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Orofino Gold Corp. (ORFG.PK) has several gold properties in Colombia, a current hot spot of gold production in the world markets. Geologically it looks the same and local well informed geologists say its model is bigger, broader widths and longer strike. Ownership of gold and silver - along with quality precious metals mining shares - is becoming one of the hottest investments on the planet.
The early adopters, who wisely purchased their positions before the masses come, will sleep well at night while others fret and worry as they watch the purchasing power of their savings evaporate like water in the desert. Gold offers a safe way to hedge against these falling fiat currencies (backed by faith and nothing else). But for a little more leverage - and a lot more profit potential - invest in a junior gold stock. The opportunity looks like this… Orofino Gold Corp. with 1 million ounces; the share price would be with (80,000,000 shrs out) 1 million ounce at a conservative $1,000 = $1 billion divided by 80 million shares = $12.50/share (Orofino has only 60,000,000 shrs. outstanding now).
2 million ounces (100,000,000 shares) = $2 billion divided by 100,000,000 = $20/share
4 million ounces (110,000,000 shares) = $4 billion divided by 110,000,000 = $36/share
It is reasonably believed that the five plus high grade producing gold targets will produce 1+ million ounces each and with silver and copper credits the formulae above would be conservative.
The Board of Directors of Newmont Mining Corporation (NYSE:NEM) declared yesterday an increase in the Newmont ’s regular quarterly dividend from $0.10 per share of common stock to $0.15 per share of common stock, payable September 29, 2010 to holders of record at the close of business on September 8, 2010. In addition, Newmont Mining Corporation of Canada Limited also declared a regular quarterly dividend of Cdn $0.1554 per share on its exchangeable shares, payable September 29, 2010 to holders of record at the close of business on September 8, 2010. This dividend is designated as an “eligible dividend” for Canadian tax purposes.
Newmont Mining Corporation reported second quarter adjusted net income of $377 million ($0.77 per share) compared to $211 million ($0.43 per share) in the prior year quarter. Net income attributable to Newmont stockholders was $382 million ($0.78 per share) compared to $162 million ($0.33 per share) in the second quarter of 2009. “Today’s announcement of a 50% increase of our regular quarterly dividend reflects the confidence we have in our ability to fully fund our project pipeline and exploration programs, keep the door open to value-creating acquisition opportunities and return capital to shareholders, which we feel positions us uniquely in the gold equity market and versus the ETF,” said Richard O’Brien, President and Chief Executive Officer. “Our portfolio continues to deliver despite operating costs being higher than expected during our ramp-up at Boddington, where we are experiencing lower gold grades than modeled. As a result, we are maintaining our previously announced 2010 outlook for equity gold production of 5.3 to 5.5 million ounces at a slightly narrower range of costs applicable to sales of between $460 and $480 per ounce on a co-product basis.” Newmont anticipates improving operating costs during the remainder of the year, with higher ore grades and lower stripping at Batu Hijau, as well as higher processing plant availability now that regularly scheduled second quarter mill maintenance at a key processing facility in Nevada is complete.
Barrick Gold Corporation (NYSE:ABX) today reported that its Board of Directors has authorized a quarterly dividend of US12 cents per share, which represents a 20% increase from the previous dividend. With Barrick’s strong financial position and its positive outlook on the gold price, Barrick is able to continue to make high return investments in its project pipeline and at the same time increase its dividend. As the gold price has increased in the last five years, Barrick has increased its dividend by about 120%. Barrick expects to move from a semi-annual dividend to a quarterly dividend going forward(2). The quarterly dividend is payable on September 15, 2010 to shareholders of record as of the close of business on August 31, 2010.
Barrick’s vision is to be the world’s best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.
(1) Calculated based on converting previous semi-annual dividend of US$0.20 per share to a quarterly equivalent.
(2) The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on Barrick’s financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment (read more) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) has received 500,000 shares of 144 stock in Orofino Gold Corp. (PINK SHEETS: ORFG) valued at sixty five thousand dollars, and 500,000 shares of free trading shares valued at sixty five thousand dollars from a third party (QU CUI You) for 30 days advertising.
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