OROFINO GOLD CORP (ORFG.PK)
ORFG is a new high growth gold company whose mandate is to acquire, explore and develop to compliant proven reserves major gold targets in historically rich gold bearing jurisdictions of Mexico and Colombia two of the most significant gold producing countries in the world. To this end ORFG has signed an option agreement to acquire several properties in Colombia.
Mr. John T. Martin was born and raised in Canada. He had the benefit of being educated in his formative years in both Ontario and Quebec. He graduated from the University of Toronto with a degree of Arts in 1972, and subsequently graduated with a LLB (Bachelor of Laws) from the University of Ottawa in 1975.
His first employment was with the Bureau of Intellectual Property in the Federal Government of Canada in the mid 70’s. From there Mr. Martin moved to British Columbia, where he enjoyed a busy practice as a lawyer in various firms including his own, until 2003. Mr. Martin’s preferred areas of Law were Securities, Immigration, Real Estate and Debt Realization.
During his legal practice, Mr. Martin had the chance of meeting many clients from across the Pacific whether they were Chinese or Asians and hence acquired a good network in both China and Asia. Mr. Martin was a regular visitor to South East Asian countries, Hong Kong, Korea, Taiwan and China, since 1985.
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SanDisk Corporation (NASDAQ:SNDK)
SNDK, the global leader in flash memory cards, announced today that it has priced $1.0 billion principal amount of Convertible Senior Notes due in 2017. In addition, the Company has granted the underwriters an option to purchase up to an additional $150 million principal amount of notes from the Company to cover overallotments.
The notes will be senior unsecured obligations and will pay interest semiannually at a rate of 1.5% per annum. The notes will be convertible into shares of the Company’s common stock at an initial conversion rate of 19.0931 shares per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $52.37 per share). The initial conversion price represents a premium of 25% to the $41.90 per share closing price of the Company’s common stock on August 19, 2010. The notes will be convertible beginning on May 15, 2017, or earlier upon the occurrence of certain events. Upon conversion of the notes, holders will receive cash up to the principal amount of each note, and any excess conversion value will be delivered in shares of the Company’s common stock.
In connection with these hedging transactions, the underwriters or their respective affiliates have entered into various derivatives transactions and may engage in other activities that could have the effect of increasing or preventing a decline in the price of the Company's common stock in connection with the pricing of the note offering. These activities may be discontinued at any time. In addition, in connection with any conversion of the notes, the underwriters or their respective affiliates may enter into derivative transactions and engage in other activities that could adversely impact the price of the Company's common stock and of the notes.
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American Superconductor Corporation (NASDAQ:AMSC)
AMSC, a global power technologies company, has reported that it has received an initial order for 17 wind turbine electrical control systems from Inox Wind Limited (IWL), part of India’s Inox Group of Companies. The electrical control systems will be deployed in 2 megawatt (MW) doubly-fed induction wind turbines licensed from AMSC’s wholly-owned AMSC Windtec subsidiary under a contract announced in May 2009. The license provides Inox with the right to manufacture and sell the wind turbines globally. Inox recently erected and commissioned its first 2 MW wind turbine and has already begun volume production.
According to a report issued in June 2010 by industry research firm Emerging Energy Research (EER), India had nearly 11,000 MW of wind power installed at the end of 2009, making it the world’s fifth largest wind power market. EER expects that India will more than double its installed capacity to nearly 24,000 MW by the end of 2015 and will triple its installed base to more than 34,000 MW by the end of 2020. According to the Global Wind Energy Council (GWEC), the global wind power installed base is expected to more than double from 158,505 MW in 2009 to more than 347,000 MW by the end of 2013.
With a presence across India, the $2 billion Inox Group has a diverse line of businesses and employs approximately 5,000 people. IWL was incorporated in 2009 to cater to global markets for wind energy products and associated services. IWL is a fully integrated player in the wind energy market with manufacturing facilities in Ahmedabad (Gujarat) and Una (Himachal Pradesh) India. In addition to its wind turbine manufacturing operations, the Inox group owns and operates several wind farms in India.
AMSC’s wind turbine power electronics and control systems include AMSC's proprietary PowerModule power converters, pitch and yaw converters, SCADA systems and integrated control systems. They enable reliable, high-performance wind turbine operation by controlling power flows, regulating voltage, monitoring system performance, controlling the pitch of wind turbine blades and the yaw of the turbines to maximize efficiency.
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