NEW YORK, Feb. 1, 2013 /PRNewswire/ -- Dolat Ventures Inc. (OTC: DOLV) announced today that its it is expected to enter into a timber operation located in the Kono district of Sierra Leone. The Company is currently investigating a 45k acre project which is expected to produce up to $150,000 to $200,000 a month once in operation. The license has already been issued and DOLV is currently in negotiations to begin operations upon complete due diligence.
The government of Sierra Leone is distributing a few exclusive licenses to cut timber for export. DOLV intends to have access for operations to a private forest of about 45,000 acres to utilize the license. The advantage of a private forest as opposed to a public forest is that DOLV will have direct access to a variety of African hardwood timber which are in high demand for export without the need for a government lease. DOLV is projecting that once underway, the project may generate up to $500,000 a month and progress to $2,000,000 a month. The projections depend on the size of the DOLV operation over the next three quarters. Additional information on the DOLV timber project will be released over the next month.
Sierra Leone is considered one of the most stable countries on the African continent. It has a thriving democracy along with a growing economy and the investment climate is booming. Sierra Leone's coast has fertile seas, vast mineral resources and hard working people...a true land of opportunity.
Dovid Hauck, President of Dolat Ventures stated, "Our future continues to be very exciting with this additional revenue source. The Company remains focused on expanding its diamond resources at the Baimbawai Pool on the Sewa River. At current grades and diamond values, the Baimbawai Pool on the Sewa River potentially maybe one of the highest known value per ton kimberlites globally. Dolat is also in preliminary negotiations with other mines within 10 kilometers from Dolat's mines that have an interest in being acquired. There is plenty of opportunity for expansion in diamonds and into gold, timber and other metals. We intend to be drilling and upgrading the resource statement during the fourth quarter of this year and I look forward to updating shareholders as we progress."
About Dolat Ventures Inc. (OTC: DOLV) www.dove-diamonds.com: Dolat Ventures Inc. through its wholly owned subsidiary Dove Diamonds & Mining intends to sell, market, cut and distribute its diamonds and gems around the world. Dolat's Millenium Mining is located in the Sewa River, located in the heart of Sierra Leone, West Africa formed by the junction of the Bagbe and Bafi rivers; it flows 150 mi (240 km) to join the Waanje River and form the Kittam, which empties into the Atlantic Ocean. The country's most important commercial river, it has historically produced the bulk of Sierra Leone's diamond exports. The company intends to wholesale its rough and uncut diamonds globally.
Forward-Looking Statements This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Dovid Hauck, President
SOURCE Dolat Ventures Inc.