RENO, Nev., Jan. 26, 2012 /PRNewswire/ — Dhanoa Minerals, Ltd. (Pinksheets: DHNA) signed a Letter Of Intent (L.O.I.) with Vision Energy Corp. to acquire 75% majority interest, of Vision Energy’s share of a major desalination project in the Republic of Guinea in West Africa. Dhanoa’s interest will include the rights, entitlements and benefits of Vision Energy in the desalination project.
Vision Energy has an agreement with Sofitrad SA of Brazzaville, Republique of Congo, to construct and operate a Desalination Plant located in the Republique of Guinea which will produce 5 million gallons per day of potable fresh water from seawater. The Agreement calls for Sofitrad to provide the $20 million funding Guarantee for the project and the Take or Pay contract for the entire plant production.
The division of net profits from the operation will be split 50/50 between Vision Energy and Sofitrad. Projections show that the annual net profit in a full year of operation will be around $10,500,000 after operating costs, maintenance, debt service and taxes. Dhanoa Minerals’ 75% share of Vision Energy’s portion of that annual yield is calculated to be approximately $3,937,500. Dhanoa Minerals and Vision Energy still own 100% of the equity in the plant and license.
The L.O.I. calls for CC Gas Systems of Florida to be the Construction contractor and permanent plant operator.
About Dhanoa Minerals, Ltd.:
Dhanoa Minerals, Ltd. (Frankfurt WKN: A0LB3X: Kurzel: D7Z, Pinksheets: DHNA) is a production stage company formed to acquire and develop natural resource properties. Activities include gold, precious metals and minerals, including rare earth minerals production and sales. The Company has initiated a new program to evaluate undervalued assets, including clean tech and alternative energy investments, for potential addition to its portfolio.
Company Contact Information
Mr. Henry Manyan, Esq., Chief Operating Officer
Dhanoa Minerals, Ltd.
429 West Plumb Lane,
Reno, Nevada 89509
SOURCE Dhanoa Minerals, Ltd.
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