December 5, 2016…
I am pleased to have this opportunity to provide an update on progress being made as I continue restructuring the Franklin Mining management team in anticipation of 2017.
As previously announced, the Board of Directors appointed a new President effective October 17, 2016. In addition, Mr. Robert Kinney will assume the additional role of Chief Operating Officer effective January 3, 2017. Within the next few weeks, you will begin to realize the benefit of Robert Kinney having joined our team … he and I have agreed that he will make it his purpose to post regular progress reports as we conclude 2016 and begin 2017; these reports will appear on our web-site monthly.
One of our most critical steps as we prepare for and then begin the New Year is to bring the Company again current in both Disclosure Statements and Financial Reports. Mr Kinney and I are working with the accounting staff and will have all required documents posted and available for public review by mid-January 2017. When posted, the Company’s reporting and disclosure requirements will have been brought current through December 31, 2016 – needless to say, preparation of all documentation required for this two calendar year report has already begun in anticipation of a mid-January 2017 release.
Another step critical to the company’s success in 2017 is the addition of several new officers and directors. Each of these positions has been defined, qualified candidates have been contacted and are anxious to begin their assignments in January 2017.
With most of the Company’s current assets and immediate business opportunities located in the Republic of Bolivia, it is also necessary that I make some changes in personnel in both our La Paz and Santa Cruz offices. Current employees and consultants in Bolivia will be retained with expanded roles to be played in the coming year.
Disappointingly, several of the Company’s processing agreements with outside vendors have not proven to be workable. Mr Kinney and I are in the process of identifying new vendors then evaluating and negotiating new agreements.
The Company’s inability to establish an ongoing processing agreement in Bolivia was the greatest obstacle to the establishment of cash flow by year end 2016. I’m sure you will understand when I tell you that I am personally disappointed the Company did not achieve processing status in 2016.
However, I am pleased with what was accomplished in 2015 and 2016. Most important, I am pleased to have the assistance of Bob Kinney and other soon to be announced officers and directors as we complete an evaluation the Company’s present status and begin establising successful relationships with processors and other necessary vendors in Bolivia.
As you’ve heard me say before … Franklin has a ways to go but the path we are now on will result in a strong financial performance in 2017 and produce greater shareholder value. After years of pursuing options, developing numerous opportunities, Franklin Mining’s future is bright. And I sincerely appreciate your support and your patience
William A. Petty
Chairman, CEO and President, Franklin Mining, Inc.
Disclaimer: This letter 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.
The information provided through this letter is intended solely for general knowledge and does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares. Franklin Mining, Inc. makes no representations or warranties as to the accuracy, reliability, completeness or timeliness of such information.
About Franklin Mining, Inc: Franklin Mining, Inc. holds mining and energy interests in the United States and Bolivia.
Although the company believes that all statements made in this letter are based on reasonable assumptions, Franklin Mining, Inc. reminds all readers that our primary operations are in high-risk industries in countries often considered high-risk areas of investment.