OTC FIRST ALERT - NEW Public Company of the Month
Sector: FMNJ is a gold exploration and mining company
The BULL Market in Metals is Just BEGINNING!! "Which is the better buy now, technology or mining stocks? Surprise, the winner is mining stocks. Mining stocks have more momentum. Mining companies are in the early stages of a growth cycle as demand for nickel, copper and gold increases." - Jim Jubak, a senior markets editor for MSN Money
Franklin Mining, Inc. (OTC: FMNJ) is a gold exploration and mining company FMNJ has a long 138-year history beginning in the late 1860s with the gold strikes in central Colorado - (formerly as Franklin Mining Co. and Franklin Consolidated Mining Co.)
Due to the recent stable and rocketing Gold prices, FMNJ is again gearing up, acquiring and developing two initial mining properties: the Franklin Mines and Mills in Colorado and the El Alacran Deposit in Colombia. These mining projects have major Gold ore body potential, which is indicated by exploration results and drilling results.
The Franklin Mines and Mills in Colorado have multiple claims, existing permits, and a crushing and flotation mill on site. It has a history of producing gold, silver, lead, zinc and copper, and the potential to become a small - to medium producer of high-grade gold, silver and base metals.
Geologist Gifford A Dieterle has summarized the mineral valuations of the Franklin Mines as follows:
* Proven/probable Gold mining potential is 58,680 oz, which at $390/oz it equates to over $22.8 million; the Silver potential is 1,255,572 oz, which at $6 oz it equates to over $7.5 million
These valuations only take into account the current Gold and Silver values that can actually be sampled, additional gold and silver may be discovered as mining resumes.
"...Gold ascends to $500 an ounce..." this is a prediction made for gold in the year of 2004 - Byron Wien, a US Senior Investment Strategist with Morgan Stanley.
The El Alacran Deposit project includes three exploration licenses totaling 1,265 hectares of known gold, copper and silver resources. Geologist Robert P. Shaw has summarized calculations of gold and copper resources as follows:
- Proven Gold underground mining potential is 96,280 oz, which at $390/oz it equates to over $37 million; the proven Copper potential is 84,532,577 lbs, which at $1.00/lb it equates to over $84 million.
- Possible Gold open pit mining potential is 41,324oz, which at $390/oz it equates to over $16 million.
- Possible/probable Gold underground mining potential is 206,610 oz, which at $390/oz it equates to over $80 million; the Copper potential is 216,341,000 lbs, which at $1.00/lb it equates to over $216 million
The El Alacran ore zones are not constricted, appear to repeat systematically and are open at depth, which offers possibilities for the exploration, discovery and long-term development of potentially large-scale Gold and Copper resources. Silver is also indicated and probably significant but calculations are premature at this time.
We are still a long way from gold being overvalued and, in the meantime, there is an awful lot of money to be made in this sector, especially in mineral exploration companies." - Paul Van Eeden
The mining potential that FMNJ could extract from these two mines is over $465 million. However that is not enough for FMNJ.
FMNJ is continuing to drive ahead and is currently investigating other mineral properties and active precious metal mines in North and South America to:
1. Successfully grow its asset base
2. Revitalize its operations
3. Producing low cost precious and base metals
4. To generate a substantial return to its investors!
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