Andes Gold Corporation Continues to Grow
17 Novembre 2011 - 9:20PM
Marketwired
Andes Gold Corporation (PINKSHEETS: AGCZ) is pleased to announce
its financial results for the nine month period ending September
30, 2011. The Company had gross income of $3,303,408 for the nine
months ending September 30, 2011 versus gross income of $2,926,800
for the year ending December 31, 2010. The Company had a net profit
of $364,882 for the 9 months ending September 30, 2011 versus a net
profit of $257,289 for the year ending December 31, 2010. The
profit for the nine months ending September 30, 2011 is already
41.8% higher than the profits of the December 31, 2010 year end
results. The company anticipates having a profitable fourth quarter
with increased production.
Andes has been completing development work by opening new shafts
on its concession to increase its proven reserves and to make sure
that it has additional ore for processing in its mill. It has
increased the capacity of its mill to 50 tons per day and in the
last quarter of 2011 expects to further increase the capacity of
the mill to 75 tons per day. With the increase in the gold
reserves, this additional capacity will be put to immediate use.
The fact that Andes has its own mill means that it is not dependent
on other producers to process its ore. It is always able to
generate a cash flow because it does not have to wait for other
mills to process its ore.
Andes Gold Corporation trades in the United States on the NQB
Pink Sheets market under the symbol "AGCZ." For further
information, please contact the Company at (561) 210 8496 or at
http://www.andesgoldmine.com/.
NOTE: This release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section21E of the Securities Exchange Act of 1934.
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Act of
1995. Such statements involve known and unknown risks,
uncertainties and other factors that may cause results to differ
materially. Such risks, uncertainties and other factors include but
are not limited to new economic conditions and factors described in
independent reports, company reports and other filings with
regulatory bodies.
Andes Gold Corporation (561) 210 8496
http://www.andesgoldmine.com/
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