PARRAL, MEXICO--(Marketwired - March 7, 2014) - Monarchy Resources, Inc. (OTCBB:MONK)
The Company is pleased to announce that New World Metals has acquired a mill which will be installed within the next 120 days. The mill will be located 15 kms outside of Parral, Mexico, and will be used to process ore currently stockpiled and being produced at the Morelos, La Luna and Peneto mines. The mill will have the capacity to process 20 tons a day and produce gold and silver concentrate through a single-stage flotation circuit process. The concentrate will be shipped to a refinery located in Torreon, Mexico. New World Metals has informed the Company that it anticipates sending its first shipment of gold and silver concentrate by June 2014. New World continues to develop its underground operations at each of its three operating mines.
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. Monarchy's non-operated position continues to gain momentum as Monarchy partners with more operators and land professionals. 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.