To: George C. Grasser who wrote (211 ) 6/27/1998 2:29:00 AM From: hopeful Read Replies (1) | Respond to
Your guess is as good as mine. My point has been that there is nothing out there at the Franklin Mine to support any mining program, the mill does not have a tailing pond according to the last information that was given (thought the company seems to avoid this issue), and the attempt to hook up with the Chain of Mine trust is very questionable (no third party evaluation of what they have in ore reserves or true assay reports). We don't even know if they are an active mine or another attempt at trying to put together a project so that something looks good on paper. With the price of gold as low as it is, running a profitable mining operation is not going to happen through the Franklin mine. The potential for success that everyone was excited about was directly related to Durango Metals working with Franklin and when Franklin messed that deal up, the future began to cave-in on us. The final chapter on that disaster will probable be dealt with in court per the annual report. Durango will not be allowing Franklin to "get off easy", as Franklin has gotten off in the past with other legal problems, by giving away shares. We don't know what happened there but we probably can assume that Durango didn't just "give up it's reserves and "break an agreement" putting itself at risk. Durango is looking to the court to address their sustained damages, and we have to hope that Franklin's position is defensible as they say it is in the annual reports. Why has the company not address this Durango issue more directly and honestly, rather that just say that the company will "defend" itself aggressively. If we don't have a case to support our position, it doesn't matter how aggressive we are, we can still lose.
