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Gold Bar Development & Consulting Ltd. Releases 2013 Revenue Results
Hamilton, Bermuda – 16 April, 2014 – Gold Bar Development & Consulting Ltd (the “Company”; Ticker: GOLD.BH, Frankfurt Ticker: B7GN) announces it has released its revenues for the year ended 31 December, 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.
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.
For further information on the Company, please contact investor relations: Info@GoldBarLtd.com or +1 855 419 GOLD (4653); or,
Bermuda Listing Sponsor:
Cohort Limited.
Mrs. Tracy Packwood Tel: (441) 295 2043
Email: info@cohort.bm