Orfg.pk, Sa And Kry On Pennytobuck Stock Report
Orofino Gold Corp., ORFG.PK
Orofino Gold Corp., ORFG.PK
ORFG.PK has taken a shine to Colombia .
And no wonder the country is one of the major gold-producing companies in the world. Results from mineralized and un-mineralized material samples, as well as selected representative samples collected from its Colombian projects that ran higher than expected in gold, silver and copper, give ORFG.PK, a precious metals acquisition, exploration, and development company, four very strong targets and two extremely rich structures to target for gold and copper.
ORFG.PK will now implement an airborne magnetometer program, as well as begin site preparation for the diamond drilling planned to take place in the second quarter of 2010.
ORFG.PK has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
At the ORFG.PK's Senderos de Oro project, government recorded Gold production from the area has been significant with production records between 1987 to present of over 1,300,000 ounces. All production has been Artisanal (small miners) in nature and production continues to this day.
With the frequent occurrence of the very high grade gold vein systems in the central area of ORFG.PKs Senderos de Oro project and with several small scale grinding and amalgamation mills in-place ORFG is planning to design a central processing and recovery facility that is modular in design (each additional module added creates 10,000 ounces of annual production) and will be capable of processing enough high grade material to produce up to 120,000 ounces of gold annually while ORFG continues to explore further the Primary Porphyry Target which is the bulk minable gold/copper porphyry systems.
ORFG.PK has reviewed several engineering and design firms with gold production facilities design and operational experience and is currently creating a short list prior to engaging the design team.
ORFG intends to continue the relationships currently enjoyed with all government agencies, the local communities, as well as current production teams and will involve these groups in all major processing and production planning decisions.
More about ORFG.PK at www.orofinogold.com
Results from the first eight holes drilled by Seabridge Gold, Inc. (AMEX:SA) at the Iron Cap target have confirmed a new, large potentially bulk minable deposit at KSM which could substantially improve project economics. Results to date include wide intercepts of gold, copper and silver grades above the KSM average. Infill drilling will now proceed at Iron Cap with the aim of establishing new proven and probable reserves to be included in mine plans for the project.
Seabridge holds a 100% interest in several North American gold resource projects. SA's principal assets are the KSM property located near Stewart, British Columbia, Canada and the Courageous Lake gold project located in Canada's Northwest Territories. For a breakdown of Seabridge's mineral resources by project and resource category please visit the Company's website at http://www.seabridgegold.net/resources.php. To read more on this article and past articles click here or go to http://finance.yahoo.com/q/h?s=SA+Headlines.
Crystallex International Corporation (AMEX:KRY) has completed its previously announced financing of 70,000,000 units (the "Units") at C$0.50 per Unit (the "Offering Price") for gross proceeds of C$35,000,000. Each Unit consists of one common share (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant") of the Company. Each Warrant entitles the holder to acquire one Common Share at a price of C$0.70 until June 30, 2011. The Units were sold on a bought deal basis by a syndicate of underwriters (the "Underwriters").
KRY has granted the Underwriters an over-allotment option to purchase up to an additional 10,500,000 Units and/or up to an additional 5,250,000 Warrants, exercisable at any time prior to the date that is 30 days following the closing of the offering. If this option is exercised in full, the gross proceeds to Crystallex would increase to C$40,250,000.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and these securities may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) without registration under the U.S. Securities Act and any applicable state securities laws unless an exemption from registration is available. This news release is not an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Crystallex International Corporation is a Canadian-based gold company with an 18 year history of building and operating gold projects in Venezuela. Subject to the final permitting and construction at Las Cristinas, the planned development should lift Crystallex into the ranks of an intermediate gold producer. For more information on KRY visit http://www.crystallex.com/
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by: Bill Pennyman
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