Uranium Energy Corp. (AMEX:UEC) is pleased to announce three new appointments to top management and to the Board of Directors, effective immediately. Director Mark Katsumata is appointed as the new Chief Financial Officer. David Kong is joining the Board of Directors to replace Mr. Katsumata. Pat Obara, the Company's Chief Financial Officer for the last four years, is appointed as Vice President-Administration. As VP Administration, Mr. Obara now has senior responsibilities over the Company's continued expansion. M. Katsumata, having earlier served as CFO and VP Finance for mining companies including Denison Mines Corp.
Uranium Energy Corp., a natural resource exploration company, engages in the exploration and development of mineral properties in the United States. It primarily explores for uranium.
Orofino Gold Corp. (PINK:ORFG) has several Gold development properties in Colombia, a current hot spot of gold production in the world markets. Orofino Gold is please to report that the Board Of Directors have appointed Mr. Ning Shi Long as Chairman of the Board and Executive Director. Mr. Ary Fernando Pernett Marque has been appointed as the new President/CEO & Executive Director of Orofino Gold Corp. Mr. Pernett will be responsible for all affairs of Orofino Gold in Colombia.
Mr. Pernett has 30 years of experience working in the Colombian Mining sector and will over the near term choose his new development team to assist in the development of Orofino Gold’s Senderos de Oro gold camp in the Sur de Bolivar Colombia. Orofino Gold and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, Orofino Gold’s legal counsel as well as Discovery Consultants, (The Qualified 43-101 team) Canada, as they have in the past.
The new team will now aggressively pursue other known Gold occurrences in the companies Senderos de Oro Gold Camp while the development team works to improve production at La Azul Mine. Geologically similar to Angostura and Ventana but higher grade, open at depth and to the west toward La Azul. The observed metallogenic zonation around Senderos de Oro evokes a very viable “hidden porphyry” exploration model. Based upon exploration carried out to date, it is clear that the area hosts significant resources of gold, copper and silver, which, facilitated by the current database and favorable topography, has generated excellent “fast-trackable” bulk-tonnage or high-grade underground Au-Ag-Cu exploration targets. The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of Orofino Gold.
His resignation is effective immediately. Orofino Gold wish him well and success in future endeavors. Orofino Gold Corp. engages in acquisition, exploration, and development of gold properties in Mexico and Colombia. Orofino Gold has an option to acquire properties in the Sur de Bolivar Department of Colombia South America. Although primarily used as a store of value, gold has many modern industrial uses including dentistry and electronics. Gold has traditionally found use because of its good resistance to oxidative corrosion and excellent quality as a conductor of electricity.
Nevsun Resources Ltd (AMEX:NSU) is pleased to announce its successful first gold pour at the Bisha Gold Mine during late December. The first pour was part of the plant commissioning process and rendered two dore bars totaling 26 kilograms (approx. 920 ounces).President Cliff Davis stated, "Nevsun's first gold pour is a tremendous achievement that has been accomplished by a team of outstanding professionals on the ground in Eritrea and with the continued support of the Eritrean Government. It gives me great pleasure to say we are on time, under budget, and will considerably further the country's development with the realization of Eritrea's first modern day mine.
Nevsun Resources Ltd., a natural resource company, together with its subsidiaries, engages in the acquisition, exploration, development, and production of mineral properties.
Proper Power & Energy, Inc. (OTCBB:PPWE) commented on a Wall Street Journal Article titled “Oil’s Rise Is a Sticky Situation for Recovery”. (Dated January 12, 2011 Section C). The article discussed the current environment of rising oil prices and its effect on consumers and the impending economic recovery. With oil prices at nearly $90 per barrel, consumers fear oil prices will return to their 2008 levels, when oil peaked over $145 per barrel. “A 2008 – style shock isn’t a certainty, but an upward trend is clear. Goldman Sachs expects oil prices to average $100 a barrel this year….,” the article is quoted as saying.
Proper Power has begun production on its Kentucky oil asset, in addition to the 11,000 acres leased for its exploratory prospect in Utah. The Utah prospect has the potential for over 75 wells. Exploration wells are typically used to describe wells in areas where there are no proven economic oil or gas wells. Certain of these types of wells may be called ‘wildcat’ wells. Exploration wells involve a high amount of risk as well as potentially high returns. The risk that investors may not find oil and/or gas is ‘geological’ risk. Most of the wells drilled today are development wells. Development wells are wells drilled in areas of known reserves. As a result, the risks involved are considerably lower.
Proper Power & Energy believes the Utah property holds very substantial recoverable reserves, indicated through seismic and radiometric analysis. Typically with developmental wells the risk is not geological (e.g. whether natural gas or oil will be found), but mechanical risks. Mechanical risks are things that may go wrong in the drilling process, like a section of pipe is dropped down the hole which then has to be ‘fished’ out. However over the past decade or so, with advances in technology, the mechanical risks have dropped considerably.
As a result, with most wells drilled being developmental wells and advances in technology, the successful completion rate of wells today has been reported to be significantly higher compared to the successful completion rates from the 80s and early 90s. Note: successful completion doesn’t necessarily mean economically viable. Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas. The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.
International Tower Hill Mines Ltd. (AMEX:THM) is pleased to announce its 2011 Exploration Program at the Livengood Gold Project near Fairbanks, Alaska, and the addition of key new corporate and project personnel. The planned 2011 exploration program, budgeted at approximately $10 million, will include 45,000 metres of resource expansion and in-fill drilling at the Money Knob gold resource along with a 10,000-metre district-scale new discovery exploration program.The 2011 Exploration Program will commence in early February and include a $7.5-million, 45,000-metre resource expansion and in-fill drill program focused on the Money Knob deposit, which currently hosts an Indicated gold resource of 10.9 million ounces.
International Tower Hill Mines Ltd. engages in acquiring, exploring, and evaluating mineral properties in Alaska and Nevada.
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