BOCA RATON, Fla.--(BUSINESS WIRE)--Andes Gold Corporation ( OTC Pink: AGCZ ), a gold mining and milling company with operations in Ecuador and Peru has acquired an additional mill in the Zaruma area. With upgrades to be completed within 30 days, this mill will have the capacity to produce 40 tons of ore per day with a head grade of 3.5 grms of gold per ton. This will produce 140 grms ( 4.5 ozs) of gold per day generating a cash flow of $140,625 per month. The Company expects that further upgrades on the mill can be completed over 6 months that will increase production of the mill to 150 tons of ore per day.
The Company projects that revenue and profits will continue to grow in 2014. The Company will actively move ahead with the acquisition of additional reserves, milling capacity and contract milling.
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 actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and Andes'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. Andes Gold is not obligated to publicly release revisions to any forward-looking statements, to reflect events or circumstances afterward or to disclose unanticipated occurrences as required under applicable laws.