New World Gold Corporation (NWGC)

[Quinquagintilliard]

wall street journal: New World Gold Corporation (PINKSHEETS: NWGC), a gold mining company with existing operations in Ecuador and Peru, today released its financial results for the year ended December 31, 2013. The Company had record financial results despite the fact that the average price of an ounce of gold was over $250 per ounce lower in 2013 versus 2012 (based on the average price of gold according to the London Exchange daily price tables).

The increase in revenue and profits is a result of increased production in the mines and mills, reduction in operating costs and increased efficiency in its milling operation. Revenue for the year ended December 31, 2013 was $8,241,330 versus $8,180,127 in 2012. Net Profit for 2013 was $2,200,758 versus $1,838,664 in 2012, an increase of 19.7%.

During 2013, the Company reduced the cost of operations by $282,499 or 9.2%. The Company increased the value of plant and equipment from $3,844,519 to $4,614,494, an increase of 20%. Construction and mining capital costs were $2,284,758 in 2013 versus $644,164 in 2012. This increase in spending increased efficiency of the Companies mills, reduced costs and increased profits though increased yield. At year end December 31, 2013 the value of inventory at cost was $1,144,297.

The Company projects that revenue and profits will increase in 2014. The Company expects to increase contract milling in 2014 as well as increasing mining and milling of its own reserves. The Company will actively move ahead with the acquisition of addition reserves and increasing the milling capacity of its mills