within a few weeks and complete it within seven months. Preliminary studies call for the Grande River plant's design to produce approximately 10,000 barrels per day of eco-diesel using Gas-To-Liquids technology. Eco-diesel, a high grade fuel with lower emissions, is widely used throughout Bolivia.
Highlighted Links MacReport.Net Franklin Mining, Inc.
The production capability for other natural gas liquids (NGL's) and additional fuel products is provided for in the May 25, 2006 Memorandum of Understanding. NGL's and other products may be included in the initial plant's design and construction or can be added later.
In fulfillment of their commitment to the Joint Venture, Franklin Oil & Gas, Bolivia S.A. will provide for a $320 million dollar investment in land acquisition and plant design and construction. An additional $40 million dollar investment will be provided when additional production capabilities are included. YPFB will provide the natural gas, access to all necessary labor resources and a domestic sales, marketing and distribution infrastructure.
Franklin Oil & Gas, Bolivia S.A. and YPFB will equally share the net profit from plant operations and sales, marketing and distribution of all products.
Diesel is the only fuel Bolivia must import. When fully operational, the Grande River plant's domestic marketing and distribution will begin eliminating Bolivia's continued need to import diesel as well as providing product for export. Diesel fuel currently ranges between $65 and $67 per barrel.
Franklin's Commitment to Social Responsibility Credited with Providing Model for International Companies to Follow When Investing in Bolivia
Following last week's Press Conference and talk show participation, Franklin Oil & Gas, Bolivia S.A., an equal partner with YPFB in Bolivia's first Gas-To-Liquids processing plant, received many compliments in print and broadcast news accounts for their commitment to social responsibility, specifically in education and healthcare. One report cited the YPFB, Franklin Oil & Gas joint venture announcement as signaling the interest of the Bolivian Government in having investments from other international companies willing to work within the parameters of social responsibility.
Franklin Oil & Gas, Bolivia S.A. (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc. YPFB (Yacimientos Petroliferos Fiscales Bolivianos), is Bolivia's state-owned oil company. Their joint venture company will maintain a Regional Office in La Paz and an operations office in the city of Santa Cruz. The joint venture's GTL processing plant is planned to be constructed in the Grande River region of the Department of Santa Cruz, in the eastern portion of Bolivia.
Posts: 559 | From: MN | Registered: Apr 2006
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Bolivia's Proven and Probable Natural Gas Reserves Are Reported to Have Been Understated
LAS VEGAS, NV -- (MARKET WIRE) -- 05/31/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). GTL investment commitments by the world's largest oil companies appear likely to expand significantly over the next decade. Virtually all major oil production companies including ExxonMobile, Shell, ConocoPhillips and Chevron have announced GTL programs that are either in place or soon will be in place. The Peninsula, Qatar's leading English-language newspaper, reported in their May 24, 2006 online edition under the headline "Qatar enters energy big league, signals caution" a string of mega-projects to produce clean, liquid fuels from Qatar's gas reserves -- the world's third largest.
It is against this backdrop that Bolivia's YPFB, in a joint venture with FMNJ's Franklin Oil & Gas, Bolivia S.A., has confirmed a plan to construct and operate a single plant capable of generating an almost immediate end to Bolivian reliance on imported diesel fuels.
In a partnership structured almost identical to an agreement between ExxonMobile and Qatar Petroleum (Oil Daily, July 15, 2004), Franklin will provide the project's technology and management skills and arrange financing of the plant's design and construction costs, while partner YPFB will provide the natural gas. In addition, YPFB will provide a sales, marketing and distribution infrastructure for diesel fuels.
Basic GTL technology dates to 1923 when two German scientists (Franz Fischer and Hans Tropsch) invented a process for converting natural gas to a hydrocarbon which could be upgraded to petroleum products. GTL-produced diesel fuel significantly reduces emissions resulting in less pollution, cleaner air.
Because fuel produced by the YPFB and Franklin joint venture's processing plant will be identical in all characteristics to the diesel fuel presently being imported, all existing marketing and distribution resources and methodologies will remain unchanged, requiring no capital investment. At current daily consumption rates, an estimated 3,500 to 5,000 barrels per day will be available for export after Bolivia's domestic requirements are met. The current market price of conventional grade diesel fuel ranges between $65 and $67 per barrel.
In separate announcements last week, Dr. Jorge Alvarado, President of YPFB, confirmed that Bolivia's proven and probable natural gas reserves have been understated for several years and that steps are being taken to correct all reports.
YPFB executives have traveled to the U.S. to confirm the suspected errors in calculating reserves. YPFB technicians have traveled to Argentina to better understand the determination and reporting process for proven and probable natural gas reserves.
With Bolivia holding Latin America's second largest natural gas reserves, the increased natural gas availability together with an increasing worldwide demand for GTL-produced fuels provides the YPFB and Franklin joint venture with a promising export market.
Franklin Oil & Gas, Bolivia S.A. (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc. YPFB (Yacimientos Petroliferos Fiscales Bolivianos), is Bolivia's state-owned oil company. Their joint venture company will maintain a Regional Office in La Paz and an operations office in the city of Santa Cruz. The joint venture's GTL processing plant is planned to be constructed in the Grande River region of the Department of Santa Cruz, in the eastern portion of Bolivia.
For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info*franklinmining.com.
Posts: 199 | From: beach, sc | Registered: Mar 2006
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GTL Technology Has the Potential to Convert Trillions of Cubic Feet of Natural Gas Into Billions of Barrels of Fuel
LAS VEGAS, NV -- (MARKET WIRE) -- 06/01/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ). GTL technology to be used in the YPFB and Franklin Oil & Gas, Bolivia S.A. joint venture processing plant will convert natural gas into a liquid synthetic fuel. Locally known as eco-diesel, the GTL produced fuel will be a near crystal clear liquid, free from most -- if not all -- pollutants.
The YPFB, Franklin joint venture processing plant will provide fuel for both industrial and consumer use. When available, the eco-diesel product will immediately begin eliminating Bolivia's need for imported diesel fuels. GTL produced fuels can be used to power diesel engines of various uses and applications as well as jet and natural gas turbines.
Franklin Mining, Inc.'s directors and executives believe the YPFB, Franklin Oil & Gas, Bolivia S.A. joint venture will provide shareholder value as GTL technology and Bolivia's abundant natural gas reserves combine to meet domestic needs and capitalize on export opportunities.
Both partners in the joint venture created by last week's MOU will share equally in the net profits generated by plant operations and sales, marketing and distribution of all products. It will do so using existing marketing and distribution infrastructure (pipelines, storage tanks and delivery vehicles; wholesalers and distributors; retailers).
As a result of increased interest in and application of GTL technology, engineering advances have begun reducing the capital cost of production facilities. Franklin Mining, Inc. executives are reviewing plant design and construction needs and requirements anticipating that all recent technological advancements will be included.
The benefit of GTL technology is becoming increasing clear as major oil producing companies embrace it: a serious potential of converting trillions of cubic feet of natural gas into billions of barrels of fuel.
Not only will operating companies with access to natural gas reserves realize increased revenues and -- in theory -- eventual increases in bottom line profits, the benefit of job creation and economic expansion will be potentially significant in some countries.
The YPFB, Franklin Oil & Gas, Bolivia, S.A. joint venture partners will benefit equally from the results of their job creation and cash flow activities as well as profit distributions. The Santa Cruz community and all of Bolivia should also benefit from a reduced reliance on fuel imported from other countries as well as the benefits of an increase in exports.
Franklin Oil & Gas, Bolivia S.A. (a Bolivian corporation) is a subsidiary of Franklin Mining, Inc. YPFB (Yacimientos Petroliferos Fiscales Bolivianos), is Bolivia's state-owned oil company. Their joint venture company will maintain a Regional Office in La Paz and an operations office in the city of Santa Cruz. The joint venture's GTL processing plant is planned to be constructed in the Grande River region of the Department of Santa Cruz, in the eastern portion of Bolivia.
Posts: 199 | From: beach, sc | Registered: Mar 2006
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LAS VEGAS, NV -- (MARKET WIRE) -- 06/06/06 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) has retained the local office of Behre Dolbear International Ltd. (www.dolbear.com) to assist Franklin Mining, Bolivia S.A. with business plan preparations and to review mineral reserve reports for all mining projects in Bolivia. Behre Dolbear is one of the oldest, continually operating minerals industry consulting firms in the world and has extensive experience in Bolivia.
PricewaterhouseCoopers International Limited (www.pwcglobal.com) has been retained to provide audit and assurance services and to assist Franklin Mining, Bolivia S.A. and Franklin Oil & Gas, Bolivia, S.A. with tax compliance issues.
Franklin Mining, Bolivia S.A. and Franklin Oil & Gas, Bolivia S.A. (Bolivian corporations) are subsidiary companies of Franklin Mining, Inc; COMIBOL is Bolivia's state-owned oil company; and, YPFB (Yacimientos Petroliferos Fiscales Bolivianos) is Bolivia's state-owned oil company.
For additional information on Franklin Mining, Inc, please visit our web-site, www.franklinmining.com. To receive future Franklin Mining news by e-mail, please send contact information to info*franklinmining.com.
Posts: 199 | From: beach, sc | Registered: Mar 2006
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Ya have to wonder how much positive news it takes to drive a PPS upward --
Franklin Mining, Bolivia SA and Franklin Oil & Gas, Bolivia, SA Retain Behre Dolbear and PricewaterhouseCoopers Market Wire (Tue 9:35am) GTL Provides Ultra Clean Fuel, Exceeds Most Clean Air Standards and Reduces Production Costs Market Wire (Thu, Jun 1) FMNJ Clarifies the Role of Bolivian Subsidiaries, Relationship With YPFB and COMIBOL Market Wire (Wed, May 31) Gas-to-Liquids: A Promising Technology Rapidly Gaining in Worldwide Acceptance Market Wire (Wed, May 31) YPFB, Franklin Oil & Gas Confirm MOU to Build Bolivia's First G-T-L Processing Plant Market Wire (Tue, May 30) Franklin Mining Will Open La Paz, Bolivia Office With Additional Offices in Potosi and Santa Cruz Market Wire (Thu, May 25) Franklin, COMIBOL Joint Venture Is Structured to Revitalize Mining Operations at Historic Cerro Rico de Potosi Market Wire (Wed, May 24) Franklin Releases Potential Production Capacity of First Cerro Rico Processing Plant Market Wire (Tue, May 23) COMIBOL Approves Franklin's First Cerro Rico de Potosi Processing Plant Market Wire (Mon, May 22) Franklin Releases Additional Data on Joint Venture's San Miguel Vein, Cerro Rico de Potosi Market Wire (Fri, May 19) More Headlines for FMNJ.PK...
and on and on and on
-------------------- Work Hard / Play Hard Posts: 42 | From: NB Can | Registered: Jun 2006
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Strong Silver Demand Is Good News for Franklin Mining, Bolivia S.A.'s Joint Venture With COMIBOL Thursday June 8, 7:41 am ET
2005's Industrial Demand Surged 11%, Prices at 23 Year Highs
LAS VEGAS, NV--(MARKET WIRE)--Jun 8, 2006 -- Franklin Mining, Inc. (Other OTC:FMNJ.PK - News). According to the recently published 2006 World Silver Survey, 2005's silver fabrication demand -- primarily surging industrial demand -- rose to its highest level since 2001 while mine production rose only 3.42% and silver prices reach levels not seen since 1983. ADVERTISEMENT
Despite an almost 9% decline in photographic demand and 4% decline from the manufacture of coins and medals, a strong 11.13% growth in industrial applications produced an overall 3% gain in silver's demand.
2005's 10% growth in global demand from the electrical and electronics industries is expected to continue in 2006 and will likely be further influenced by expected increases in silver's demand necessary to meet requirements of the European Union's RoHS Directive. (RoHS stands for "the restriction of the use of certain hazardous substances and electrical and electronic equipment" and becomes effective July 1, 2006.)
Franklin Mining, Bolivia S.A.'s joint venture with Bolivia's COMIBOL expects to initiate operations later this summer following a full review of its assigned four mineral veins. An analysis of the Cerro Rico de Potosi's 1600 meter San Miguel vein indicates a 154,011 Kilo silver reserve; three additional reports are expected soon. All four reports will be reviewed by Behre Dolbear, mining consultants to Franklin Mining, Bolivia S.A.
Additional information on silver, its uses and demand, is available from two non-profit groups -- The Silver Institute in Washington, DC (www.silverinstitute.org) and the Silver Users Association in Fairfax, VA (www.silverusersassociation.org). The World Silver Survey is published annually by GFMS Limited, London, and is available from The Silver Institute.
-------------------- Work Hard / Play Hard Posts: 42 | From: NB Can | Registered: Jun 2006
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