$NWGC-Revenues=$10,612,808;Profit=$2,886,696;Assets=$14,335,808
New World Gold Continues to Grow
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 year end financial results for the period ending December 31, 2014. The Company had revenues of $10,612,808 versus $8,241,330 last year. This is an increase of $2,371,478 or 28.8%.
The Company had a profit of $2,886,696 for the year ended December 31, 2014 versus a profit of $2,200,758 last year. The increase in profit for the year ended December 31, 2014 is $685,938 or 31.2%.
The balance sheet shows significant growth with total assets of the Company increasing to $14,335,808 for the year ended December 31, 2014 versus $10,335,808 last year. The Company will continue to grow through acquisition of gold reserves and production facilities. Current production capability is 750 tons of ore per day. Production capability is expected to increase to 1000 tons per day by June 2014. The milling operation is expected to increase through contract milling with independent miners.
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.
AI
