In production, revenues, and reporting cash in the bank.
The Company is showing excellent growth and expects this to continue this growth throughout 2013 and well into 2014. Based on its current mining and milling capacity, the Company is projecting revenues to exceed $11,500,000 for 2013 with projected profits of $2,400,000.
New World Gold Corporation Shows Profits Despite the Drop in the Price of Gold Date : 07/30/2013 @ 7:00AM New World Gold Corporation (PINKSHEETS: NWGC), a gold mining and milling company with operations in Ecuador and Peru, today released its financial results for the six (6) months ended June 30, 2013.
The financial statements for the six (6) months ending June 30, 2013 show gross revenue of $3,641,306 versus $3,349,925, an increase of $291,381 for the same period last year. The net profit for the six months ending June 30, 2013 was $832,173 versus $600,646 last year. This represents an increase of 38.5% over the same period last year. This increase in profit occurred despite the fact that the average price of gold was down by $199.00 per oz compared to the same period last year.
The balance sheet shows an excellent asset to liability ratio of 2.2 to 1. The value of the plant, machinery and equipment increased in value by $923,553 over last year. The construction and mining improvements increased by $649,531.
The Company continues to increase production as it upgrades its mills and increases milling capacity. The Company has increased gross revenue and net profits despite the fact that the average price of an oz of gold has decreased by $199.00 an oz since the same period last year.
The Company processes its own proven reserves as well as processes ore from other miners that do not have milling operations. The Company is showing excellent growth and expects this to continue this growth throughout 2013 and well into 2014. Based on its current mining and milling capacity, the Company is projecting revenues to exceed $11,500,000 for 2013 with projected profits of $2,400,000.
$VTMB quietly gaining attention
Vitamin Blue to Create a New Subsidiary Called "Vitamin Green" That Exclusively Deals With Hemp and Cannabis Products
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.