PennyTrader.com Trade Alert for today is Andes Gold Corp. (PINK: AGCZ).
Andes Gold, through its wholly owned subsidiary company Compania Minera P.L. In Eucador, South America) controls a gold mining and exploration concession called the Miranda Alto.
Andes has a producing gold mine with proven producing reserves in Ecuador South America. The mine produces up to 20 tons per day with an average head grade of 1.0 ozs (32 gms) of gold per ton. Andes has its own operating mill to process its ore and is not dependent on other companies with mills to process its ore. The company is currently upgrading the capacity of the mill so that it will be in a position to process other people's ore. This will result in a secondary income for the company. Andes continues to examine new leases with the intention of increasing its proven reserves.
March 30 - Andes Gold Corp. Releases Financial Statements, Reports Increased Revenues for 2011
Andes Gold Corp. (Pinksheets: AGCZ.PK), a gold mining company with existing operations in Ecuador, today released its financial statements for the year ended December 31, 2011. The report was filed and is available on Pink Sheets.
The report shows total revenues of $4,447,521, compared to revenues of $2,926,000 for the year ended December 31, 2010, an increase of $1,521,521, or 52% over the prior year. Gross profits for the 2011 year were $2,074,388, compared to $1,307,109 for fiscal 2010, an increase of $767,279. Net profits for December 31, 2011 were $521,294 compared to $257,289 last year. This represents an increase of $264,005, an increase of 103%.
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