Recent business news for ORFG, DO, and MVG

Recent business news for ORFG, DO, and MVG

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Orofino Gold Corp. (ORFG.PK) is a precious metals acquisition, exploration, and development company that has signed an option agreement to acquire several properties in Colombia , currently a hot spot of gold production.

At the Orofino Gold Corp. Senderos de Oro project, government recorded Gold production from the area has been significant with production records between 1987 to present of over 1,300,000 ounces. All production has been Artisanal (small miners) in nature and production continues to this day. With the very high grade gold vein systems in the central area of the Senderos de Oro project and with several small scale grinding and amalgamation mills in-place Orofino is planning to design a central processing and recovery facility that is modular in design and will be capable of processing enough high grade material to produce up to 120,000 ounces of gold annually while the Company continues to explore further the Primary Porphyry Target which is the bulk minable gold/copper porphyry systems.

It is reasonably believed that the five plus high grade producing gold targets will produce 1+ million ounces each of silver and copper. Also ownership of gold and silver along with quality precious metals mining shares is becoming one of the hottest investments on the planet.

Diamond Offshore Drilling, Inc. (NYSE:DO) recently reported that the Company has declared a special quarterly cash dividend of .75 per share of common stock and a regular quarterly cash dividend of .125 per share of common stock. Both dividends are payable on September 1, 2010 to shareholders on record as of August 2, 2010. The Board reiterated its stated policy of considering paying special cash dividends, in amounts to be determined, on a quarterly basis. Any determination to declare a special dividend, as well as the amount of any special dividend that may be declared, will be based on the Company’s financial position, earnings, earnings outlook, capital spending plans, and other relevant factors at that time.

DO provides contract drilling services to the energy industry around the globe and is a leader in deepwater drilling. Configured to achieve the optimum balance of flexibility and performance, Diamond Offshore’s fleet has built its reputation on more than four decades of real-world global drilling experience. Its crews have honed their skills in the harshest environments. From the North Sea, the Gulf of Alaska, the Straits of Magellan, the south China Sea and Australia’s Bass Strait, Diamond Offshore’s industry veterans know how to meet the most formidable challenges.

MAG Silver Corp. (AMEX:MVG) has reported a first mineral resource estimate for the Pozo Seco molybdenum (moly)-gold discovery on its 100% owned Cinco de Mayo property in northern Chihuahua State, Mexico. Results confirm that Pozo Seco is a significant high grade molybdenum and gold deposit. MAG is also providing the diamond drill results for 13 holes (Holes CM10-241 to CM10-266) drilled on the Pozo Seco property all of which are included in the resource estimate. The deposit remains open to the northeast and southwest in several places adjoining these latest holes. Metallurgical test work is underway. Pozo Seco is an oxide molybdenum / gold deposit and the metallurgical test work is looking at leach and floatation methods for recoveries. Results are expected by month end.

MVG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. MAG is conducting ongoing exploration of its portfolio of 100% owned properties in Mexico including a silver, lead and zinc discovery and a moly-gold discovery at its 100% owned Cinco de Mayo property in Chihuahua State. MAG and Fresnillo plc are jointly delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State. The total contained metals at the Juanicipio property on a 100% project basis in the Indicated Resource are 83 million ounces of silver, 210,000 ounces of gold and 155 million pounds of lead and 269 million pounds of zinc. The Inferred Resources contain an additional 106 million ounces of silver, 356,000 ounces of gold and 301 million pounds of lead and 498 million pounds of zinc.

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