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Micro-Cap in Focus; New World Gold Corp. (NWGC)

Shares of New World Gold Corp. (PINK: NWGC), a developer and producer of gold assets in the U.S. and internationally, are down sharply in trading today.

NWGC shares are currently trading 5.26% lower at $0.0900 on above average volume of 867,409.

New World Gold on Tuesday announced that it hired an independent mining engineer to assess its additional new reserves. NWGC, which has existing operations in Ecuador and Peru, said that previous reports suggest that it has 695,000 ounces of proven, developed ounces of gold.

NWGC said that its near-term goal is to process 150 tons of ore per day. By the end of September 2012, the company plans to process 250 tons of ore per day.

New World Gold expects substantial growth as it brings its mills up to production capacity and brings additional concessions on production.


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