New World Gold Corporation Implements Plans to Maximize the Capabilities of Its Mills
New World Gold Corporation (PINKSHEETS: NWGC), a gold mining and milling company with operations in Ecuador and Peru, wishes to announce it has implemented a financial plan to maximize cash flow from its mills. The plan will increase production in the mills through contract milling combined with producing and processing of its own reserves. The Company has set a production target of 36000 to 40000 oz of gold in the first two years of the plan and in excess of 60,000 oz of gold per year in the subsequent 3 years. The cash flows have been based on the price of gold being an average price of $1350 per oz for the 5 years of the plan and operating costs to average $567 over 5 years.
As part of the Company's ongoing effort to maximize cash flow during this period of lower and more volatile gold prices, management has designed a plan that will maximize utilization of its mills while further reducing operation costs and sustaining new project development costs. This optimized plan allows the company to generate significant cash flow that strengthens our balance sheet and improves our financial flexibility as we move forward in this volatile environment. Previous financial results indicated improved cash flow and increasing net profits ($832,173 as of six(6) months June 30,2013). The company is expecting excellent cash flow and increasing profits in the final six months of the current fiscal year despite the volatile gold prices.
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 operations in Ecuador and Peru, wishes to announce it has implemented a financial plan to maximize cash flow from its mills. The plan will increase production in the mills through contract milling combined with producing and processing of its own reserves. The Company has set a production target of 36000 to 40000 oz of gold in the first two years of the plan and in excess of 60,000 oz of gold per year in the subsequent 3 years. The cash flows have been based on the price of gold being an average price of $1350 per oz for the 5 years of the plan and operating costs to average $567 over 5 years.
As part of the Company's ongoing effort to maximize cash flow during this period of lower and more volatile gold prices, management has designed a plan that will maximize utilization of its mills while further reducing operation costs and sustaining new project development costs. This optimized plan allows the company to generate significant cash flow that strengthens our balance sheet and improves our financial flexibility as we move forward in this volatile environment. Previous financial results indicated improved cash flow and increasing net profits ($832,173 as of six(6) months June 30,2013). The company is expecting excellent cash flow and increasing profits in the final six months of the current fiscal year despite the volatile gold prices.
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
