Tornado Gold International Corp. (OTCBB: TOGI), Pulling its Weight in Gold, Announces $4M Financing, New Member to Board of Directors
Source: http://Blog.QualityStocks.net/?p=11550Posted on Monday, August 4th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Tornado Gold International Corp. operates in Nevada as an exploration company focused on the exploitation of gold deposits in excess of 7 million ounces. The company is backed by a team of explorers with decades of experience in targeting gold-laden properties and discovering massive gold deposits.
The company today announced it has closed more than $4 million in equity financing to date, at an average cost of $0.20. According to the press release, Tornado gold will use the proceeds to further its land acquisition and exploration efforts.
Tornado Gold also announced the appointment of Larry Kornze, P. Eng., to the company’s board of directors. Kornze’s previous experience in gold exploration is expected to boost the company’s gold discovery and excavation in Nevada.
Kornze recently retired from Barrick Gold Corp. as the general manager of Exploration for Mexico and Central America, and International Evaluations; he also served as U.S. exploration manager for Barrick Gold and took part in the Goldstrike Mine exploration. The Goldstrike Mine is Barrick Gold’s flagship mine, which has produced more than 30 million ounces of gold since 1987.
Kornze also held various positions with Newmont and Getty Mining Co.; has worked as an independent geological consultant; and sits on the board of several public exploration companies.
Despite retirement, Kornze said he is eager to pursue opportunities with Tornado Gold.
“I look forward with excitement to the exploration of Tornado Gold’s properties in Nevada,” said Kornze. “This state, with such a rich gold endowment, is a great place to explore with many possibilities to make large-scale gold discoveries.”
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