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Dhanoa Minerals, Ltd. (Stock Symbol: DHNA)
Mining News - Gold Mining Growth Stock Completes Acquisition Of 3 Producing Mines, Mining Refinery Processing Plant And Raw Ore Mine Tailings
Toronto, Canada – August 11, 2007 – In recent gold mining news, growth stock mining company, Dhanoa Minerals, Ltd. (Stock Symbol: DHNA) has successfully closed and recorded the acquisition of three producing gold mines in the Bella Rica region of Ecuador and taken possession of the "Spanish Plant”, a the gold and silver refinery and mining processing plant.
Lee Balak, President of Dhanoa Minerals, stated "We are now extremely focused on the modernization efforts that have been underway and are now in full gear. We are also moving into Phase 2 of our expansion program and seeking additional acquisitions. Many of the richest veins on our properties continue onto adjacent properties that have not been mined yet, which gives us a golden opportunity to expand into areas with potential reserves.”
More workers in the mines translate into increased production -- As part of this accelerated growth program Dhanoa has increased the size of its labor force to 180 miners to increase gold and silver production at its mines in southern Ecuador.
Immediate company revenue increases will be generated by using the Spanish Plant refinery to re-process existing gold and silver mining raw ore tailing stockpiles at the plant and at the company's mining properties. Initial testing results indicate that the tailings contain a minimum of 1.7 grams of gold and as many as 6 grams of silver per ton. The dollar value of the reprocessed tailings could amount to as much as $37 per ton. Based upon current production of 500 tons per day, the tailings could be worth a minimum of $18,500 per day as additional revenues, which equates to an additional $5,500,000 per year.
Dhanoa is currently on target to produce estimated annual revenues of $80,000,000.
Notice: This report is for informational purposes only. All data was obtained from information available on the Internet. No part is to be considered stock solicitation or an offer to buy or sell securities. No investment advice of any kind is to be inferred. This news release contains "forward looking statements" as defined by SEC regulations. Actual results may differ materially.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking.
SUMMARY:
In gold mining news, growth stock Dhanoa Minerals, Ltd.
(Stock Symbol: DHNA) has acquired 3 producing gold mines in Ecuador and a mining processing refinery along with raw gold and silver ore mine tailings with $5,500,000 annual revenue
estimated recovery potential.
Or Contact:
Dhanoa Minerals Ltd.
Corporate Head Quarters
Lee Balak
(416) 838 - 4348 or (416) 742 - 6579
