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Franklin CEO Plans Return to Bolivia, Will Coordinate Launch of Escala Operations Franklin Mining, Inc. (PINKSHEETS: FMNJ) CEO Jaime Melgarejo, Jr. has announced plans to return to Franklin's Santa Cruz, Bolivia office where he can more closely monitor progress and coordinate the launch of operations at the Escala Silver Mine.
Escala, a 2,000 hectare compound located in the Sud Lipez Province of the Department of Potosi, was established during the Spanish colonial period and has, intermittently, been mined for lead, zinc, gold and silver. Franklin Mining, Inc. negotiated an agreement with COMIBOL, the National Mining Company of Bolivia, to resume mining operations.
Under the day-to-day direction of Dr. Jaime Arancibia Davila, Franklin Mining, Bolivia S.A's General Manager, preparations to resume operating the Escala Silver Mine have been underway since mid-August and are expected to be complete in late-September with operations underway at the end of the month.
Included in the Escala's existing infrastructure are all necessary utilities, roadways, offices and shops and fourteen houses for use by managers, miners and their families. Under the provisions of Franklin's agreement with COMIBOL, a micro-hospital is being planned and will be added to Escala's infrastructure.
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. Additional company 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.'s 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 our Investor Relations firm, A. Austin & Company, 1-702-386-5379.
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I told ya that they would see action today. The RSI hit 30 off a huge drop for no reason. Walk in the bank quietly - load a little money in the wallet and walk back out quietly hehehe. MONEY!!!
-------------------- Don't fall in love with any stock! Posts: 159 | From: Phoenix | Registered: Aug 2007
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Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) Chairman and CEO, William A. Petty, has issued the following update on the production status at the Escala Mine.
-- With the recent addition of compressors, other drilling equipment and the initial portion of a rail system, the Escala has achieved a 100% increase in daily production. Capital equipment planned for delivery during the next 60 days is expected to allow additional incremental increases in daily production.
-- With an estimated 400 tons currently on the ground, mineralization is being stockpiled at the present time to allow Fernando Infante, Executive Vice-President, an opportunity to review the Escala's current processing capacity and submit recommendations for the locations and placements of additional processing plants.
Additional information on Franklin's Escala Mine, including initial assay reports, is available at www.FranklinMining.com and in a Newsletter scheduled to be made available not later than the end of the day June 11, 2008.
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.
Posts: 1442 | From: Lugano - Switzerland | Registered: Sep 2003
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Bought a nice amount for lotto. Was sitting at .0001 with no bid now has a bid .0001 and .0002's were getting hammered into close. 2 pr's today and stock buyback one of them. True meaning of lotto here.lets see how it plays out.
(Marketwire) -- 01/08/09 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) announces that its Board of Directors has resolved that the Company should immediately begin preparations to purchase its own Common Stock in the open market.
At a Board of Directors meeting held Tuesday, January 6, 2009, it was acknowledged that Franklin Mining shares have, for two calendar months, been under tremendous selling pressure. Despite positive accomplishments by the Company's Mining Division in 2008 and pending positive announcements by both the Mining and the Oil & Gas Divisions for 2009, shareholder decisions have resulted in record setting trading volumes at record low prices.
Franklin Mining's Directors and Managers are confident the Company will soon begin realizing the benefits of 2008's yearlong preparation and development of mining operations at Bolivia's Escala Mine Joint Venture and from multiple energy projects in Texas, Argentina and throughout South America.
Franklin's Directors are confident the Company is in a position to accumulate a sizeable portion of its shares at record low prices. In a Resolution dated January 6, 2009, the Board of Directors authorized that all necessary arrangements are to immediately be made for the Company's purchase of its own Common Stock in the open market.
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 is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. 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.'s 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 our Investor Relations firm, A. S. Austin & Company, 702-386-5379.
-------------------------------------------------------------------------------- Contact: Investor Relations firm A. S. Austin & Company 702-386-5379
(Marketwire) -- 01/08/09 -- Franklin Mining, Inc. (PINKSHEETS: FMNJ) (FRANKFURT: FMJ) announces that its Board of Directors has accepted a preliminary proposal from a Houston, TX-based capital finance company and authorized the preparation of final documents in receipt of $1.2 million USD capital. This funding will be used to further increase the Escala Mine's processing capacity to an estimated 150 tons per hour.
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 is a wholly owned subsidiary. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. 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.'s 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 our Investor Relations firm, A. S. Austin & Company, 702-386-5379.
-------------------------------------------------------------------------------- Investor Relations: A. S. Austin & Company 702-386-5379 www.FranklinMining.com
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