Andes Gold Corporation Obtains Record Profits for the Year Ending December 2012
31 1월 2013 - 9:00PM
Marketwired
Andes Gold Corporation (PINKSHEETS: AGCZ), a gold and silver mining
company with existing operations in Ecuador and Peru, today
released its financial results for the year ended December 31,
2012. The financial report was filed and is available on the Pink
Sheets.
The financial statements for the year ending December 31, 2012
show revenue of $6,732,311 versus $4,447,521 for the same period
last year. This represents an increase of $2,284,790 or 51.3%. The
net profit for the year ending December 31, 2012 was $1,400,180
versus $521,294 last year. This is an increase of $878,886 or
168.5% over last year. The Company had an inventory at December 31,
2012 of $1,092,397 versus $466,769 last year. The Company expects
to increase revenues and profits in the new year as it increases
its daily production and milling capacity.
On the balance sheet, the Company reports assets of $4,821,148
and liabilities including amounts due to related parties of
$793,178, yielding a 6.0 to 1 asset to debt rate.
The Company expects to increase its proven reserves as a result
of development work that is being completed on its mining
concessions. This work consists of additional mining shafts,
sampling and detailed analytical work and extensions of existing
seams. The company has also discovered significant amounts of
silver and copper and is currently evaluating these reserves. The
Company has modified its mills to be able to process the silver and
copper.
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.otcmarket.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 Gold's ability to meet current or 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 revision to any
forward-looking statement, to reflect events or circumstances
afterward or to disclose unanticipated occurrences, except as
required under applicable laws.
Andes Gold Corporation
Andes Gold Corporation (561) 210 8496 www.andesgoldmine.com
Andes Gold (CE) (USOTC:AGCZ)
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Andes Gold (CE) (USOTC:AGCZ)
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