BOCA RATON, Fla.--(BUSINESS WIRE)--Andes Gold Corporation (OTC Pink: AGCZ) a gold mining and milling company with existing operations in Ecuador and Peru is pleased to announce its third quarter financial results for the period ending September 30, 2014. The Company had revenues of $6,290,372 for the nine (9) month period ending September 30,2014 versus $4,863,380 last year. This is an increase in revenue of $1,427,097 or 29.3%.
The Company had a net income of $1,554,100 for the nine (9) months ending September 30, 2014 versus $1,196,093 last year. This is an increase in profits of $358,007 or 29.9%.
The profit for the nine (9) months ending September 30,2014 is $153,920 more than the entire profit for the year ended December 31, 2013. The Company has significantly increased the strength of its balance sheet over the last year, Assets have increased from $6,028,668 to $8,865,844. This is an increase of $2,837,176 or 47%.
The Company continues to grow and expand its operations as the opportunities are presented to the Company. Its milling operations are expanding through the processing of its own ore and ore from independent miners without milling operations. The Company will continue to grow as it focuses its efforts in Ecuador. The average production capability of the Company's mills is 400 tons per day.
Andes Gold Corporation trades in the United States on the OTC Pink under the symbol “AGCZ”. For further information, please contact the Company at (561) 210 8496 or www.andesgoldmine.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.