subject: Pink:orfg, Cmp, & Sila: Sila Entered Into A $7.5m Financial Agreement With A European Institution [print this page] Orofino Gold Inc (Pinksheets: ORFG.PK) is a precious metals acquisition, exploration, and development company thats offering investors a golden opportunity.
When the dollar is devalued, the price of gold goes up as this metal becomes a safe haven for traders. Orofino Gold Corp. knows the value of gold in todays economy and has recently signed an option agreement to acquire several properties in Colombia, a current hot spot of gold production.
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 the precious metals acquisition, exploration, and development company four very strong targets and two extremely rich structures to target for gold and copper. Orofino 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 is a precious metals acquisition, exploration, and development company.
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Compass Minerals (NYSE: CMP)
North American Salt Company, a subsidiary of Compass Minerals (NYSE:CMP), announced the addition of a new, premium, pet-friendly product to its Safe Step family of ice melters. Sure Paws, an all-natural, fast-acting ice melter, doesnt irritate pets paws but melts ice down to minus 15 degrees Fahrenheit. Pets are an important part of families, so this extremely efficient product will keep residential driveways and walkways safe but is easy on pets paws and skin, said Jerry Bucan, vice president and general manager of NASCs consumer and industrial business.
CMP is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K.
Compass Minerals (NYSE: CMP) reports the following results of its second-quarter 2010 operations:
* Sales were up 12 percent over the prior-year quarter, reflecting stronger specialty fertilizer and U.K. highway deicing sales volumes and improved salt pricing, partially offset by lower specialty fertilizer average selling prices.
* Net earnings for the three months ended June 30, 2010, were $11.3 million, or $0.34 per diluted share, compared to $14.1 million, or $0.42 per diluted share, in the 2009 quarter. Excluding special items from the 2009-quarter results, net earnings were $17.1 million, or $0.51 per diluted share.
* Operating earnings declined to $18.4 million in the current quarter from $34.8 million in the second quarter of 2009, primarily due to lower average selling prices for sulfate of potash specialty fertilizers and the impact of reduced salt production.
* Second-quarter cash flow from operations increased $57 million over the prior-year quarter. For the six months ended June 30, 2010, cash flow from operations nearly doubled to $171.1 million from $88.3 million for the six months ended June 30, 2009.
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Gold American Mining Corp. (OTC.BB:SILA)
Gold American Mining Corp. precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.
Gold American Mining reported on May 11, 2010, that the Company entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. We are pleased to announce that up to date we have received funds in the amount of $300,000 in virtue of this agreement and that we still have a balance of $7.2 million that we could call upon to fund our exploration and acquisition strategy. During 2010, we have received total equity subscription proceeds of $500,000.
The funding will be utilized by Gold American in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico, which is located approximately 5 miles north of the world's richest underground silver mine, operated by the +$10 billion London Stock Exchange-traded company, Fresnillo plc.
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