OTC: FMNJ – Franklin Mining, Inc. — Stock Guru Profile
Franklin Mining gained 4,900% the first time we covered them. They are back in a big way.
Analysts forecast continued bull market for gold, silver
More than 10,000 hard-rock mining fans and hard-money aficionados received a resounding endorsement of the bull market for precious metals from a slate of equally bullish experts at the Vancouver Resource Investment Conference last week.
A panel of prognosticators kicked off the two-day conference, unanimously predicting higher silver and gold prices in 2007.
Washington-based newsletter writer David Morgan forecast a rapid rise in the silver price to $18/oz before mid-May. He noted that in a typical bull market, 90% of the price rise occurs during the final 10% of the bull cycle. “We are a long way from that point,” Morgan said.
Anthony Fell, chairman of RBC Capital Markets and former vice-chair of the Royal Bank of Canada, forecast a “material increase” in the price of gold, based on a further weakening of the US dollar, a worsening of the US foreign trade deficit, “inflation in the pipeline” and increased leverage in the financial markets. “I believe gold bullion is now in the very early stages of a long-term secular bull market, which will carry it to much higher levels over the coming decade,” said Fell. “At the Royal Bank, we trade gold bullion off our foreign exchange desks rather than our commodity desks because that’s what it is–a global currency.”
Henk Krasenberg of European Gold Centre, which hosts presentations by mining companies, quipped that “2007 will be a very bad and dramatic year for you, if you are not in the precious metals market. In terms of 1980 dollars, gold is still very cheap.” Toronto asset manager John Embry said that the bull market for gold and silver “is still in its stealth phase.” He noted that more people will invest in gold and silver because “the reasons are compelling, namely over-leveraged hedge funds, an implosion of the derivatives market which will result in a blizzard of paper” and a bursting of the US housing market bubble. “The financial problems are so intractable that we face the eventual collapse of the US dollar and the very real possibility of a depression; the Federal Reserve Bank will resort to unbridled money printing to hold this off,” said Embry. “The end of the dollar hegemony is at hand, but there is no other currency of any credibility to replace it. We are at the end of an era of global currency debasement. The current prices the mining industry is willing to accept for its metals are delusional.”
Embry added that at least one-third of the central banks’ gold reserves, or about 15,000 mt, has been sold into the market. “Gold still haunts the central banks, and silver will move more aggressively than gold; silver will shock the markets, doubling or tripling in price in the near term,” he added. Fell, too, is forecasting dire prospects for the dollar. “What will the record of the U.S. dollar be in another 20 or 30 years?,” he asked rhetorically. “Recent history does not augur well and it could be much worse…. A major currency realignment is coming, and the longer it is delayed, the more the risk of a crisis.”
He noted that the ingredients are present for major trouble in global financial and foreign exchange markets, and added: “I believe gold bullion will gradually re-emerge as an accepted alternative asset and investment.” Fell sees an acceleration of the uptrend in gold prices, even though he noted that a great deal of skepticism exists about the future of gold. “At present, most major investors now regard gold and gold shares with apathy and even disdain and are vastly underweighing the sector,” he said. “It is my view that gold bullion, rather than being the barbarous relic described by John Maynard Keynes, may well become the asset of choice for many investors over the coming decade.”
Source: Franklin Mining and Platts Commodity News and Metals Week
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
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.
Disclosure: Pentony Enterprises LLC has been compensated a total of five million two hundred sixty five thousand free trading shares from a non-controlling third party for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. It is the policy of Pentony Enterprises LLC to sell all shares of this and any company featured. Anyone considering any company we feature in consideration for free trading shares should consider this. Pentony Enterprises currently holds one million free trading shares and John Pentony holds two hundred twenty five thousand shares purchased in the open market.
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com .