The Blackstone Group L.P. (NYSE:BX)
The Blackstone Group L.P. recently reported its third quarter 2010 results.
Economic Net Income was $339.3 million for the third quarter of 2010, an increase of $63.9 million from $275.3 million, or 23%, for the third quarter of 2009. Economic Net Income was $904.9 million for the nine months ended September 30, 2010, an increase of $531.2 million compared to Economic Net Income for the nine months ended September 30, 2009 of $373.8 million. The increase in Economic Net Income was principally driven by increased Performance Fees and Allocations and Investment Income.
For the third quarter of 2010, Total Segment Revenues were $792.2 million, up significantly from $603.8 million for the third quarter of 2009. The improvement was driven by greater Investment Income derived from an increase in the carrying value of the underlying portfolio investments in the Private Equity and Real Estate segments, and by increases in Performance Fees and Allocations in the Real Estate and Credit and Marketable Alternatives segments. These increases were partially offset by decreased fees earned in the Financial Advisory segment.
According to reports, The Blackstone Group is finalizing a new $15 billion fund, the largest fund for buyout deals since the financial crisis erupted and one of the largest on record.
The Blackstone Group, L.P., together with its subsidiaries, provides alternative asset management and financial advisory services worldwide.
Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
La Azul - Senderos de Oro Area: 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.
ORFG will move ahead aggressively in the last quarter of 2010 to persue the current interpretations, work programs and drilling will begin soon.
San Carlos - Senderos de Oro Area: 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.
Culo Alzado: Regional geochemistry (stream sediments & soils) has outlined three potential areas for more detailed exploration.
All areas have similar NE–trending structural control, historic workings.
Most advanced target – 1500 meters long with many historic tunnels and rock sample results up to 253.1 g/t gold; pending soil grind results, drilling planned in 2011.
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. ORFG will be mobilizing drills in the first quarter of 2011.
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.
To learn about ORFG visit: http://www.orofinogold.com
NovaGold Resources Inc. (AMEX:NG) announced the appointment of Ron Rimelman to the position of Vice President Environment, Health, Safety & Sustainability."Mr. Rimelman brings extensive environmental, safety and permitting expertise to NovaGold's senior team," said Rick Van Nieuwenhuyse, President & CEO of NovaGold. "His experience permitting and managing northern mining projects, and the relationships he has fostered with local communities and regulators, will be invaluable as NovaGold advances Donlin Creek and Galore Creek through permitting and toward construction and production."
NovaGold Resources Inc., through its subsidiaries, engages in the exploration and development of mineral resource properties in Alaska and British Columbia. It primarily explores for gold, silver, copper, zinc, and lead ores. The company was formerly known as NovaCan Mining Resources (1985) Limited and changed its name to NovaGold Resources Inc. in March 1987. NovaGold Resources Inc. was founded in 1984 and is based in Vancouver, Canada.*****************************
The LGL Group, Inc. (AMEX:LGL) confirmed that its 2010 Annual Meeting of Stockholders held on Wednesday, December 15, 2010. At The Union League Club, 38 East 37th Street, New York, NY 10016. For information visit the Company's Web site: www.lglgroup.com.
The LGL Group, Inc., through its subsidiary, M-tron Industries, Inc., designs, manufactures, and markets custom-designed engineered electronic components that are used primarily to control the frequency or timing of signals in electronic circuits. Its frequency control devices consist of packaged quartz crystals, crystal oscillators, and electronic filters.*****************************
PharmAthene, Inc. (AMEX:PIP) announced that the United States Food and Drug Administration (FDA) has provided formal consent for PharmAthene to reinitiate clinical testing of its anthrax anti-toxin, Valortim®, after lifting the partial clinical hold placed on the program in late 2009.Dr. Fuerst continued, "We have proposed moving forward with a Phase I intravenous dose-escalation study of Valortim®, which is expected to commence in the next several weeks. We look forward to resuming clinical testing of this important anthrax anti-toxin candidate, which we hope one day will offer improved protection for our nation's citizens, both at home and on the battlefield."
PharmAthene, Inc., a biodefense company, together with its subsidiaries, engages in the development and commercialization of medical countermeasures against biological and chemical weapons in the United States. Its product candidates include SparVax, a recombinant protective antigen (rPA) anthrax vaccine to protect against inhalation anthrax that has completed one Phase I and two Phase II clinical trials; and Valortim, a human monoclonal antibody to protect against and treat human inhalational anthrax, which has completed Phase I clinical trial.
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