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AFYG - Affinity Gold Corp. Announces CEO Appointment
On Thursday February 11, 2010, 8:45 am EST
MAPLE GROVE, Minn., Feb. 11 /PRNewswire-FirstCall/ -- Affinity Gold Corp. (OTC Bulletin Board: AFYG) ("Affinity" or the "Company") is pleased to announce the appointment of mining executive Paul Antoniazzi as Chief Executive Officer of the Company. Mr. Antoniazzi has been a Board member of Affinity Gold since January of 2009.
Mr. Antoniazzi brings with him over 25 years of extensive experience and a successful track record in senior management positions within international mining organizations. As a former senior project manager of North America for Lac Minerals Inc., (now Barrick Gold Corp.) (1983-1994), he was responsible for the engineering, construction, procurement, and commissioning of $473 million of projects at 8 different sites. As Vice president of Golder Paste Technologies (1994-2002) he built plants in Australia, Brazil, Turkey, Canada and USA valuing over $120 million. Since 2002, he has worked as an independent contractor specializing in environmental and mining projects. He currently sits on the board of three Canadian listed mining companies, Opawica Explorations Inc. (TSX: OPW), International Kirkland Minerals Inc., (IKI-TSXV), and RT Minerals Corp. (C.RTM: CNQ).
Mr. Antonio Rotundo, President, CFO and Director of the Company, stated, "The Board and I very much look forward to working with Mr. Antoniazzi in his new capacity and believes he brings significant mining experience to the Company particularly in the areas of project development and operations. Mr. Antoniazzi will work closely with the board and I to develop, evaluate and implement both operational and strategic initiatives of the Company."
Immediately prior to the appointment of Mr. Antoniazzi as CEO, Mr. Antonio Rotundo stepped down as CEO but remains as the President, CFO and a Director of the Board for Affinity Gold.
Mr. Antoniazzi said, "After spending the better part of the last year as an active board member of Affinity Gold and understanding the true potential of our find, it is extremely exciting to be in a position to lead our Company to the next level."
http://finance.yahoo.com/news/Affinity-Gold-Corp-Announces-prnews-2737434871.html?x=0&.v=1
AFYG - Affinity Gold Corp. Announces CEO Appointment
On Thursday February 11, 2010, 8:45 am EST
MAPLE GROVE, Minn., Feb. 11 /PRNewswire-FirstCall/ -- Affinity Gold Corp. (OTC Bulletin Board: AFYG) ("Affinity" or the "Company") is pleased to announce the appointment of mining executive Paul Antoniazzi as Chief Executive Officer of the Company. Mr. Antoniazzi has been a Board member of Affinity Gold since January of 2009.
Mr. Antoniazzi brings with him over 25 years of extensive experience and a successful track record in senior management positions within international mining organizations. As a former senior project manager of North America for Lac Minerals Inc., (now Barrick Gold Corp.) (1983-1994), he was responsible for the engineering, construction, procurement, and commissioning of $473 million of projects at 8 different sites. As Vice president of Golder Paste Technologies (1994-2002) he built plants in Australia, Brazil, Turkey, Canada and USA valuing over $120 million. Since 2002, he has worked as an independent contractor specializing in environmental and mining projects. He currently sits on the board of three Canadian listed mining companies, Opawica Explorations Inc. (TSX: OPW), International Kirkland Minerals Inc., (IKI-TSXV), and RT Minerals Corp. (C.RTM: CNQ).
Mr. Antonio Rotundo, President, CFO and Director of the Company, stated, "The Board and I very much look forward to working with Mr. Antoniazzi in his new capacity and believes he brings significant mining experience to the Company particularly in the areas of project development and operations. Mr. Antoniazzi will work closely with the board and I to develop, evaluate and implement both operational and strategic initiatives of the Company."
Immediately prior to the appointment of Mr. Antoniazzi as CEO, Mr. Antonio Rotundo stepped down as CEO but remains as the President, CFO and a Director of the Board for Affinity Gold.
Mr. Antoniazzi said, "After spending the better part of the last year as an active board member of Affinity Gold and understanding the true potential of our find, it is extremely exciting to be in a position to lead our Company to the next level."
http://finance.yahoo.com/news/Affinity-Gold-Corp-Announces-prnews-2737434871.html?x=0&.v=1
Peru's Mineral Wealth and Woes LIMA, PERU -- The commodities boom of the last decade fueled growth, but it also poses social and environmental problems. Peru is emblematic of the economic promise and trials facing nations rich in mineral wealth. One of the world's largest producers (PDF) of gold, copper, tin, zinc, and silver, Peru has been the fastest growing country in Latin America over the last decade, and it has cut poverty during that time from 50 percent to about 34 percent. But Peru is also grappling with the fallout from its resource wealth, including governance challenges, controversial oil and gas concessions in the Amazon, mercury pollution from unregulated gold mining, the deforestation threat from illegal logging and new dams, and the impact of the new Trans-Oceanic Highway with Brazil.
Author: Toni Johnson, Staff Writer
February 10, 2010
Economic Ups and Downs
Demand from emerging markets such as China and India have fueled a resource boom in Latin America, and many resource-rich countries are reaping the benefits of increased commodities prices. Peru is one of them. In 2007, the mining sector represented 63 percent of the country's export revenue. Though neighboring Chile is considered exemplary (Reuters) as a well-managed Latin American economy and Brazil has emerged as world-class economic competitor, Peru's decade of economic growth and stability makes it one of the region's best performing countries. Between 2002 and 2008, the Peruvian economy grew between about 5 and 10 percent per year. The country cut the ratio of public debt to less than 30 percent of gross domestic product (GDP) by 2007, down from nearly half at the beginning of the decade. In 2010, GDP is expected to grow as much as 5.5 percent.
Peru is also attempting to make the government more business and foreign-investment friendly and more transparent, while other countries in the region, such as Venezuela and Ecuador, are working to socialize their extraction industries. "We've tried every macroeconomic model, and we've learned from our mistakes," says Francisco Sagasti, a senior associate at FORO, a development think tank based in Lima. "No one is pushing for nationalization here" (CSM).
Peru - Country takes third place in global exploration spending
Published: Wednesday, February 10, 2010 15:59 (GMT-0400)
By Business News Americas staff reporters
Peru has become the number three destination worldwide for investment in mineral exploration, behind Australia and Canada.
Yeah, somewhere there abouts.
If memory serves correctly, single digits when we first viewed, 7-9 range?, possibly 11?, jumped quick after that.
Boardmarks growing, more interest building it seems from other areas looking for more information, don't ya'll think so?
If you truly have that type of loss then it should have been taken, written off, filed in taxes before now. Can do it by transferring your account to another reputable broker that deals in all markets stocks easily with a long phone call and info, etc.
Sorry for your loss if in fact it is real.
Last eight(8) trading days have been looking real good. Expecting more to come here.
* Money flow is strong.
* Accumulation is strong.
* Volume by price shows buying, desire to hold with increased expectations from these levels.
* Psar flipped.
* Nice solid and steady pps increase.
* And the oblique angles on the retrace are projecting continued upward direction it looks like.
News from the company, along with the already published reports, readily available, which most all have seen, reading, dd'ing, and this baby has the potential to start moving/running like a friggen' "raped ape"!
$1.91 close, nniiiiccee.
Crossed posts, snicker.
Sweet, $1.91 printed.
Exactly! Impoverished country desiring economic growth and development within a massive mountainous range, such as the Andes.
Gotta know there is alot more going to come out of there, don't you think?
Chuckle, sure is Especially since the region is vastly under-explored and under-developed until recently.
Believe it is extremely undervalued here.
P/E's, (Profits to Earnings Ratio/Indicator), are subjective to a corporations' ability to manage all aspects of industry and economic variables, etc., properly, as well as, front door to back door operations, so to speak.
"Industry" P/E's are presently assumed in a fairly large range with profitable Gold stocks. Have seen them from a high of the low 200's to as low as the 50-60 range, a fair average could, would probably be in the 80-120 range with the current world economy beginning to make some strong head way, etc.
Not going to assume a future, forward looking PPS prediction here. But am comfortable assuming a very conservation 20-40 p/e range for calculations if that is what you're asking?
Like that "Production Capability" post there 'Trade'.
Keeping in mind that it is at a mininum rate of 2,000 cubic meters per day AND just the initial (starting) operation.
1,000g to 4,000g per day equates to approximately $40,000 to $160,000 per day - $1,200,000 to $4,800,000 per month - $14,400,000 - $57,600,000 per year.
Imagine what those numbers will look like when it gets into full operation and the full scope of the project is being realized.!?
YOWZA
Chuckle, oh yeah, and the numbers are fantastic!
Ditto, way too much upside here for it not to.
Welcome aboard 'mojo', things are definitely looking like they're just getting started here.
LOL, make sure you've got new batteries in your calculator when you do the math.
Take a look at the bottom line of page 37. It'll make your eye's wobble with the current price of gold. chuckle
"APPENDICES
Appendix A ..................................... 26
Phase 1 — 2010 Mining Operation
• Financial Review
• Engineer’s Estimate
• Existing Equipment & Plant
• Additional Equipment & Plant Recommendations"
Looking like a prize, isn't it?
You have a chance to peruse any of AFYG's N.I. 43-101 report yet 'lucky'?
http://www.affinitygold.com/present/Affinity_Technical_Report_Nov_2009_FINAL.pdf
For AFYG those previous indications certainly fall right in line with point four(4) of their stated goals for this year.
Just beginning and already looking forward to huge growth, additional property acquistion. Amazing.
2010 Planned Accomplishments
1.Raise $1 Million in Q1; and, up to another $3 Million in Q2
2.Put flagship project into production by end of Q2
3.Continue with the second phase of the Company's planned exploration program to attempt to quantify the fine gold available on the property as well as increase the Measured, Indicated and Inferred reserves published in first release of the Company's N.I. 43-101 Report
4.Secure additional concession rights to become the single largest contiguous concession rights holder in the area.
Antonio Rotundo, CEO of Affinity Gold, said "Over the last year, we have made great strides in bringing our Company to point where we are well positioned to begin production on our property. It is an exciting time as we are about to begin reaping the fruits of our labor."
AFYG - Real interesting excerpt, within Affinity Gold Corp's published N.I. 43-101 report, gives indication that the government is wanting, and willing, to do whatever it takes to aid the success of Affinity Gold's project in order to grow and maintain the economic health of the region.
23.0 OTHER RELEVANT DATA AND INFORMATION
Revisions to the existing plant can be carried out during the Mobilization and Construction period in 2010. The purpose of re-commissioning the plant is to be able to process gravels for testing and sampling of gravels in the indicated and inferred zones such that more reserves can be proven. The Trans Oceanic Highway is nearing completion and when it is complete there will be many pieces of equipment available in the area as well as manpower. Currently it is said that there are about 90,000 men and women working on the last legs of the Highway, and when complete many experienced machine operators will be close at hand giving confidence in the future mining plan. The Peruvian Government is extending the electric power grid in the area. Some poles are already located near the site. Electricity would replace the diesel fuel used for pumps and generators and site lighting. The supply of hydro electricity will certainly enhance the future of the mining project as diesel fuel is the largest expense in the current mining program.
Squatters have been shut down due to the lack of Mining and Environmental Permits. Local Governments are interested in mining as a source of employment for their people and a tax base for the communities. There have been informal discussions suggesting that Affinity Gold annex some of these properties and fold them into the Permitted land and start other mining operations to stimulate the economy of the area.
Those previous indications certainly fall right in line with point four(4) of their stated goals for this year.
Just beginning and already looking forward to huge growth, additional property acquistion. Amazing.
2010 Planned Accomplishments
1.Raise $1 Million in Q1; and, up to another $3 Million in Q2
2.Put flagship project into production by end of Q2
3.Continue with the second phase of the Company's planned exploration program to attempt to quantify the fine gold available on the property as well as increase the Measured, Indicated and Inferred reserves published in first release of the Company's N.I. 43-101 Report
4.Secure additional concession rights to become the single largest contiguous concession rights holder in the area.
Antonio Rotundo, CEO of Affinity Gold, said "Over the last year, we have made great strides in bringing our Company to point where we are well positioned to begin production on our property. It is an exciting time as we are about to begin reaping the fruits of our labor."
Another real interesting excerpt, within the published report, gives indication that the government is wanting, and willing, to do whatever it takes to aid the success of Affinity Gold's project in order to grow and maintain the economic health of the region.
23.0 OTHER RELEVANT DATA AND INFORMATION
Revisions to the existing plant can be carried out during the Mobilization and Construction period in 2010. The purpose of re-commissioning the plant is to be able to process gravels for testing and sampling of gravels in the indicated and inferred zones such that more reserves can be proven. The Trans Oceanic Highway is nearing completion and when it is complete there will be many pieces of equipment available in the area as well as manpower. Currently it is said that there are about 90,000 men and women working on the last legs of the Highway, and when complete many experienced machine operators will be close at hand giving confidence in the future mining plan. The Peruvian Government is extending the electric power grid in the area. Some poles are already located near the site. Electricity would replace the diesel fuel used for pumps and generators and site lighting. The supply of hydro electricity will certainly enhance the future of the mining project as diesel fuel is the largest expense in the current mining program.
Squatters have been shut down due to the lack of Mining and Environmental Permits. Local Governments are interested in mining as a source of employment for their people and a tax base for the communities. There have been informal discussions suggesting that Affinity Gold annex some of these properties and fold them into the Permitted land and start other mining operations to stimulate the economy of the area.
Don't believe they need to be either, shoot, this puppy has actually just started trading within the last month.
Take a look at the price to volume indicator, very telling. Probably 95% of all buying has been done at this present level as the company is just beginning to reach it's goals or within reach of them.
Looking for AFYG to continue upward from here to a more reasonable value.
Certainly agree, and will be an exciting time when they're up in full production next quarter.
In 2010, we continue to be focused on executing against our plan of putting our flagship project into production by the end of Q2.
Thanks '8-K', AFYG lookin' good and lookin' for more, aren't we?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46386317
Some simple math for AFYG's potential gold values per filed documentation.
Estimate of 1,819,800 oz's x current market value of approximately $1067 per oz = $1,941,726,600
http://www.goldprice.org/gold-price.html
http://www.affinitygold.com/present/Affinity_Technical_Report_Nov_2009_FINAL.pdf
Sure should, gotta like the bottom line of page 37.
"APPENDICES
Appendix A ..................................... 26
Phase 1 — 2010 Mining Operation
• Financial Review
• Engineer’s Estimate
• Existing Equipment & Plant
• Additional Equipment & Plant Recommendations"
AFYG's share structure is decent after having reduced it's authorized.
AUTHORIZED: 260,000,000 shares
OUTSTANDING: 51,231,195 shares as of December 10, 2009.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=wQDicdsZ8qOOjusRQRUn2g%253d%253d&nt7=0
http://www.sec.gov/cgi-bin/browse-edgar?company=Affinity+Gold&match=&CIK=&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany
AFYG's share structure is decent after having reduced it's authorized.
AUTHORIZED: 260,000,000 shares
OUTSTANDING: 51,231,195 shares as of December 10, 2009.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=wQDicdsZ8qOOjusRQRUn2g%253d%253d&nt7=0
http://www.sec.gov/cgi-bin/browse-edgar?company=Affinity+Gold&match=&CIK=&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany
AFYG - Affinity Gold Corp. Corporate Update
MAPLE GROVE, Minn., Feb. 2 /PRNewswire-FirstCall/ -- Affinity Gold Corp. (OTC Bulletin Board: AFYG) ("Affinity" or the "Company") is pleased to provide a corporate update to its shareholders recapping 2009 accomplishments and announcing its 2010 planned accomplishments.
In 2009, the Company made significant and noteworthy progress executing against its business plan successfully achieving major milestones in spite of global economic uncertainty and record rainfall and flooding in the region of southeastern Peru. The year presented great challenges that tested, and ultimately demonstrated, the strength and resolve of our management team.
2009 Accomplishments
1.Became an SEC fully-reporting and compliant public company in Q1 '09
2.Performed PCAOB-Compliant audit for 2 years of financials of AMR Project Peru, S.A.C. ("AMR"), conducted due diligence of AMR's mining concession rights and closed the Share Exchange Agreement representing acquisition of AMR and the mining concession rights
3.Negotiated the cancellation of 26.5 million control block shares
4.Raised in excess of $900K
5.Reduced our Authorized shares to 260,000,000 from 2.7Billion
6.Published the first release of our N.I. 43-101 Report
SUMMARY OF CURRENT RESERVES AND RESOURCES (N.I. 43-101 Table 22-1)
Category M3 Tonnes Grade Oz/T Ounces Au
-------- --- ------ ---------- ---------
Measured Reserve 360,000 720,000 0.0506 36,432
---------------- ------- ------- ------ ------
Indicated Resource 3,500,000 7,000,000 0.0337 235,900
------------------ --------- --------- ------ -------
Inferred Resource 27,000,000 54,000,000 0.0337 1,819,800
----------------- ---------- ---------- ------ ---------
In 2010, we continue to be focused on executing against our plan of putting our flagship project into production by the end of Q2. Management believes the economic outlook will continue to improve and gold prices will continue to appreciate throughout the year which will only strengthening its ability to successfully raise capital.
2010 Planned Accomplishments
1.Raise $1 Million in Q1; and, up to another $3 Million in Q2
2.Put flagship project into production by end of Q2
3.Continue with the second phase of the Company's planned exploration program to attempt to quantify the fine gold available on the property as well as increase the Measured, Indicated and Inferred reserves published in first release of the Company's N.I. 43-101 Report
4.Secure additional concession rights to become the single largest contiguous concession rights holder in the area.
Antonio Rotundo, CEO of Affinity Gold, said "Over the last year, we have made great strides in bringing our Company to point where we are well positioned to begin production on our property. It is an exciting time as we are about to begin reaping the fruits of our labor."
http://finance.yahoo.com/news/Affinity-Gold-Corp-Corporate-prnews-1190152606.html?x=0&.v=1