Orofino Gold Corp. (ORFG.PK) is a precious metals acquisition, exploration, and development company that has signed an option agreement to acquire several properties in Colombia , currently a hot spot of gold production.
ORFG has categorized the Senderos de Oro properties as good high priority, high return opportunities. These properties are in areas of known gold reserves, and have current small scale production of Gold. Recent samples returned values as high as 250 grams Gold with high copper values exceeding 10%. Geological trending indicates continuation at depth.
At the Orofino Gold Corp. 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 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.
For more information about this company please visit http://www.orofinogold.com/
Newmont Mining Corp. (NYSE:NEM) is primarily a gold producer, with significant assets or operations in the United States, Australia, Peru, Indonesia, Ghana, Canada, New Zealand and Mexico.
NEM is one of the world’s largest gold producers and is the only gold company included in the S&P 500 Index and Fortune 500.
NEM recently reported second quarter adjusted net income of $377 million ($0.77 per share) compared to $211 million ($0.43 per share) in the prior year quarter. Net income attributable to Newmont stockholders was $382 million ($0.78 per share) compared to $162 million ($0.33 per share) in the second quarter of 2009.
In addition, NEM recently reported that its Board of Directors approved an increase in the Company’s regular quarterly dividend from $0.10 per share of common stock to $0.15 per share of common stock, payable on September 29, 2010 to holders of record at the close of business on September 8, 2010.
For more information about this company please visit http://www.newmont.com/
Hecla Mining Co. (NYSE:HL) recently reported net income of $17.1 million in the second quarter of 2010, compared with net income of $2.5 million in the second quarter of 2009. After dividends to holders of its preferred stock, HL reported net income applicable to common shareholders of $13.7 million, or 6 cents per basic share, in the second quarter of 2010, compared to a loss of $0.9 million in the second quarter of 2009. Hecla’s mandatory convertible preferred stock will be converted into common stock in January 2011.
Cash flow from operating activities in the second quarter of 2010 was $54.0 million compared with $20.0 million in cash flow from operating activities in the same prior year period. In the second quarter of 2010, the company also received $45.6 million from the exercise of common stock purchase warrants and stock options. During the quarter, capital expenditures were $18.2 million compared to $7.3 million in the same prior year period. The increase is primarily the result of a ramp-up in capital expenditures, particularly with deep development at the Lucky Friday mine.
HL experienced the second highest gross profit and cash flow from operating activities in Hecla’s 119-year history.
For more information about this company please visit http://www.hecla-mining.com
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