Thanks for the info. How did you find out about the stock holder meeting? I was going to go out to the meeting also, but with this late notice, I may not get a chance (maybe you can get the truth behind the company messing up the one deal that would have turned this company around and that was to work with Durango Metals in a mutual beneficial arrangement (annual report 1995). Instead the company "assumed" Durango Mogul mine mineral rights (annual report 1996). Why do you think a mining company would turn over it's mineral rights just like that? Legal actions began. There has to be another side to this story over the chain of events that took Durango out of the picture and started the slide of Franklin's stock. Did a "move" by the Franklin backfire on Franklin. The slide in the price per share surely would point to that.
Also, hopefully there will be others there to question the company's action over the last few years, with misinformation and lack of it to it's stock holders, using of stock and diluting the stock to cover debts and legal judgements, and now the latest move that essentially turns the company over to someone and in essence puts the last "nails in the coffin" (sounds like how the present owners assumed control of the company - annual report, history of the company ). Sounding pretty discouraged, don't I?! What else can we think when the annual report admits that they don't have the expertise or funding to see this through ($750,000 require to just get the Franklin mine to the point of mining - that doesn't cover the daily expenses and the potential that the ore grade will not sustain an operation on it's own). A mill without ore, and a mine that isn't producing along with a lack of mining expertise, are not the ingredients for a successful mining company. Everything that they have suggested to us in a positive, has turned out to be wrong. It was almost as if they "gambled and lost", rather than having the ability to work on an appropriate business plan that would have turned the company around. |
