Vancouver, BC / ACCESSWIRE / May 7th, 2014 - Newlox Gold Ventures Corp. ("Newlox" or "the Company") (CSE: LUX, XETRA(R): NGO) advises that the Company's common shares are now trading on Deutsche Borse Group's XETRA(R) trading platform, with the requisite bank sponsorship under the symbol NGO. The shares continue to trade on CSE and Frankfurt.
XETRA(R) is the leading European trading platform offering some 900,000 tradable products including more than 11,000 German and international stocks. Among them are well-known blue chip companies such as Siemens, BMW, Daimler, and Bayer. The platform is known for its integrity, stability and security as well as cost-efficient trading on a highly liquid market. XETRA(R) provides a pan-European trading network with some 250 participants in 18 countries and more than 4,500 authorized traders.
The XETRA(R) listing marks a further step in Newlox's commitment to broaden and enhance trading of the company's common shares and is one of many initiatives planned to further increase market awareness for the company.
Gold Recovery and Soil Remediation Project - Costa Rica
Newlox, through its local subsidiaries, has a series of arrangements in Central America whereby it has access to inventories of historical gold bearing waste dumps. The Company will reprocess these materials in a cost effective and environmentally responsible way. Under the guidance of Professor Marcello Veiga, Newlox's Senior Technical Advisor, it has installed a small processing facility which is proving effective in upgrading the materials from an average of 22 grams per tonne to +300 grams per tonne of gold.
A second phase of the circuit has been purchased and, when operational, it is expected to recover the fine gold and increase recovery by ten times the current amounts. The pilot plant is rated for throughput of 48tpd and is targeted to be fully operational by month end. Once the first plant is functioning at designed criteria the Company plans to deploy small self-contained (non polluting) processing plants across numerous identified locations throughout Latin America. Newlox anticipates that this initiative will be embraced by local stakeholders while providing Newlox with a fast-track route to low cost precious metals production without the risks and costs associated with exploration, drilling, and mining.
In keeping with the strategy of delivering operational cash flow to support organic growth, the Newlox team has also fielded a gold trading platform in Latin America whereby the company purchases gold from various sources in the field before reselling the metal through established networks. By employing a rapid turnaround on purchases at high volume, Newlox has been able to generate meaningful revenue based upon modest margins per transaction while mitigating risk associated with commodity price volatility. The Company's gold trading program is progressing well. Margins are within expectations and volumes are increasing satisfactorily at 20% monthly.
Expansion - Nicaragua
The company has established a subsidiary in Nicaragua, in anticipation of replicating its remediation and trading model there where it has local support from the authorities including the Chamber of mines and the Nicaraguan Promotion Agency (PRONICARAGUA).
Newlox's environmental reclamation approach is intended to provide valuable environmental and social benefits to local stakeholders while simultaneously generating meaningful revenue. With mercury contamination due to artisanal mining emerging as a major issue in Latin American politics, Newlox is receiving strong encouragement from local government officials.
ON BEHALF OF THE BOARD
Donald Gordon, Chief Executive Officer Contact information: [email protected]
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.