In a report provided to Franklin Mining, Inc. by COMIBOL, the estimated silver, tin and zinc reserves in the five announced veins and branches of the Cerro Rico Silver Mine have current market values of approximately $2.2 Billion USD. The Mining Corporation of Bolivia (COMIBOL) is Bolivia’s national mining company.
Franklin Mining Bolivia, S.A. is under contract to deliver 50,000 tons of Zinc concentrate at 47% minimum to a consortium representing multiple entities in Japan. This contract will permit Franklin to consolidate ore concentrates from both its Cerro Rico and Pulacayo resources. Japanese refineries recovering the zinc will also pay for the gold and silver content of the concentrate.
Zinc is the fourth most common metal in use, trailing only iron, aluminum, and copper in annual production and its number one use is to galvanize steel to prevent corrosion.
Macquarie Research Commodities expressed their opinion this week on the zinc marketover the next three to four years. A balanced market in 2007 may be followed by a surplus in 2008 and 2009 as a wave of mine production increases arrives in the market; but a serious tightening of zinc around the end of the decade seems to be a distinct possibility as existing mines are depleted.
Lower stocks and lower Chinese exports together with marginal pick up in demand will be enough to tip the zinc market into deficit, according to Macquarie. Once strong mine production in 2007 and 2008 begins to feed through into refined metals output, the outlook for the next two years would begin to become a matter of concern as stocks are set to expand.
Sources: Franklin Mining and Macquarie Research
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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