Orlando, FL 1/27/12 (StreetBeat) -- 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.
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