subject: Stock Update On Gg,nsu, Orfg From Pennytobuck.com [print this page] OROFINO GOLD CORP (ORFG.PK) is a new high growth gold company whose mandate is to acquire, explore and develop to compliant proven reserves major gold targets in historically rich gold bearing jurisdictions of Mexico and Colombia two of the most significant gold producing countries in the world. To this end ORFG has signed an option agreement to acquire several properties in Colombia.
Mr. John T. Martin was born and raised in Canada. He had the benefit of being educated in his formative years in both Ontario and Quebec. He graduated from the University of Toronto with a degree of Arts in 1972, and subsequently graduated with a LLB (Bachelor of Laws) from the University of Ottawa in 1975.
His first employment was with the Bureau of Intellectual Property in the Federal Government of Canada in the mid 70s. From there Mr. Martin moved to British Columbia, where he enjoyed a busy practice as a lawyer in various firms including his own, until 2003. Mr. Martins preferred areas of Law were Securities, Immigration, Real Estate and Debt Realization.
During his legal practice, Mr. Martin had the chance of meeting many clients from across the Pacific whether they were Chinese or Asians and hence acquired a good network in both China and Asia. Mr. Martin was a regular visitor to South East Asian countries, Hong Kong, Korea, Taiwan and China, since 1985.
Nevsun Resources Ltd. (AMEX:NSU) is pleased to announce that it has bought out a third party royalty on its Bisha project in Eritrea. The removal of this royalty further increases NSUs stake in Bishas future cash flows, resulting in an estimated net benefit of at least $0.20 per share. NSU paid Cdn$18,500,000 to acquire the 1.5% net smelter royalty on the project, previously held by an arms length private company.
The Bisha project continues on time and on budget to advance towards plant commissioning in Q4 of this year. The Company anticipates reaching commercial production before the end of Q1 2011, at which time its annualized output should exceed 400,000 ounces of gold, plus 750,000 ounces of silver, at a cash operating cost of less than $250 per ounce of gold. More details on the Bisha project, including cash flow estimates under various metals price assumptions can be found on NSUs website.
Nevsun Resources Ltd. is a gold and base metal developer with a focus on developing mining projects in Africa. Nevsun is currently focused on advancing its high grade gold, copper, silver and zinc Bisha Project in Eritrea. The Bisha Mine is in active construction with operations anticipated in late 2010. Progress pictures can be found here. The Bisha Mine will be a low cost gold producer for its first two years of production (approx. 430,000 ounces gold per year) and a low cost high grade copper concentrate producer (approx. 80,000 tonnes of contained copper metal per year) for a further three years. Thereafter the mine will produce separate zinc and copper concentrates. The Companys Eritrean portfolio provides a good base for future corporate growth. For information visit NSU at http://www.nevsun.com/
GOLDCORP INC. (NYSE:GG) is North Americas fastest growing senior gold producer. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.
GG has recently reported increased gold production of 609,500 ounces for the second quarter which combined with higher realized gold prices to drive record operating cash flow of $382.6 million. Reported net earnings attributable to shareholders of Goldcorp in the quarter were $828.3 million compared to a net loss of $231.6 million in the second quarter of 2009. Adjusted net earnings1 were $198.8 million, or $0.27 per share, compared to $99.2 million, or $0.14 per share, in the second quarter of 2009.
GG is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. The Companys operating assets include the Red Lake, Porcupine and Musselwhite gold mines in Canada, Peasquito, Los Filos, El Sauzal, and San Dimas gold/silver mines in Mexico, the Marlin mine in Guatemala, the Marigold mine (67% interest) and Wharf mine in the United States and the Alumbrera mine (37.5%) in Argentina.
To learn more about GG visit: http://www.goldcorp.com
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