Company: Newlox Gold Ventures Corp
Listings : Canadian Securities Exchange, Frankfurt
Tickers: LUX , NGO
Market cap at time of publication: $ 45 MCAD
Stock price at time of publication: $0.355 CAD
Number of shares fully diluted 190,390,637
Business: Environmentally friendly and socially responsible gold mining
Market Size: US$180bn
Website: https://newloxgold.com/
ESGFIRE comment: We are pleased to see that Newlox is taking further steps to becoming even more ESG friendly as a company by upgrading their power usage to renewable energy. The company also states that this will also generate efficent operations and cost savings.
Vancouver, BC, 4 November 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”)
(CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is pleased to announce that the Company’s
processing plants have been approved for a major electrical upgrade by the Costa Rican national
power company. Both Plant 1 and the upcoming Boston Project will benefit from connection to
Costa Rica’s high-tension three-phase electrical system. Significantly more efficient operations and
cost savings are anticipated.
Newlox Gold has always benefited from Costa Rica’s robust infrastructure. The upgraded electrical
service offered to the Company’s processing plants will assist our goal of delivering low operational
costs.
In addition to the economic benefits of the new service, Newlox is pleased to report that Costa Rica
has, for the seventh consecutive year, achieved 98% renewable energy in its electrical grid.
Recent analysis indicates that Costa Rica generates 73.39% of its energy from hydropower, 13.84%
from geothermal sources, 12.12% from wind and 0.63% from biomass and solar panels. Minister of
the Environment and Energy Carlos Manuel Rodríguez adds that Costa Rica intends to continue to
advance renewable energy development through modernization of the country’s infrastructure,
including the transportation, waste, cattle, agriculture, construction and cargo industries.
A Message from Ryan Jackson, President & CEO:
“We are delighted to report that our projects in Costa Rica will soon be linked to the country’s hightension three-phase electrical system designed for industrial operations. Connection to this system
will increase efficiency and reduce power consumption at Newlox’s facilities, supporting the
Company’s ESG goals.
What’s more, because the Costa Rican power grid is supplied with 98% renewable energy, Newlox’s
processing plants are also run on 98% renewable electricity. Costa Rica’s green power grid, a major
benefit of operating in the country, substantially enhances Newlox Gold’s ESG focus.
We can not only operate more efficiently because of the upgraded electrical infrastructure but the
vast majority of the electricity we use will be generated from renewable sources.”
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