Business
Letter to Shareholders
Letter to Shareholders.
About this update from Franklin Mining, Inc.
[{"type":"text","content":"Letter to our Shareholders,When I took back Franklin Mining in 2020, the company was valued at $200,000 market cap. The market cap is now over $20 million. My initial focus was to clean up the company and bring all of our filings current. Now that we have caught up on past dues owed by the previous administration, my focus is on our future mining prospects in Bolivia (gold) and Argentina (lithium).In December 2020, we ordered the green machine from Heckler Fabrication in California. The project was paid in full June 2021, with promises from Greg at Heckler Fabrication that shipping would begin upon completion. The green machine was completed November 2021 after a series of supply-chain delays prevented Greg from being able to finish the build. We have been working with Greg to find a transportation company that is able to ship the machine from California to Bolivia. In April, we were given a tracking number that listed May 20, 2022 as the day of arrival in Bolivia. Due to the shortage of shipping containers on the west coast of the US, the green machine is still located in California. I have been in close contact with Greg over this serious grievance to the contract, however, at this point it is in the hands of a third-party transportation company and patience is our only option. While we acknowledge the serious delays, we must also keep our eye on the prize and look forward to what the coming months will bring.Once a container is secured, it will be on its way to La Paz, through the port of Chile. It must be cleared through Bolivian customs before it can be transported to the mine.Due to the delay of the arrival of the green machine, I began searching for an alternative that would allow us to begin breaking ground quickly. I was offered a second-hand machine from a local mining company that was already located in Bolivia. This red machine is capable of processing 170 tons per hour. It is significantly larger than the green machine, with greater capabilities as well.The red machine was purchased in December 2021 and we began to repair and refurbish the electrical system, hoses, tires, mesh panels, among other things. The refurbishment process was completed in March 2022. We decided to move the machine to the Yuyo mine in the Apollo area. This area is only reachable by a dirt road, known colloquially as the Most Dangero...