New World Gold Corporation Production Update

New World Gold Corporation (PINK: NWGC) announced its current gold production ranges from 8 to 11 ozs of gold per day.

The press release is quoted as saying:

Over the next quarter, it is anticipated that production will increase by 70% to 14 to 17 ozs of gold per day. The current market price for gold is over $1300 per oz. The price per oz of gold is anticipated to remain at or above $1300 for at least a year. Several gold analysts have predicted that the market price for gold will increase to up to $1500 per oz over the next 6 months. As the company brings additional leases on production, as well as begins to develop secondary veins, production is projected to reach 23 to 25 ozs of gold per day by mid 2011. The Company continues to look for additional opportunities to increase production from existing operations.

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