Orofino Gold Corp. (ORFG)
While natural gold has been found in the remains of inhabited caves dating back as far as the Palaeolithic Era around 40,000 B.C., there is some agreement that gold was first used as adornment in the temples of ancient Egypt. Interestingly, gold was not used as money at that time. Instead, the ancient Egyptians used barley as their currency. Gold is found as a free metal in nature. It can be found as nuggets or bound up with rock and too small to see with the naked eye. It is sometimes found in association with other metals.
Gold is similar to property as it is a physical asset. However, there are two key differences between the two - gold is very portable and liquid. Gold is bought and sold very easy in any bullion dealer worldwide. Property on the other hand takes time and effort to buy and sell. Gold is a very compact way to store value - the value of a three bedroom house can easily fit into a shoe box.
Orofino Gold Corp. (ORFG) is a Colombia based gold producer founded as a private company in 2009 by former executives with over 50 cumulative years in mining exploration, finance, and development expertise. Orofino Gold Corp. (ORFG) objective is to continue to build shareholder value through the exploration and development of Senderos de Oro and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
Orofino Gold Corp. (ORFG) is pleased to announce the appointment of Dr. Hans Bocker as the new Chairman of the Board.
The Company held a Board meeting dated April 5, 2011, to initiate certain corporate changes to the existing members of the Board of Directors. The Board of Directors unanimously appointed Dr. Hans Bocker as the new Chairman of the Board, and the former Chairman, Mr. Ning Shi Long, resigned as Chairman due to personal obligations, but will remain as a member of the Board of Directors.
Dr. Hans J. Bocker is an internationally recognized academic advisor. His expertise encompasses fundamental organizational and operational logistics including production and operations management, purchasing and procurement, safety, loss control, quality management, international management, cross-cultural management, transportation and traffic logistics, and leadership training for executives.
In addition to his logistical expertise, Dr. Bocker is also an internationally recognized gold expert. He recently published a book on gold titled Freedom Through Gold which has sold out in several languages. He is also a published journalist with over 2000 publications.
On behalf of the Board of Directors, the Company wishes to extend their gratitude to Mr. Ning Shi Long for his commitment and efforts as past Chairman of the Board.
For more information please visit official website of ORFG: http://www.orofinogoldcorp.com/
Teck Resources Limited (NYSE:TCK) announced that Teck and Local 7884 of the United Steelworkers have reached a tentative collective agreement covering the Fording River operation. The tentative agreement is for a 5 year term, expiring April 30, 2016. The union negotiating committee is unanimously recommending ratification of the tentative collective agreement to its membership. No other terms of the agreement will be disclosed until the ratification vote is complete.
Teck Resources Limited operates as a diversified mining, mineral processing, and metallurgical company. The company engages in a range of activities related to mining, including exploration, development, smelting, refining, safety, environmental protection, product stewardship, recycling, and research.
Kimco Realty Corporation (NYSE:KIM) announced that it has sold its remaining interest in the Valad convertible notes to an affiliate of Blackstone Real Estate Advisors VI L.P. for A$165 million plus any unpaid accrued interest. Proceeds from this transaction will be used to partially repay the balance on the company's U.S. revolving credit facility. Kimco President and CEO Dave Henry stated, "The sale of the Valad notes represents a major step forward in the reduction of our non-retail investment portfolio which was one of our main goals for 2011."
Kimco Realty Corporation is a publicly owned real estate investment trust. The firm engages in acquisitions, development, and management of neighborhood and community shopping centers.
Flagstar Bancorp Inc. (NYSE:FBC), the holding company for Flagstar Bank FSB, reported its first quarter results for 2011. Key Items for First Quarter 2011: Sold $80.3 million of non-performing residential first mortgage loans in the available-for-sale category at a sale price which approximated carrying value. Provision expense decreased by 87.4 percent from prior quarter, to $28.3 million (a 42.1 percent decrease, excluding $176.5 million related to the fourth quarter 2010 non-performing loan sale). Asset resolution expense related to non-performing residential and commercial loans decreased by 15.7 percent from the prior quarter, to $25.3 million. Core deposits increased by 10.0 percent from prior quarter, to $2.8 billion.Net servicing revenue increased 39.1 percent from the prior quarter, to $39.3 million.
Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, FSB that offers consumer and commercial financial products and services to individuals, and small and middle market businesses in Michigan, Indiana, and Georgia.
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