OTC: FMNJ – Franklin Mining, Inc. — Stock Guru Profile
Tierra del Fuego is the isolated province at the southern most point of Argentina. It is home to the famed Patagonia Tierra del Fuego is the archipelago which is home to the dangerous and infamous Cape Horn , the watery grave of many ancient sailors.
Franklin is locating one gas to liquid plant in Argentina.
With Argentina’s rapid economic recovery in the past two years, gas and electricity demand has grown exponentially forcing the government to grant incentives to producers to ramp up production again as wellhead prices recover. As winter approached supply was still lagging behind demand and Argentina continues in an energy crunch. The government implemented emergency cuts on gas flows to industrial producers and exports to neighboring Chile.
Argentina’s Outlook:
Argentina is returning to strength and reaching an economic stride that appears to be advancing in a stable manner.
Analysts said that in Argentina the Merval index could rise between 5 and 13 percent in 2007, mainly supported by the growth of the local economy and steelmaker Tenaris , a big producer of tubes for the oil industry.
Argentina has posted its first company on Forbes 200 top worldwide companies’ list. Telecom Argentina, ranked 1,858th. A total of 57 countries were represented.
A more interventionist role for the state, especially regarding infrastructure and energy will target a competitive exchange rate to support growth in the tradeable sector of the economy. Price controls are expected to be used to achieve policy goals, at least until the 2007 election and quite possibly in 2008. Argentina repaid the US $9.5bn owed to the IMF in January 2006.
The economy has rebounded from its deep recession in 1999-2002, stimulated by the devaluation of the peso and high commodity prices. Inflows of foreign direct investment (FDI) are expected to average around 2% of GDP . The outlook is for a slowdown in GDP growth towards Argentina’s annual potential rate (estimated at 4%) and a gradual decline in fiscal surpluses, reducing the public debt ratios.
To Stock Guru, Franklin looks like its in the middle of a win situation in a country with increasing foreign investment, a solidly expanding GDP, and an agreement that needs Franklin’s resources in a serious way.
Contact:
Investor Relations
A. Austin & Company
1-702-386-5379
Jaime Melgarejo Jr., President
Franklin Mining, Inc.
2764 Lake Sahara Driveoli
Suite 111
Las Vegas, NV 89117
Website: http://www.franklinmining.com
Phone: 702-944-8972
Fax: 702-838-5130
Source: Reuters
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and exploration interests in the United States, Argentina and Bolivia including a wholly owned subsidiary, Franklin Mining, Bolivia S.A, and 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.
“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.
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