Press Release Source: Dhanoa Minerals Ltd.
Dhanoa Minerals Ltd. Models New Facility and Engages Private Equity Firms
Monday November 5, 12:06 am ET
TORONTO, November 5 /CNW/ - Dhanoa Minerals Ltd. (OTC: DHNA - News; Frankfurt: D7Z - News) announced today that it has completed interconnecting the company's Mollopongo, Guanache and Bonanza mines in Ecuador, South America. Analysis of scope, logistics and estimates of costs and cost effectiveness and volume of ores have caused the company to model a larger centralized production facility.
This new model would change the Company's current operation from a maximum 100 ton per day operation of 8 gram gold ore (8,600 ounces of gold per year) to 300 ton per day plant producing 8 gram gold (25,800 ounces of gold per year) and 1000 tons per day of 3 gram gold (32,000 ounces of gold per year). The Company believes that if its current assessments are accurate the proposed changes are to take advantage of the robust gold and commodity cycle and to avoid the costs associated with maintaining our existing dated equipment.
The Company believes that its return on investment from these changes may offer significant new opportunities. If these assessments are accurate and if current market pricing conditions continue, the installation of the new, state of the art equipment may allow the Company the ability to produce more gold.
The Company believes that this planned modular designed plant may be more environmentally friendly than the cyanide system that the Company currently uses. With the new equipment, the values from the leach solution will be collected using ion-exchange resins. The loaded resin will then be transported to a central location for the recovery of precious metals. In processing this way we will have much higher level of security during transport and recovery.
Lee Balak, President and C.E.O., stated, "These efforts, when implemented, will accelerate Dhanoa to our initial goal of 100,000 ounces of production per year." The company would also like to report that our permitted mines meets or exceeds the mining compliance requirements of Ecuador.
The Company also reported that it has engaged the services of World Stock Exchange, LLC, to provide financial advisory services. www.worldstockex.com
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, the extent to which gold price market trends may continue, and the uncertainties of competitive pressures we face. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements.
For further information
Dhanoa Minerals, Ltd. Lee A. Balak, 416-838-4348 Chief Executive Officer and President or Princeton Research, Inc Mike King, 702-650-3000 or Dedicated Marketing Chris Roundtree, 972-731-5112 ext 101
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Source: Dhanoa Minerals Ltd.
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