Las Vegas, Nevada and Toronto, Canada – August 13, 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.
For more details visit the company web site http://www.dhanoaminerals.com . Stock investment summaries, quotes and a Dhanoa Research Report issued by a leading stock analysis company (http://www.princetonresearch.com) can be found at http://www.emergenews.com/
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.
