Franklin Mining gained 4,900% the first time we covered them. They are back in a big way.
Franklin has a contract to process the tailings of the Cerro Rico Mine in Bolivia. This is called the Pulacayo Project. In fact there are 4,001,800 tons of tailings but in doing the math we are rounding this down to FOUR MILLION TONS.
The price of gold closed yesterday at $646.90. The price of silver closed at $12.90. Zinc closed at $1.4656.
If you link to the published study and analysis of the tailings on page sixty-one you will find the heart and soul of this report. This is the information that explains precisely why the cash flow will be immediate and the percentage of gold and silver that will be obtained from the tailings site. (We will cover zinc later.)
The first point explains this contract and site embraces Four Million Tons of tailings.
The second point explains that based on the analysis of the tailings the grade of gold that can be expected to be recovered is 0.7 grams of gold per ton of tailings.
The second point further explains that based on the analysis of the tailings the grade of silver that can be expected to be recovered is 53.5 grams of silver per ton of tailings.
The third point explains that gold will be found in 53 percent of the tailings.
The third point further explains that silver will be found in 20 percent of the tailings. There will not be as much silver recovered as gold.
Silver Analysis:
4 M Tons of tailings exist. Silver can be expected to be recovered from 20 percent of those tailings or 800,000 Tons of tailings will contain silver.
Silver is expected to be found at 53.5 grams per ton of silver.
53.5 grams per ton at 800,000 Tons is 4,280,000 grams of silver in total to be obtained from the project.
1 troy ounce = 31.1034768 grams
4,280,000 grams of gold = 1,376,051 troy ounces of silver.
1,376,051 troy ounces of silver multiplied times the price of silver at yesterday’s close or $12.90 per ounce is $17, 751,070.00. USD.
Gold Analysis (Review)
4 M Tons of tailings exist. Gold can be expected to be recovered from 53 percent of those tailings or 2.12M Tons of tailings will contain gold.
Gold is expected to be found at 0.7 grams per ton of gold.
0.7 grams per ton at 2.12 M Tons is 1,484,000 grams of gold in total to be obtained from the project.
1 troy ounce = 31.1034768 grams
1,484,000 grams of gold = 47, 711 troy ounces of gold.
47,711 troy ounces of gold multiplied times the price of gold at yesterday’s close or $646.90 per ounce is $30,864,245.00. USD.
Stay tuned: The zinc analysis is equally incredible.
Then there is the extremely low cost of recovery. No mining involved. Just sifting through the tailings. This is an amazing project and we are going to examine it in very close detail.
Literally a golden opportunity from a company that has proven its ability before.
Contact:
Investor Relations
A. Austin & Company
1-702-386-5379
SOURCE: Franklin Mining, Inc.
Jaime Melgarejo Jr., President
Franklin Mining, Inc.
2764 Lake Sahara Drive
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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