__ Total of 165,000 tonnes of gold have been mined in human history, as of 2009. This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8,500 m, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.
It is known to all that the primary use of gold is associated to jewelry. About 78% of the gold consumed each year goes in the manufacture of different jewelry products.
**** Orofino Gold Corp. (ORFG) Opens New Head Office In Medellin, Colombia ****
ORFG 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. ORFG`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.
ORFG reported the relocation of its head office to Medellin, Colombia, as of March 1, 2011 Directing Orofino`s new office and managing all the company`s primary affairs from the Medellin headquarters will be ORFG`s President and CEO, Mr. Ary F. Pernett Marquez. This new, Colombia-based location is intended to better enable Orofino to engage Colombian nationals in its Sustainable Development Plan.
The companys office in Dalian China will be downsized but will continue to act as an advisory office for finance and marketing in China.
The rich history of gold in Colombia dates back to pre-Columbian times. Explorers from Europe traveled across the ocean in search of legendary South American riches, much of which were believed to be in the land that comprises what is modern-day Colombia. However, until recently, geographic and political conditions have prevented people and companies from fully leveraging the extent of the regions rich mineralogical resources.
Colombia is recognized as one of the most prospective, yet under-explored countries in the world, and provides an attractive blend of gold, copper and silver deposit discovery potential within a pro-mining business atmosphere.
ORFG`s strategy to become a recognized player in the Colombia mining sector began with the acquisition of the La Azul/La Estrella property in the Senderos de Oro region of Colombia, a Northern extension of South Americas highly mineralized Andes Mountain Range. Development of this property has included acquisition of concessions for the surrounding lands, including adding the San Carlos and Culo Alzado properties, detailed analysis of historic geological and cultural records of the area, and regular mineral analysis of newly obtained resource samples. In addition, ORFG has acquired a database comprised of exploration and mining results from previous operators who left as a result of pre-21st century regional civil and economic instability.
Retailer Saks Incorporated (NYSE:SKS) today announced that owned sales totaled $196.2 million for the four weeks ended February 26, 2011 compared to $171.7 million for the four weeks ended February 27, 2010, a 14.2% increase. Comparable store sales increased 15.3% for the month.
For February, the strongest categories at Saks Fifth Avenue stores included womens apparel, mens apparel, shoes, handbags, fashion jewelry, cosmetics, and fragrances. Saks Direct performed well during the month.
Saks Incorporated, together with its subsidiaries, operates fashion retail stores in the United States. The companys stores offer a range of luxury fashion apparel, shoes, accessories, jewelry, cosmetics, and gifts.
More about SKS at www.saksincorporated.com ************************************************************
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