The price of Gold has recently sky rocketed to over $875 per ounce, Hidalgo Mining International hopes to cash in on this in a big way in West Africa. With the recent purchase of dredges, mining equipment and a 50-yard per hour Goldfield series wash plant, the company hopes to start production by the end of January 2008. President of HMIT, Mark Daniel Klok, anticipates revenues in excess of $6.64 million for the company in 2008.
This is the year where HMIT hopes to transition from an exploratory company into a producing company, and Klok believes that is possible after receiving a purchase order for the first 20 metric tons of Tantalum that is mined from the West African coast of the company’s Guinea property. With their current equipment, production is anticipated to run at full capacity and has the potential for up to $3.2 million in monthly gold recovery.
Hidalgo Mining International has detailed plans for their future endeavors laid out on their webpage at www.hidalgominingint.com. They are a company geared up for an optimistic future. The performance of HMIT stock speaks for it YTD the stock is up 130%. There is great potential in the gold mining and gold services industry, and HMIT is one way to get into the action.
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