New World Gold Corp. (NWGC: OTC Pink Current) | New World
New World Gold Corp. (NWGC: OTC Pink Current) | New World Gold Corporation to Open Additional Mill in Ecuador New World Gold Corporation to Open Additional Mill in Ecuador New World Gold Corporation to Open Additional Mill in Ecuador
BOCA RATON, FL--(Marketwired - Jun 5, 2014) - New World Gold Corporation ( PINKSHEETS : NWGC ), a gold mining company with existing mining and milling operations in Ecuador and Peru, wishes to announce it has begun construction on a new 60 ton per day mill in Ecuador. It is projected that this mill will be fully operational August 15, 2014. Based on new additional contracts, this mill is projected to generate in excess of $2.0 million per year net. This represents a substantial increase in cash flow. The company now has the capability to process over 500 tons of ore per day in Ecuador and Peru.
The Company has started to make its mills environmentally sensitive by upgrading its mills, adding flotation cells and eliminating the use of chemicals. It uses portable concentrators that allow the company to process ore and tailings in remote places. It does not use mercury or cyanide and has lower power requirements and high capacity. With its mills, the company is able to offer miners with no milling capability the option to get their ore processed. The company gets paid for the milling and gets a percentage of the gold and silver produced. At the same time the Company processes its own reserves.
The Company intends on pursuing both milling and mining opportunities in both Ecuador and Peru. The fact that the Company has the capability of milling its own reserves and the ability to do contract milling gives us a huge advantage over the majority of small gold mining corporations. The Company had record revenue and profits for the year ended December 31, 2014. In the first quarter ended March 31, 2014 the revenues and profits continued to grow. The company expects revenues and profits to grow in 2014.
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.otcmarkets.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 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 Gold'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 law.
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