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Microcap & Penny Stocks : FKCM- a turnaround story for 0.09
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To: bazan who wrote (198)5/18/1998 9:03:00 AM
From: hopeful   of 213
 
The main problem here is that the only thing that would have turned this company around as far as mining was the hook up with Durango's potential. I think we will be told eventually that the company doesn't have a profitable mine and the mill can't mill outside ore. (they were planning to mill Durango's ore by way of forming new joint company. That is were Newmineco came from - see annual reports and news releases from 1995 and early 1996. The problem being that though Franklin let Durango down and now is being sued by Durango, the benefit/profit of milling Durango's ore was lost. The news releases about the Mogul Mine in 1997 was misleading at the least and in reality didn't understand where the ore was coming from, it was coming from Durango's leases and not the Franklin(Island)/Rugg lease. Indeed, the Franklin/Rugg lease itself was canceled. NO MORE ORE POTENTIAL. That doesn't leave much to support the price of the stock. I don't see the company having enough working capital to pay Martucci back (were ever the money went, I don't know ) and Martucci will have the assets of the company turned over to him as payment for his lien -1997 annual report. The company will have changed hands again, in a "nice" easy take over and the independent stock holders can't do a thing about it.
Whatever is said at the meeting probably will only be "big talk and promises like any other time". I have put a sale order on my shares but I don't expect that it will go through because as a small stock holder I am not given priority. That is our plight.
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