Gold Bar Development & Consulting Ltd.
Gold Bar Development & Consulting Ltd.: Gold Bar Development & Consulting Ltd. Releases Revenues For Year Ended 12-31-13
DGAP-News: Gold Bar Development & Consulting Ltd. / Key word(s): Final Results 14.04.2014 / 09:33 --------------------------------------------------------------------- Hamilton, Bermuda - 14. April 2014 - Gold Bar Development & Consulting Ltd. (the "Company", "Gold Bar"; BSX Ticker: GOLD.BH, Frankfurt Ticker: B7GN) announces it has released its revenues for the year ended December 31, 2013. The Company reported 286 ounces of gold recovered, totaling $407,468 in revenues for 2013. This brings the Company's total mined ounces to 614 and total revenues for the two years ended December 31, 2013 and December 31, 2012 to $918,649. To date, Gold Bar has done all of its mining with a single crew of 10 workers and a very basic alluvial mining set-up. Limited by capital, the Company has been using a basic sluice box, which while effective at catching gold, is not as efficient as it can be. This year, the Company plans to invest in additional equipment for its current mining crew, which will enable the Company to catch more of the gold. In addition, the Company plans to invest in new equipment and put additional mining crews into place. Overall, the Company mined, on average, 25 ounces of gold per month for 2012 & 2013. By investing in better equipment for its current mining crew, the Company intends on increasing that to 100 ounces per month. By the end of 2014, the Company plans on investing in 3 additional fully equipped mining crews, which will have the latest in gold catching technology, bringing total mining crews under management to 4. The Company projects to be producing 400 ounces of gold per month, averaging 100 ounces of gold per month per crew, by the end of 2014. About Gold Bar Development & Consulting Ltd.: Gold Bar Development & Consulting Ltd. is a Bermuda based Gold Exploration & Consulting Company with significant holdings deep in the Gold Rich Jungles of Guyana, South America. Guyana has one of the largest mineral deposits in the world. The Company currently concentrates on surface mining of a layer of approximately one meter. In order to maximize revenues, the Company combines the team's experience with the latest technologies. The extracted gold is sold to the Guyana Gold Board. The Company plans to utilize a portion of its profits on exploration work to determine the presence of gold that is embedded in rocks below the surface. Gold Bar also offers consulting services to other mining companies that want to start business in Guyana or mining companies that want to expand their operations in Guyana. By supporting other mining companies financially and logistically, Gold Bar can enter into joint ventures and participate in revenues. The possibility to share resources enables Gold Bar to generate a short-term Return-of-Investment. Forward-Looking Information This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the estimation of mineral resources. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the receipt of applicable regulatory approvals, risks related to the debt facility proceeding, risks related to the final findings and assumptions set forth in the Technical Report, general business, economic, competitive, political and social uncertainties; the actual results of exploration activities; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Company Contact: Gold Bar Development & Consulting Ltd. Saratu Phillips, CEO of Gold Bar Development & Consulting Ltd. Bryan Bardes, CFO of Gold Bar Development & Consulting Ltd. Telephone +1-855-419-4653 Address: Veritas Place 65 Court Street, Hamilton HM 12, Bermuda End of Corporate News --------------------------------------------------------------------- 14.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 263015 14.04.2014
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