Orofino Gold Corp. (ORFG)
Orofino Gold Corp. is a Colombia based gold producer founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise.
The use of gold in the aerospace industry is fascinating. Gold is also used in the circuitry. If you are in need of parts that will hold up well without lubrication, maintenance or repair, gold will go the distance.
Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
Gold is used in aeronautical circuitry because it’s a dependable conductor and connector. And again, because of the reflective qualities, many parts are fitted with gold-coated polyester film. This helps reflect infrared radiation and assists in stabilizing the temperature onboard the aircraft. Without this coating, the dark-colored parts of the aircraft would absorb more heat, leading to a much higher rate of breakdown.
Orofino’s corporate objective is to continue to build shareholder value through the exploration and development of Senderos de Oro and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
Orofino Gold Corp. has been working with Colombian utilities supplier Electricaribe to establish power to the villages of the local populations within Orofino’s concessions. Buena Sena was supplied with electricity in July of 2010. And by mid May, Orofino expects to have complete electrical service established at La Azul.
La Azul’s connection is coming from an intermediate station operating at 13,200 cycles/second located in the town of Rio Viejo. Once operational, La Azul’s infrastructure is expected to initially be tied into a 50 kva transformer.
“When the power connection was established in Buena Sena last year, it was a very important date for that community,” explains Orofino President and CEO, Mr. Ary F. Pernett Marquez. “Imagine what it would be like to have publicly supplied electricity for the first time in your life. We’re excited that the residents and miners of La Azul will also be getting the benefits of such a vital piece of infrastructure.”
In addition to providing a critical piece of infrastructure to promote growth of La Azul village, Orofino expects the connection to the region’s power grid to significantly improve production capabilities of mine workers. As current production is being performed with outdated equipment powered only by generators, connecting La Azul to the region’s power grid will enable Orofino to introduce modern mining equipment and technology.
For more information about Orofino Gold Corp. visit its website www.orofinogoldcorp.com
Majestic Gold Corp. (MJS.V)
Majestic Gold Corp. announced that Wardrop, A Tetra Tech Company, (”Wardrop”) has completed and delivered a positive Preliminary Assessment (”PA” or “Preliminary Assessment”) for the Songjiagou Gold Project located in Shandong Province, People’s Republic of China.
Highlights are as follows:
– Net Present Value of US $525 million using a 10% discount rate.
– Internal Rate of Return of 78.6%.
– Payback in 1.4 years.
– Total gold production of 2.324 million ounces (average 105,645 oz/yr) for life-of-mine.
– Life-of-Mine strip ratio 1.87: 1 (waste to ore).
– Mine-Life of 22 years.
The Preliminary Assessment provided by Wardrop has exceeded their expectations and would form the basis for their continued development of the Songjiagou project.
Gold mineralization on Song Jiaguo is hosted by a series of steeply dipping, sub-parallel north-northeast trending fault zones within upper Cretaceous conglomerates overlying Proterozoic granitic rocks. The area of Song Jiaguo is interpreted as being the higher levels of a mesothermal system where gold bearing fluids have mineralized the matrix of the host conglomerates. The gold bearing quartz veins would then likely continue too much lower levels in the system.
Gold is an element, a metal, with an atomic number 79. Its physical and chemical properties make it ideal for a number of applications. It is very stable and as a result seldom combines with other elements. It conducts heat very well. Gold is very malleable which means it can be hammered into shapes.
Majestic Gold Corp. engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
For more information about Majestic Gold Corp please visit http://www.majesticgold.net
Unit Corporation (NYSE:UNT) announced that it intends to offer, subject to market and other conditions, $200 million aggregate principal amount of senior subordinated notes due 2021 in an underwritten public offering (the “Offering”). Unit intends to use the net proceeds from the Offering to repay outstanding borrowings under its credit facility and for general corporate purposes. BofA Merrill Lynch and BMO Capital Markets will act as joint book-running managers for the Offering.
Unit Corporation operates as a contract drilling company. The company operates in three segments: Contract Drilling, Oil and Natural Gas, and Mid-Stream. The Contract Drilling segment engages in the land contract drilling of natural gas and oil wells.
Holly Corporation (NYSE:HOC) reported first quarter 2011 financial results. For the quarter, net income attributable to Holly stockholders was $84.7 million ($1.59 per basic and $1.58 per diluted share) compared to a net loss of $28.1 million ($0.53 per basic and diluted share) for the first quarter of 2010. For the quarter, net income attributable to our stockholders increased by $112.8 million compared to the same period of 2010. This increase was due principally to the effects of significantly higher refinery gross margins during the current year first quarter.This factor was somewhat offset by decreased sales volumes of produced refined products.
Holly Corporation, together with its subsidiaries, operates as a petroleum refiner in the United States. It produces light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, specialty and modified asphalt, liquid petroleum gas (LPG), carbon black oil, and gas oil/intermediates.
Universal Health Services Inc. (NYSE:UHS) announced that Steve Filton, Senior Vice President and Chief Financial Officer will present at the Bank of America Merrill Lynch Health Care Conference in Las Vegas, NV on Wednesday, May 11, 2011 at 4:20 PM pacific time. A live audio webcast of the presentation will be available on the Company’s website (www.uhsinc.com). For those unable to listen to a live webcast, a replay will be available on the Company’s website for 90 days following the conference.
Universal Health Services, Inc., through its subsidiaries, owns and operates acute care hospitals, behavioral health centers, surgical hospitals, ambulatory surgery centers, and radiation oncology centers.
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