Dolat Ventures Inc. DOLV -0.43% 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.