OTC: FMNJ – Franklin Mining, Inc. — Stock Guru Profile
Franklin Mining and COMIBOL have entered into a joint venture agreement for the Pulacayo Tailings Project and the Cerro Rico Mining Project.
For the Pulacayo Tailings Project the contract specifies that Franklin Mining, Inc owns 51% of this project in exchange for capital and COMIBOL is their joint venturer.
The terms of the Cerro Rico contract specify that Franklin Mining, Bolivia will provide the first invest $140,000.00 USD in a development plan. Once the plan is reviewed and approved, Franklin is to begin plans for production and after repayment of investment then COMIBOL will participate with Franklin on a 50/50 basis on the profits.
WHO IS COMIBOL???
Comibol and Franklin have entered into beneficial agreements. The national revolution of 1952 was one of the most important events in Bolivian history. It was led primarily by the militant, armed miners, who, after the revolution, pressured the government into nationalization and other reforms.
Comibol, the Spanish acronym for, Corporacion Minera de Bolivia, is the Bolivian state-owned mining company. A system of control obrero or worker control exits allowing workers to participate in management decisions through having union representatives sit on the board of Comibol.
In 1990 Comibol became a holding company. This designation was designed to introduce foreign investment and joint ventures to support Comibol’s holdings. It is important for Comibol to access investment required to increase bot production and intensive exploration. That is what Franklin brings to the table.
Franklin provides Comibol with the capital and the expertise needed to explore the vast and historical mining of the Potosi section of Bolivia. With their management team firmly in place and routed in Bolivian mining history Franklin Mining is ready to generate an immediate cash flow from the tailings project and expand its operation into the hard rock mining of the Cerro Rico.
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.
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