subject: Gold Stocks To Watch From Pennytobuck.com [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.
GOLDCORP INC. (NYSE:GG) announced that it has completed the acquisition of 19,047,721 common shares of Evolving Gold Corp. by way of a private placement at a price of C$0.82 per share for aggregate gross proceeds to Evolving Gold of C$15,619,131.
After giving effect to the transaction, Goldcorp beneficially owns and controls approximately 15% of the outstanding common shares of Evolving Gold. Pursuant to the terms of the private placement, Goldcorp has the right, subject to certain conditions, to participate in future equity financings and certain non-cash transactions undertaken by Evolving Gold to maintain its relative interest in the Company, for a period of up to five years.
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. Over 72% of Goldcorps reserves are in low political risk NAFTA countries.
Goldcorp has a solid pipeline of projects including the Eleonore gold project in Quebec, Canada, the Pueblo Viejo project (40% interest) in the Dominican Republic and the El Morro project in Chile. These valuable assets, along with several others, will allow for growth in production for years to come.
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