New World Gold Corporation Signs Contract to Supply Gold to Chinese Company
February 04 2015 - 12:40PM
Business Wire
New World Gold Corporation, (OTC Pink:NWGC), a gold mining and
milling company with existing operations in Ecuador and Peru is
pleased to announce that on February 4, 2015 it signed an agreement
with Aguila Dorada De Sur America Aguidomerica SA a Chinese based
company to supply a minimum of 120 kilos of gold (4225 ozs) per
month to a maximum of 200 kilos per month. The minimum monthly
value of the contract is estimated to be $4,761,000. Assuming an
average price of gold for a year to be $1240.00 per oz, this
contract will generate approximately $57,000,000 in revenue in the
first year.
The source of gold for this contract and other commitments will
be from the Company's own reserves and the gold generated by
contract milling. Currently the company has the ability to process
600 tons of ore per day. The Company expects that it will be able
to process in excess of 900 tons of ore per day by the end of May,
2015.
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
New World Gold CorporationRobert Talbot, 561-210-8496
New World Gold (CE) (USOTC:NWGC)
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