Hondo Expands Its Operational Infrastructure In Preparation For Revenue Production At Tennessee Mine
CHLORIDE, AZ, April 14 /PRNewswire/ - As an update, Hondo Minerals Corporation (OTCBB: HMNC), is pleased to announce the expansion of its operational infrastructure in preparation for the opening of the processing facility at the Tennessee mine.
Hondo has expanded its operational infrastructure with the addition of support vehicles, multiple pieces of earth moving equipment, a self contained assay and research lab, and a crush plant in preparation for initial ore processing and revenue production next month. In addition, Hondo also began preparations for the arrival of the generator that will supply power to the facility and provide ample power for expansion of operations in the future.
"I am pleased with the progress at site, and to be able to report that the project is moving ahead as expected. We now have most of the necessary equipment to begin processing as we complete the final stages of construction in preparation for the initial stage of operation," Says William R. Miertschin, Chairman and CEO of Hondo Minerals.
The processing facility is anticipated to open this May. Once complete, the Tennessee Mine processing facility will recover gold, silver, zinc, and other metals. It is estimated that the daily processing capabilities will commence at 10-20 tons per day and increase to 50 tons per day during late 2011, 200 tons daily in 2012 and 300 tons daily in 2013.The company expects to provide additional updates on the progress of the Tennessee Mine Processing Facility in the near term. About The Company Hondo Minerals Corporation is engaged in the acquisition of mines, mining claims and mining real estate in the United States, Canada and Mexico with mineral reserves of precious metals or non-ferrous metals. Hondo owns the Tennessee and Schuylkill Mines in Chloride, Arizona. The Tennessee Mine was the largest producing silver mine in Arizona history. The Tennessee Mine operated from the late 1800's until 1947 producing lead, zinc, gold and silver. The Company also owns numerous other mining claims in the US Southwest, which are being evaluated for additional reserves. This press release contains forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-KSB and 10-QSB. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public. Please visit www.Hondominerals.com SOURCE Hondo Minerals Corporation
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV