A total of 165,000 tonnes of gold have been mined in human history, as of 2009. This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8,500 m³, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
It is known to all that the primary use of gold is associated to jewelry. About 78% of the gold consumed each year goes in the manufacture of different jewelry products.
Colombia is Latin America's fifth largest producer of gold.
Colombia's Social and Investment Promotion:
- Stable democracy for over 150 years
- Growing, educated work force
- Good infrastructure
- No history of nationalizing foreign holdings or defaulting on foreign debt
- Northern extension of the mineral-rich Andes Cordillera
- Current government promoting rapid growth in mining sector
- Juan Manuel Santos recently elected President (former Defense Minister during Alvaro Uribe's administration, will continue to promote foreign investment and mineral resource development)
ORFG has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
ORFG is a US (Nevada) company established for the purpose of creating a significant exploration and mining group operating in Colombia.
The major criteria for selection of properties will include:
- Significant historical production
- Favorable geology for hosting major ore bodies
- Significant property area for large target exploration
- Recent results available
- Favorable infrastructure and access to allow mine development
- Receptive local government and populace.
In addition ORFG has acquired a database comprised of exploration and mining results from previous operators who left when the global mining sector experienced a major downturn in the 1997-2000 time frame.
All properties meet the above criteria outlined above.
The second part of the Company's strategy to become a recognized player in the Colombia mining sector was the acquisition of an interest in an operating mine. ORFG has acquired a 55% interest in the La Azul/La Estrella property with the rights to acquire up to 80%.
La Azul is one producing artesanal mine in the Senderos de Oro area controlled by ORFG, it is a mixed sequence of predominantly volcanic rocks with the vien systems comprised of high grade chalcopyrite, galena and sphalerite with pyrite in quartz viens.
It has been interpreted (by Shaw 1993) that the metallogenic zonation around the La Azul workings evokes a very viable "hidden porphyry" exploration model. This interpretation and the prospectivity of the area have been confirmed by the Orofino "qualified person" as per the 43-101 rules.
According to the company, ORFG will move ahead aggressively in the last quarter of 2010 to persue the current interpretations, work programs and drilling will begin soon.
More about ORFG at www.orofinogold.com
Campus Crest Communities, Inc. (NYSE:CCG) recently reported that its Board declared a quarterly dividend of $0.16 per common share. For the fourth quarter of 2010, the dividend payout will be adjusted on a pro-rata basis, due to the timing of the closing of the Company’s initial public offering on October 19, 2010. Shareholders of record on December 29, 2010 will receive a pro-rated dividend of $0.127 per common share, payable on January 12, 2011.
Campus Crest Communities, Inc. focuses on building, owning, and managing student housing properties in the United States. It leases student housing; offers student housing services; and provides development, construction, and management services.
First Business Financial Services, Inc. (Nasdaq:FBIZ) recently reported that its board of directors has declared a quarterly cash dividend on its common stock of $0.07 per share.
The 2010 annualized dividend amount is $0.28 per share. The cash dividend is payable on January 15, 2011 to shareholders of record at the close of business on January 1, 2011.
Southwest Airlines Co. (NYSE:LUV) recently reported that its Flight Simulator Technicians, represented by the International Brotherhood of Teamsters (IBT) Airlines Division, voted to ratify an extension to their current agreement. The agreement is for a two-year contract extension through October 2013. The current contract would have become amendable on November 1, 2011. "I want to congratulate both sides for ratification of a contract that delivers mutually beneficial enhancements to pay, benefits, and work rules to our dedicated Flight Simulator Technicians," said Mike Van de Ven, Southwest Airlines Executive Vice President and Chief Operating Officer. "The negotiating teams were able to balance our competitive needs with our Technicians' requests to quickly come to an agreement as we head toward our 40th year of operation.
Southwest Airlines Co. operates as a passenger airline that provides scheduled air transportation in the United States. As of December 31, 2009, it operated 537 Boeing 737 aircraft and provided service to 68 cities in 35 states. The company also sells frequent flyer credits and related services to companies participating in its Rapid Rewards frequent flyer program, including car rental agencies, hotels, restaurants, and retail locations.
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