Dhanoa Minerals Ltd. is anticipated to to benefit from rising gold demand.
The Company owns a 100% interest in two adjacent mineral projects in Canada – Close-Allies I and Close Allies II. In addition, Dhanoa holds an 80% interest in an Ecuador mining company, Promenasa.
The Company also recently acquired four properties that are part of the Bonanza Project in the Bellarica gold mining camp in Ecuador. These are gold producing mines and Dhanoa plans to significantly increase production by upgrading extraction operations.”
“Dhanoa anticipates production at the end of its first year (ending June 2008) to be approximately 100,000 ounces of gold. At recent gold prices, the value of 2008 production would result in approximately $68 million.”
Demand for Gold rose from 3,188 tons in 2003, peaked at 3,728.7 tons in 2005, and has since declined modestly in response to higher gold prices. The outlook is for continued demand growth, fueled by world economic growth, rising demand for gold from China and India.
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