This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hondo Minerals Enters Into A Cash Purchase Agreement For $2.4 Million Of Additional Processing Equipment

CHLORIDE, AZ, May 9 /PRNewswire-FirstCall/ - Hondo Minerals Corporation (OTCBB: HMNC), announces that it has entered into an agreement to purchase $4 million dollars worth of additional processing equpment for $2.4 million.   All of the equipment is virtually brand new with no prior use other than testing.

William R. Miertschin, Chairman and CEO of Hondo Minerals said, "I am pleased to report to our shareholders the acquisition of this equipment which is a near perfect fit for our operations.  This will allow us the opportunity to increase our production 10 fold, lower costs, and significantly increase revenue. Because of this, the company may have the ability to reach its production and revenue targets 6 to12 months ahead of schedule."

The initial processing facility is anticipated to begin operations by May 30, 2011. 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 150 tons per day during late 2011 and 350 tons daily in 2012 as the newly acquired equipment becomes operational.

"Our Tennessee Mine property has approximately one million tons of tailings and dumps available for processing   This acquisition of additional equipment will allow Hondo Minerals the opportunity to increase processing to hundreds of tons per day," says William R. Miertschin.

Hondo's initial independent testing has indicated the Tennessee Mine tailings and dumps could produce an average of 1 oz. to 3 oz. of gold and about 30 oz. or more of silver per ton using our exclusive environmentally friendly technology. At the Tennessee Mine there are approximately a million tons of metal rich tailings and dump material.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs