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DHNA highest volume in over 4 months 383 trades so far... watching this one ...break of $1.10 important level.Dhanoa Minerals Projects Annual Revenues of $170 Million by Second Year of Production May 29, 2007 8:00:00 AM Copyright Business Wire 2007 TORONTO--(BUSINESS WIRE)--
Dhanoa Minerals Ltd. (OTCBB:DHNA) (FRANKFURT:D7Z) announced that it has completed a resource extraction estimate for its three mines in the Bella Rica region of southern Ecuador. First year production (ending in June, 2008) is expected to be approximately 100,000 ounces of gold, generating revenues upwards of $68 million, with gold at $680 per ounce. By the end of year two, production is projected to reach 250,000 ounces of gold per year.
The three operating mines (Bonanza, Guanache and Mollopongo) sit on the western end of the Ecuadorian metallurgical gold belt, which holds over 10 million ounces of gold.
Even if gold remains at its current price, Dhanoa management is confident that the Company will generate gross revenues of no less than $170 million each year after year two of production. However, since the price of gold is predicted to increase, Dhanoa's revenues could be correspondingly higher.
"Dhanoa has reached a significant milestone in production, and we're very excited about the prospects for the next two years," says Mr. Lee Andrew Balak, president of Dhanoa Minerals Ltd. "With the current price of gold and our vast reserves, our revenues will be considerable."
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Holding very strong with a tight spread with record volume. $1.8M and 600+ trades this one looks to be in action for awhile. Trendline break of $1.09 and approaching 50sma $1.40 could be a monster. always do your dd gl
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TORONTO, ONTARIO -- (MARKET WIRE) -- 05/30/07 -- Dhanoa Minerals Ltd. (OTCBB: DHNA)(FRANKFURT: D7Z) announced today that it will be featured in the next issue of edition of EQUITIES Magazine-the leading publication on the small and mid-cap markets- to be out on June 1. A special edition mining issue, the issue will feature Dhanoa Minerals alongside other emerging mining companies. "We are very pleased to be covered in the next issue of EQUITIES Magazine," said Mr. Lee Andrew Balak, president of Dhanoa Minerals, Ltd. "We are proud of our company and believe that investment savvy readers of EQUITIES Magazine should respond to our exciting story."
Readers of EQUITIES magazine include stockbrokers, fund managers, analysts, corporate executives, as well as retail and intuitional investors. The magazine is available at Borders, Barnes & Noble, Books-A-Million and other major bookstores as well as hundreds of newsstands nationwide.
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