|By Marketwired .||
|August 6, 2014 06:00 AM EDT||
PARRAL, MEXICO -- (Marketwired) -- 08/06/14 -- Monarchy Resources, Inc. (OTCQB: MONK) -
The Company is pleased to announce that now that New World Metals is in the final stages of completing construction of its first 20 ton per day mill, New World is seeking to commence construction on a second, larger mill that will have the capacity to process up to 100 tons of ore per day. The plan is to erect the larger mill at the present location, outside Parral, while the smaller mill is in operation. Once the 100 ton per day mill is fully operational, New World intends to mobilize the 20 ton per day mill directly on site at the Morelos Mine. New World still anticipates sending its first shipment of gold and silver concentrate by late August.
About Monarchy Resources
Monarchy Resources ("Monarchy") engages in a variety of investments in historically significant, mining claims and mining real estate world-wide with mineral reserves primarily consisting of precious metals. Monarchy Resources takes a minority, non-operated position in precious metal mining projects. We combine experienced management, low overhead and capital towards promising strategic acquisitions. We allow operators to remain focused on their operated interests and in return Monarchy receives revenue share of the profits from such participation. Currently Monarchy holds a 45% interest in New World Metals, a Mexican mining company.
About New World Metals
New World Metals ("NWM") is a mineral development, ore processing and refining company focusing on expanding its production of gold and silver in Chihuahua, Mexico. NWM has three operational mines in Mexico.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-K and 10-Q. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public.
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