Franklin Mining, Inc. (OTC Pink Sheets:FMNJ) is very positive on the opportunities in Bolivia.
In the last trip to Bolivia, the C.E.O. met with officials of COMIBOL, the mining corporation of Bolivia and a Federation of Miners that represent several thousand miners. This meeting was to discuss the possibilities of a joint venture between the groups in order to capitalize projects, increase production and profitability on a silver mine in Bolivia. "These meetings were very positive and we hope to be able to formalize this joint venture so that we can aide in doing very positive things in Bolivia," remarked C.E.O., Jaime Melgarejo.
The C.E.O. also met with officials from Y.P.F.B. (The national oil company of Bolivia) on furthering discussions of doing a joint venture project with Y.P.F.B. The meetings were very positive and a draft of an M.O.U was made. This draft is currently under review by the legal department of Y.P.F.B. "We feel that what we are trying to accomplish with this joint venture is within the guidelines of the new hydrocarbon law," said company C.E.O., Jaime Melgarejo, Jr.
The local branch of PKF was hired to audit the operations in Bolivia for 2004 and 2005. We hope to have our 2005 financials completed by the end of February.
It is believed that over 2 billion ounces of silver has been mined in Bolivia. One of the oldest and most productive silver mines in the western hemisphere is the Cerro Rico Mine in Potosi, Bolivia. It is also believed that Bolivia has the 2nd largest gas reserves in South America.
Saturday, January 07, 2006
Franklin Mining, Inc. Reports on Silver and Gas Opportunity in Bolivia (Forward-Looking Statement)
From RedOrbit Breaking News . -
Posted by JRO at 2:13 PM