Posted on 12 June 2012.
Outstanding Shares: 136.1M
New World Gold Corp. (NWGC) is a gold exploration mining company, incorporated in 1998 and based in Boca Raton, Florida that engages in the development and production of gold assets through its U.S and international reserves.
Located in the state of Montana, NWGC’s current U.S project is not only comprised of two gold mining zones, with 105,000 of proven gold reserves, but also contains two sapphire producing zones. NWGC’s sapphire zones are of great asset as Montana is highly known to be the largest producer of gem-quality sapphires and is the source for the well-known jeweler, Tiffany & Co, because the Montana Sapphire is globally known to resemble the eagerly desired Kashmir India Blue velvety sapphire that sells for $100,000 per carat.
Outside of the U.S, NWGC currently has five producing mines and three operating mills in the South American countries of Ecuador and Peru with proven combined reserves of 695,000 ounces gold. Yet, NWGC’s research has estimated these properties to have probable reserves exceeding 1.2 million ounces of gold. Subsequently, NWGC is currently operating a program to convert these probable reserves of the South American properties into proven reserves.
NWGC’s current properties have a total production capability of 380 tons of ore per day however, NWGC is expected to acquire and additional mine and mill in Ecuador within this current year. As a result, NWGC saw record revenue and profits for 2011 with a 370% increase and is projecting 2012 to have profits exceeding $1 million!
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