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=>Projects
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Dhanoas goldmines Bonanza, Guanache and Mollopongo are located in Southwestern Ecuador. The resource estimate for these 3 mines amounts to 850.000 ounces of Gold. This resource estimate was compiled by Cambior Mining (now IAMGold Corporation) at the end of the 1990s. The average gold grade from Bonanza, Guanche and Mollopongo is at approximately 6-12 g/t. Currently, the 3 goldmines process approx. 700 ounces of gold per month. From October 2007, during the first year of production (July 2007 – June 2008) the gold production shall be significantly increased to 50.000 ounces per annum. This corresponds to approx. 4000 ounces per month. Through full capacity of the Spanish Plant from Texas Crusher Systems, Inc the production can even rise up to 100.000 ounces of Gold in the first year. For the second year of production the company aims to process 200.000 ounces of gold and for the third year 250.000 ounces The next takeover target is the so called Porvenir Mine; if the Due Diligence study is positive. The Porvenir Mine is located south of the recently acquired Bonanza Mine and is and ideal complement to Dhanoas mining portfolio. (Date: August 2007)
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Increase of Production In June 2007 Dhanoa Minerals purchased an ore processing plant for 550.000 US-$ with the name San Jorge alias Spanish Plant from Texas Crusher Systems, Inc. The plant will be integrated into the company in September 2007. Through this ore plant the ore can be processed faster and more efficient. From October 2007 the current gold production will be increased tremendously to achieve the set production targets for the first year of production. With an ore processing volume of 500 tonnes per day and a gold grade of 8 gram per tonne the production will be increased up to 4000 gram (4 kilos of gold) per day! The monthly production will be increased to 120 kilos of gold (4200 ounces) on average at full capacity. Dhanoa Minerals is able to reach an annual gold production of approx. 50.000 ounces of gold. The production can be increased even further at full capacity of the Spanish Plant. Dhanoa plans to increase the recovery rate at its gold producing properties by as much as 40% through its new centralized processing facility known as the Spanish Plant from Texas Crusher Systems, Inc . This improvement will greatly improve efficiency, eliminate waste and by-products, and raise overall production levels, resulting in a corresponding increase in the company’s revenues. The Spanish Plant allows the refinement of a greater tonnage of ore each month.
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When it is not in use, the processing facility will be leased to neighbouring gold producing properties for a substantial fee, including a percentage of gold production. Such alliances with neighbouring gold producing properties provide Dhanoa with additional revenue streams and allow operations at the Spanish Plant to continue at full capacity. At the present time, Dhanoa has a gold recovery rate of approximately 50% of its potential value using the current plant and current methods. However, with the new processing plant in place, the company should achieve a 90% recovery rate at a reduced cost. This would substantially increase profit margins, which would be a significant milestone for the emerging company. Dhanoa Minerals resource acquisitions since mid 2010: Dhanoa Minerals turned the page on Ecuador. The Company is currently seeking for opportunities in mine friendly countries like Chile, Peru and Columbia. Dhanoa Minerals has been assessing a lot of opportunities in the last month. We will update our shareholders as soon as we complete a new resource acquisition. For more information, please refer to our news section. |
