subject: Orfg.pk And Ngd Producing Gold For Us All - Pennytobuck.com [print this page] ORFG, Orofino Gold Corp., ORFG.PK ORFG, Orofino Gold Corp., ORFG.PK
ORFG has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
At the ORFGs 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 ORFGs 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 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.
NGD, New Gold Inc.
NGD is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012.
During the second quarter of 2010, NGD continued its focus on delivering operationally while also streamlining the asset portfolio and enhancing the financial flexibility of the company.
Looking forward, production is anticipated to continue to grow in the second half of the year coupled with declining cash cost.
Mesquite is expected to continue its strong production with a focus on reducing costs. Cerro San Pedro has now reached its steady-state mining rate and recoveries from the leach pad are expected to continue to improve over the second half of the year. Per the mine plan, Peak Mines should be entering higher gold grade zones which will positively impact production and costs in the second half of 2010.
NGD reiterates its 2010 full year guidance of 330,000 to 360,000 ounces of gold production at a total cash cost of $445 to $465 per ounce sold, net of by-product sales.
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