Although the share price has not bounced with the recent volume surges, the penny stock of New World Gold Corp. (NWGC) is beginning to attract speculators. The Company recently updated their corporate filings on the OTC markets after closing out last week with two of the largest volume trading sessions NWGC stock has had all year. With revenue growth for the nine months ended September 30, 2012 of $1,561,217, 38.6%, compared to the same period last year, its no wonder why the gold mining company with existing operations in Ecuador and Peru is getting hot.
Having made it this far, you are REQUIRED to have NWGC on your watch list immeditely!
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NWGC Stock Chart
Market Cap: 2.14M
Last: 0.017, up 0.0003 (1.80%)
Average Trade Size: 58,571
Issued & Outstanding: 177,500,249
Public Float: 120,553,115
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Early Monday, New World Gold Corp. reported $5,60 million in revenues for the nine months ended September 30, 2012 versus $4.04 million for the same period last year. The revenue for the nine month period already exceeds the revenue for the entire 12 months ended December 30, 2011 and they had inventory of $1.18 million as of September 30 as well. Amazing numbers which exceed those when NWGC stock was trading at above $0.15 for most of 2011.
The Company’s 5 producing gold mines, 3 fully operating mills with a combined capacity of 380 tonnes per day with an average head grade of the ore being processed of 1.0 oz of gold and 15 gm of silver per tonne of ore produced a net profit for the nine months ended September 30, 2012 of $1.2 million versus less than half that amount for the same period last year. The $681,984, or 132% increase in profit can be better understood when paired up with the float: $0.0099 in profit per share. So basically, NWGC stock is trading at 2X Net Income right now.
About NWGC Stock
New World Gold Corporation is the operator of leased properties in which it plans to find mineral resources, specifically, gold. The Company’s focus is to develop and produce gold assets in South America (Ecuador and Peru) and the United States.
Bottom Line: NWGC is a must add to the list of penny stocks to watch. with huge potential upside and a recent surge in volume over the last three trading sessions, the revenue and net income numbers reported could be enough to create interest in NWGC stock. Like many other gold mining stocks that have growing revenues like Santa Fe Gold (SFEG), this is a hidden gem buried in the pink sheets.
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