Franklin Mining — one of Stock Guru’s most successful companies EVER — is moving with powerful force and purposeful direction. They know where they’ve been and they know where they are going. Bill Petty has outlined their immediate plans in his Letter to Shareholders.
Date: 9 November 2007
From: The Office of the President
To: Franklin Mining, Inc. Shareholders
It’s been eight weeks since I accepted the invitation from Franklin’s Board of Directors to become your CEO. During these first two months on the job, I’ve come to understand there are a number of our projects that a lot of you have serious questions about and are anxiously waiting for details.
I appreciate you allowing me the time to settle in and begin to unravel circumstances surrounding some of the projects. Now that I’ve had time to get a firmer grip on Franklin’s State-of-Affairs, I feel more comfort in providing an assessment of each of our current projects.
I should begin with our current most-active project, The Escala Mine. My last Letter and today’s Press Release provided most of the information but I can add a few more details as well as clarify some of the history surrounding this historic mine.
Bolivia’s present day COMIBOL mining concession known as the Escala Mine is located in the Sud Lipez Province, San Pablo Canton, Department of Potosi, approximately 800 Km from the city of La Paz, near the border with Argentina. This concession was granted to COMIBOL in 1969.
From the current 2,000 hectare COMIBOL mining concession, Franklin Mining, Bolivia S.A. signed a contract on September 19, 2007 to mine a 500 hectare area known as The Escala Mine, or The Original Escala. Other mining applications, known as the Escala II, Escala III, Achacana and Aguas Escala applications are contracted to another company.
Franklin’s 500 hectare contract includes the only roadway to and from the base camp, which is the only area with utilities in place. All of the camp’s buildings – offices, shops and housing for workers – are included in our contract. Most important: mining areas immediately adjacent to the base camp contain historic mine workings of a group of polymetallic veins. All of the minerals to be found at today’s Escala Mine are reported to have been developed during the Spanish colonial period.
Mining sites known as Cerro Blanco and Cerro Galapago together with two other adjoining sites known as Southern Dome and Satellite are also within our contract area. It is not my intent to begin working these sites until after the base camp sites have been firmly re-established.
William A. Petty
Chairman, CEO & President
Franklin Mining, Inc.
8024 Vantage Drive, Suite 680,
San Antonio, TX 78230
Source:Franklin Mining, Inc.
8024 Vantage Drive, Suite 680
San Antonio, TX 78230
William A. Petty
Chairman, CEO & President
Franklin Mining, Inc.
8024 Vantage Drive, Suite 680, San Antonio, TX 78230
210 – 525 – 1273 ♦ fax 210 – 525 – 1289
Forward Looking Statements: The information in this release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectation or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, fluctuations in foreign currency exchange, the impact of competitive services and pricing, or general economic risks and uncertainties.
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