Posted On: 01/16/2014 1:17:01 PM
Post# of 44952
NWGC Amazing Profits >> The increase in revenue and profits is a result of increased production in the mines and mills, reduction in operating costs and increased efficiency in its milling operation. Revenue for the year ended December 31, 2013 was $8,241,330 versus $8,180,127 in 2012. Net Profit for 2013 was $2,200,758 versus $1,838,664 in 2012, an increase of 19.7%.
During 2013, the Company reduced the cost of operations by $282,499 or 9.2%. The Company increased the value of plant and equipment from $3,844,519 to $4,614,494, an increase of 20%. Construction and mining capital costs were $2,284,758 in 2013 versus $644,164 in 2012. This increase in spending increased efficiency of the Companies mills, reduced costs and increased profits though increased yield. At year end December 31, 2013 the value of inventory at cost was $1,144,297.
During 2013, the Company reduced the cost of operations by $282,499 or 9.2%. The Company increased the value of plant and equipment from $3,844,519 to $4,614,494, an increase of 20%. Construction and mining capital costs were $2,284,758 in 2013 versus $644,164 in 2012. This increase in spending increased efficiency of the Companies mills, reduced costs and increased profits though increased yield. At year end December 31, 2013 the value of inventory at cost was $1,144,297.
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