$NWGC New World Gold Profits Not Affected by the D
Post# of 94264
Posted On: 01/20/2014 1:53:00 PM
$NWGC New World Gold Profits Not Affected by the Drop in the Price of Gold and Sliver
New World Gold Corporation (PINKSHEETS: NWGC) a gold mining and milling company with existing operations in Ecuador and Peru has substantial milling operations to process ore from independent miners on a contract basis. The Company processes gold, silver and copper in its mills.
Very few junior gold mining companies (estimated at less than 2%) have the capability to process (mill) their own ore. They depend on the major gold mining companies to mill their ore. The junior mining companies that do have milling capabilities are not equipped or don't have the capacity to handle contract milling.
NWGC is diversified, it has its own mining operations for gold, silver and copper as well as mills for processing its own ore. NWGC also has the excess milling capacity to mill ore on a contract basis for independent miners. The contract milling is based on a set price with a built in PROFIT. When the price of gold, silver or copper falls, the Company concentrates on contract milling with its built in profits and reduces its mining operation till the prices of the gold or silver recover. Contract milling means that the company does not have to sell its own gold or silver at reduced prices to maintain cash flow. Contract milling eliminates a substantial part of the risk in the market as a result of volatile commodity prices. By maintaining this balance between milling and mining, the company will continue with excellent financial performance.
The Company currently has the capacity at its mills to process 420 tons of ore per day. With the Companies intention to move from 12 hour shifts to 24 hour shifts as of June 1, 2013, the Companies mills will have the capacity to process 700 tons of ore per day.
New World Gold Corporation trades in the United States on the OTC Pink under the symbol "NWGC." For further information, please contact the Company at (561) 210 8496 or www.newworldgoldcorp.com or investors can find real time quotes and market information for the company on www.otcmarket.com.
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and New World's ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable laws.
New World Gold Corporation
(561) 210 8496
www.newworldgoldcorp.com
New World Gold Corporation (PINKSHEETS: NWGC) a gold mining and milling company with existing operations in Ecuador and Peru has substantial milling operations to process ore from independent miners on a contract basis. The Company processes gold, silver and copper in its mills.
Very few junior gold mining companies (estimated at less than 2%) have the capability to process (mill) their own ore. They depend on the major gold mining companies to mill their ore. The junior mining companies that do have milling capabilities are not equipped or don't have the capacity to handle contract milling.
NWGC is diversified, it has its own mining operations for gold, silver and copper as well as mills for processing its own ore. NWGC also has the excess milling capacity to mill ore on a contract basis for independent miners. The contract milling is based on a set price with a built in PROFIT. When the price of gold, silver or copper falls, the Company concentrates on contract milling with its built in profits and reduces its mining operation till the prices of the gold or silver recover. Contract milling means that the company does not have to sell its own gold or silver at reduced prices to maintain cash flow. Contract milling eliminates a substantial part of the risk in the market as a result of volatile commodity prices. By maintaining this balance between milling and mining, the company will continue with excellent financial performance.
The Company currently has the capacity at its mills to process 420 tons of ore per day. With the Companies intention to move from 12 hour shifts to 24 hour shifts as of June 1, 2013, the Companies mills will have the capacity to process 700 tons of ore per day.
New World Gold Corporation trades in the United States on the OTC Pink under the symbol "NWGC." For further information, please contact the Company at (561) 210 8496 or www.newworldgoldcorp.com or investors can find real time quotes and market information for the company on www.otcmarket.com.
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and New World's ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable laws.
New World Gold Corporation
(561) 210 8496
www.newworldgoldcorp.com
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