New World Gold Corporation Produces Record Profits
Nov 05, 2014
OTC Disclosure News Service
New World Gold Corporation (OTC Pink: NWGC), a gold mining and milling
company with existing operations in Ecuador and Peru, is pleased to
announce its third quarter financial results for the period ending
September 30, 2014. The Company had revenues of $7,671,561 for the 9
month period ending September 30, 2014 versus $5,907,327 last year. This
is an increase in revenue of $1,764,234 or 30%.
The Company had a net income of $2,438,000 for the 9 months ending
September 30, 2014 versus $1,592,262 last year. This is an increase in
profits of $845,738 or 53.1%. The third quarter net profit for September
30, 2014 of $845,738 is $237,242 greater than the profit for the entire
previous year ending December 31, 2013.
The Balance Sheet shows total assets of the Company for the period
ending September 30, 2014 is $13,849,922 versus $9,654,759 last year.
The average production capability of the Company’s mills is currently
440 tons per day. The Company continues to expand its milling operations
through processing its own ore and ore from independent miners without
milling operations on a contract basis.
New World Gold Corporation trades in the United States on the OTC Pink
under the symbol “NWGC.”
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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