Orofino has already secured our concessions and permits, making our holdings more valuable and, when compared to the region's many new mining companies, placing us in a much better position.
Medellin, Colombia (PRWEB) April 11, 2011
Recent growth of global interest in Colombia mineral potential as a result, in part, of the purchase of Ventana Gold Corp by Brazilian Billionaire Eike Batista for approximately $1.5 billion, has lead to the issuing of a six month moratorium on new applications for licensing of mineral rights by the Colombian government. However, because of early entry into the region by Orofino Gold Corp. (PINK OTC: ORFG.PK), Orofino's already obtained licenses and in-process licenses should not be affected.
"The moratorium was enacted in order for the Colombian government to get reorganized and gain more control over the new Colombian gold rush," explains Orofino President and CEO, Mr. Ary F. Pernett Marquez. "When the moratorium ends in August, conditions for new applications will be much more strict, and, most likely, will required a bidding process in which companies must compete with one another. However, Orofino has already secured our concessions and permits, making our holdings more valuable and, when compared to the region's many new mining companies, placing us in a much better position."
Orofino Gold is a Colombian 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's corporate objective is to continue to build shareholder value through the exploration and development of The Senderos de Oro Gold Camp and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
Forward-Looking Statements: The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company's business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.