The trading week might be coming to a close today but investors are going to be very active nonetheless in their quest to discover new stocks to track. One of the companies which you could consider looking into today is Franklin Mining (OTCMKTS:FMNJ), which was in the news yesterday following a key announcement.
Trading Data
On Thursday, FMNJ stock gained 0.90% to $0.0112 with more than 18K shares traded, compared to a volume of 164K shares. The stock moved within a range of $0.0112 – 0.0112 after opening trading at $0.0112.
Franklin Mining Retains Geologist Michael Biste to Prepare for Gold Mining
On Thursday Franklin Mining announced that it had completed the hiring of Dr. Michael Biste, who is a geologist of world renown. Biste is going to be responsible for the building of a business operation plan for Franklin Mining as it gets ever too close to actually producing gold.
It was a major new announcement and one that could have a significant effect on the company in the long run. The location at which Franklin Mining is planning to recover alluvium gold tailings is situated in the Yuyo area. As a matter of fact, machinery has already been deployed in the area ahead of the planned mining operation.
In this context, it is important to note that Biste has already begun coordinating Nick Jones, the Chief Executive Officer of the company, and Fernando Freudenthal, the Bolivia Vice President of the company for finalizing the order of operations.
Key Quote
“Dr. Biste has worked with respected mining companies such as Golden Eagle, Behre Dolbear, Glencore, and even Franklin Mining from 2006-2010,” announced Mr. Petty. “With an impressive resume spanning more than four decades in Bolivia, there is no one more qualified to lead Franklin to success than Dr. Biste. I have known him and known of him for many years, and we couldn’t be happier to have him on board.”
Technical Data
FMNJ stock is trading below the 20-Day and 50-Day Moving averages of $0.0113 and $0.0123 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0169. The company has a total market capitalization of $19.38 million. The stock is down 10% over the past month.
