Andes Gold Corp. ~ $AGCZ
$AGCZ ~ Business Description:
Andes Gold Corporation - $AGCZ ( http://www.andesgoldmine.com ) through its subsidiary, Compania Minera P.L., engages in exploring and mining gold concessions in Ecuador. It controls Miranda Alto concession located in the cantons of Zaruma and Portovelo, province of El Oro, southern Ecuador. The company is based in Boca Raton, Florida.
As of September 13, 2010, Andes Gold Corporation operates as a subsidiary of New World Gold Corporation:
• Andes Gold owns two producing mines and one fully operating mill.
• The mill is currently processing 50 tonnes of ore per day
• The capacity of the mill is increasing and is expected to be at 150 tonnes per day by the end of March 2012.
• The average head grade of ore being processed is 1.0 oz gold and 15 g of silver per tonne of ore.
• Andes Gold processes ore from other mines. This increases cash flow and profits.
•On the Miranda vein, the company has 95,000 oz. of proven reserves. Inferred reserves from the 700 m level on Miranda, Azul, Estrella, Sul and Viscaya veins are 600,000 oz.
• Andes Gold continues to develop existing reserves as well as acquire new reserves.
• Andes has bugun reclamation programs on its projects.
The Miranda Project is located in the cantons of Zaruma and Portovelo, Province of El Oro, southern Ecuador, about 175 kilometers south and 60 kilometers southeast of the major port cities of Guayaquil and Machala respectively. The centre of the property is located on 654,500 East and 9,594,000 North (UTM PSAD-56, zone 17S) or longitude 79° 36’ 31” West and latitude 3° 41’ 20” South (Provisional South American 1956 projection).
The $AGCZ Mining Process:
At the moment, we are processing 50t/day of ore from two different shafts. One at 1250 level and the other at 1450 level, which gives us the great advantage to develop six more mine levels right now. The company is currently extracting ore from three different veins, and with new acquisitions currently on the way, the company will soon double production after raising more capital to improve the capacity of the processing plant.
The capital raised will be invested in the following Gold circuit process:
*The dump trucks unload the ore in the coarse hopper.
*The crushing system has 2 units: A primary 10”x 16” jaw crusher and a secondary 3' cone crusher that delivers the material to 85% 1/2” to the fine hopper.
*The grinding section – classification, uses a 6' x 6’ ball mill that works in an open circuit and at the same time creates a closed circuit with the 5'x5' ball mill.
*The cyaniding begins in the ball mill where 50% of the required reagent is fed.
*The cyaniding continues in two pregnant solution tanks of 18'x18' and 15'x15' during a total time of 24 hours (green tanks). Previous alkalization took place with ph 10, 5. Capture of dissolved gold with activated carbon in 5 tanks of 11'x11’.
*The activated carbon is brought to the elution system for its treatment and soon given back to the Plant for its reuse.
End product: Gold Bars.
*Tailings are deposited in the respective tailing ponds and the surplus cyanide is destroyed.
$AGCZ ~ Business Partners:
$AGCZ is a subsidiary of $NGWC ~ New World Gold Corp.
Andes Gold Corp. is a publicly traded on the OTC Market under the symbol, “AGCZ”, and within the Pink Sheet - "Current Information" market tier. As such, Business, operational and financial information on AGCZ is available to public view.
Visit: http://www.otcmarkets.com/stock/AGCZ/company-info for more information.
Market Value: $49,937,435 a/o Mar 23, 2012
A/S : 3 Billion Per Article change on 9/12/2012
O/S : 1,019,131,318 a/o Feb 22, 2012
Float: 117,428,968 a/o Feb 22, 2012
Attorney Letter 11/15/2011 reported period ending 9/30/2011
Incorporated In: FL,USA
Year of Inc.: 1996
Standard Registrar and Transfer Co., Inc.
12528 South 1840 E.
Draper, UT, 84020
Marketwire - (Sun, Mar 25)
Andes Gold Corp Discusses Current Mining Operations, Projections for the Future:
Marketwire - (Fri, Mar 23)
Andes Gold Corp. CEO Discusses Investor Relations and Provides Update on Financial Statement Filings:
Marketwire - (Thu, Nov 17)
Andes Gold Corporation Continues to Grow:
Marketwire - (Wed, Sep 28)
Andes Gold Corporation Activates New Website:
Andes Gold Corp.
1200 N. Federal Highway, Suite 200
Boca Raton, FL 33432
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Sources: otcmarket.com, www.bloomberg.com, www.finance.yahoo.com, www.businessweek.com
(these are only sources and not always up to date)