Franklin CEO Discusses Capital Financing Options for Mining and Energy Projects
Franklin Mining, Inc. Chairman and CEO William Petty released a special edition of his October 2008 Memo to Shareholders on Sunday, October 19, 2008.
Discussing capital financing options available for Franklin’s mine operation in Bolivia and pending GTL agreement in Argentina, Mr. Petty has advised shareholders that he has multiple options for each project. With its previously announced $1.6 million US budget, Franklin’s COMIBOL joint venture at Bolivia’s Escala Mine consists of five separate $300,000 US +/- processing plants. The company is currently evaluating lease-to-own and traditional debt financing options and expects to announce their decision in about six weeks.
Franklin’s pending GTL project in the Argentine Province of Tierra del Fuego is currently under consideration by both debt and equity financial partners. Mr. Petty expects negotiations on the GTL project to be complete within the next three weeks and a financing plan announced shortly thereafter.
Mr. Petty’s October 19, 2008 Memo to Shareholders is available at www.FranklinMining.com.
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and energy interests in the United States and Bolivia as well as energy interests in Argentina. Franklin Oil & Gas, Inc. and Franklin Mining, Bolivia are wholly owned subsidiaries. Franklin Mining, Inc. holds 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas International S.A. Additional information is available at www.FranklinMining.com.
