Dana Resources (DANR)

[berbranon]

That's what I was thinking. They released the information on this back in December, so it's nothing new. In March they sent out a PR that overstating their reserves probably based on the expectation that they would resolve this problem. Now they have to correct that.

The one thing that is pretty consistent is that the company has continually stated that they want to become a mining company and it appears the focus is now on completing the aquisition of the Chota Silver Mine that can actually produce revenues.

I am sort of surprised this didn't hit .012 this morning and now it is retracing a little so there is some confidence that this company is viable.

My guess is there will be a PR in the next few weeks announcing the competion of the aquisition and revenues starting in July, 2010.

03/18/10 - Dana Resources intends to close the transaction (Chota Silver Mine) as soon as possible and looks forward to announcing the revenue generated by the mine.

This acquisition is a significant milestone in Dana's history as the company moves from an exploration and development resource company to a development and mining company.