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Orofino Gold Corp. has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
ORFG is please to announce 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. See full resume on ORFG's website.
Mr. Pernett will be responsible for all affairs of ORFG 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 the company’s Senderos de Oro gold camp in the Sur de Bolivar Colombia.
ORFG and Mr. Pernett will continue to work with Contexto Legal of Medellin and Bogota, ORFG ’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.
The Board of Director’s have accepted resignation of John T. Martin, former Managing Director of the Company. His resignation is effective immediately. ORFG wish him well and success in future endeavors.
Majestic Gold Corp. (TSX-V:MJS) is pleased to announce that Wardrop, A Tetra Tech Company, ("Wardrop") has completed and delivered a positive Preliminary Assessment ("PA" or "Preliminary Assessment") for the Songjiagou Gold Project located in Shandong Province, People's Republic of China.
Highlights are as follows:
-- Net Present Value of US $525 million using a 10% discount rate
-- Internal Rate of Return of 78.6%
-- Payback in 1.4 years
-- Total gold production of 2.324 million ounces (average 105,645 oz/yr)
-- Life-of-Mine strip ratio 1.87 : 1 (waste to ore)
-- Mine-Life of 22 years.
"The Preliminary Assessment provided by Wardrop has exceeded our expectations and will form the basis for our continued development of the Songjiagou project," stated Rod Husband, President and CEO of Majestic Gold Corp.
A summary of the main sections of the Preliminary Assessment are as follows:
In 2006, Wardrop prepared a National Instrument 43-101 (NI 43-101) compliant, resource estimate of the Songjiagou deposit. On the basis of additional data collected during 2006, Wardrop prepared an updated estimate in late 2007.
In April 2010 Wardrop completed an update of the 2007 resource estimate to take into account assay results from surface core drilling and trenching that were carried out during 2007, as well as depletion from surface mining since the time of the last estimate. Depletion attributable to underground mining during the same interval was negligible.
The April 2010 updated resource estimate was made using an un-rotated block model, which is to say the blocks in the model were oriented orthogonally east-west and north south. In October 2010, Majestic requested that the estimate be redone using a block model rotated parallel to the trend of the deposit as well as a lower cutoff (0.3 g/t versus 0.4 g/t gold).
PartnerRe Ltd. (NYSE:PRE) announced it has posted the Company’s redefined financial reporting segment tables on the Company website. The new segment tables, which include an explanatory note listing the lines of business included in each sub-segment, can be found at www.partnerre.com in the Investor Relations section on the Financial Reports page under Supplementary Financial Data. The document includes historical data on both a quarterly and annual basis.
PartnerRe Ltd., through its subsidiaries, provides reinsurance solutions worldwide. The company offers property reinsurance coverage to insurers for property damage or business interruption losses resulting from fires, catastrophes, and other perils covered in industrial and commercial property.
Towers Watson & Co. (NYSE:TW) a global consulting firm, will announce its financial results for the second quarter of fiscal 2011 on Friday, February 4, before the stock market opens. The company will host a conference call to discuss its financial results at 9:00 a.m. Eastern Time on February 4, 2011. A live broadcast of the conference call will be available online at the Investor Relations section of www.towerswatson.com. An online replay will follow shortly after the call and will be available through May 4, 2011. A telephone replay of the call will also be available through February 11, 2011 at 617-801-6888, confirmation number 84604982.
Towers Watson & Co. operates as a global professional services company that helps organizations to improve performance through people, risk, and financial management.
General Motors Corporation (NYSE:GM) announced that Linda Marshall has been appointed president of OnStar, effective February 1, 2011. Marshall succeeds J. Christopher Preuss, who has elected to leave the company to launch a communications consultancy practice. "As we continue to evolve the OnStar brand and bring new features to our customers, we believe Linda's deep experience can take the brand and platform to the next level," said Stephen J. Girsky, vice chairman, corporate strategy and business development. "Over the past year, Chris was instrumental in helping create a clear vision and strategy for aligning OnStar with GM infotainment plans and entering the retail market. We thank Chris for his many contributions to GM and wish him every success."
General Motors Company develops, produces, and markets cars, trucks, and parts worldwide. The company offers its products under the brand names of Buick, Cadillac, Chevrolet, GMC, Daewoo, Holden, Opel, Isuzu, Vauxhall, Jiefang, FAW, and Wuling.
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