New World Gold Posts Continued Positive Financial Results
(firmenpresse) - BOCA RATON, FL -- (Marketwire) -- 08/15/11 -- New World Gold Corp (PINKSHEETS: NWGC) is pleased to announce that for the six months ending June 30, 2011 it had revenues of $1,824,364 versus "$0" revenues for the six months ending June 30, 2010. The Company had a net profit of $265,303 for the period ending June 30, 2011 versus a loss of $169,919 last year. The significant positive changes in the financial condition of the Company are a result of the production being generated by the Company.
The Company expects to continue its financial growth in 2011 and to expand its facilities in 2011/2012 though increased gold production and efficiency of operations. With the current price of gold exceeding $1700 an oz, operating expenses remaining stable and gold production increasing, the Company expects the future financial results of the Company to show excellent growth.
NWGC has its own gold milling facilities. The mills are currently being expanded to allow for the increased production. With the expansion of the mills, the Company can process its own reserves and generate cash flow while at the same time purchasing ore from other surrounding mines and generating a secondary cash flow from other sources.
New World Gold Corporation will continue to look for opportunities that will allow the Company to expand and increase its reserves. The Company trades in the United States on the NQB Pink Sheets under the symbol "NWGC." For further information please call 561 210 8496 or .
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions and factors described in independent reports, company reports and other filings with regulatory bodies.
New World Gold Corporation
561 210 8496
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Datum: 15.08.2011 - 19:00 Uhr
Sprache: Deutsch
News-ID 46636
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BOCA RATON, FL
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Mining & Metals
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