Dynacor: Setting the Course to the Future
June 19 2018 - 10:00AM
Dynacor Gold Mines Inc. (TSX:DNG) (OTC:DNGDF) (Dynacor or the
Corporation) is pleased to publish a summary of its strategic plan
to update its shareholders and the market on the steps management
is taking to transform the company by 2021 into the leading
processor of gold mineralized material produced by artisanal
mining, worldwide.
Dynacor’s new corporate mission statement in the
strategic plan states “To be an eco-responsible ore processor by
establishing and maintaining a true partnership with artisanal gold
miners as well as with the local communities wherever we operate
around the world”.
The strategic plan is built around three
complementary pillars that will allow Dynacor to fulfill its
corporate mission. These three goals are described below.
THE THREE GOALS OF THE STRATEGIC PLAN
- Increase Profitability
- Accelerate Growth
- Promote Our Eco-Responsible Business Model
Increase Profitability
A. Implement a specific step-by-step approach that analyzes and
continuously monitors and improves the operational efficiency of
the Veta Dorada plant, by:
- Increasing the recovery rate;
- Reducing the consumption of chemicals and optimizing chemical
and water recycling;
- Automating specific parts of the processing operation; and
- Testing new technologies to reduce costs and increase the
efficiency of each operational segment.
B. Further the exploration of the Tumipampa Property in order to
determine the full value of this property, by:
- Completing the exploration of the disseminated gold zone and
the high-grade gold vein by 2020; and
- Based on the results evaluate different options for the future
of the project.
Accelerate growth
Dynacor’s management team is taking the necessary steps to fast
track the growth of the company by increasing our ore processing
capacity and gold production:
- Firstly in Peru;
- Secondly in other mining-friendly Latin-American countries;
and
- Thirdly in other parts of the world.
This strategy for growth will be based on:
- Expanding our current processing capacity at the Veta Dorada
Plant;
- Building new ore processing plants;
- Purchasing other plants;
- Entering into partnerships to expand more rapidly; and
- Licensing our business model where DNG does not wish to
directly be the operator.
Dynacor is planning to have one new plant operating by the end
of 2021 and a 2nd plant in the pipeline.
Promote our Eco-Responsible Business Model
With Investors - by continuing to minimize the issuance of
shares and the consequent dilution and by periodically using share
buy-back programmes. Profit sharing with investors using a
long-term quarterly dividend policy.
With Governments and Non-Governmental
Organizations - by increasing their awareness of the advantages of
our eco-responsible business model that is being recognized
worldwide as a means to significantly lower mercury contamination
by ASGM (Artisanal Scale Gold Miners) and support the formalization
of this activity.
With ASGMs – our business model has direct advantages for these
communities since we:
- Eliminate the need for ASGMs to use mercury and/or cyanide for
artisanal processing and they can focus on mining ore
directly;
- Support ASGMs with technical knowhow to increase their
productivity;
- Target investments to increase ASGM livelihoods and the
well-being of their communities.
With our Employees – Dynacor will continue to
lead and innovate its HR policies to ensure that we meet industry
best standards in terms of working conditions, occupational health
and safety .In particular, Dynacor will strive to offer
professional training programs to all of its employees. These
professional training opportunities will allow the company to
promote internally its employees to higher echelon positions.
With the Gold End-Users – under
the PX-Impact label with our Swiss partner PX Group we guarantee to
our gold end-users a traceability from the artisanal mine to the
end product that ensures that the gold they are using has been
responsibly sourced from artisanal miners. Furthermore, we
guarantee that gold produced in Dynacor’s ore processing facility
has been processed without using mercury which has a net benefit
for the environment by dramatically reducing the amount of mercury
released by artisanal small scale mining activities.
ABOUT DYNACOR GOLD MINES
INC.
Dynacor Gold Mines Inc. is a gold production
corporation headquartered in Montreal, Canada. The corporation is
engaged in production through its government approved ore
processing operations. At present, Dynacor produces and explores in
Peru where its management team has decades of experience and
expertise. In 2017, Dynacor produced 79,897 ounces of gold and its
production guidance for 2018 is 90-94,000 ounces of gold. Dynacor
trades on the Toronto Stock Exchange (DNG) and the OTC in the
United States under the symbol (DNGDF).
FORWARD-LOOKING INFORMATION
Certain statements in the foregoing may
constitute forward-looking statements, which involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of Dynacor, or industry
results, to be materially different from any future result,
performance or achievement expressed or implied by such
forward-looking statements. These statements reflect management’s
current expectations regarding future events and operating
performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX: DNG / OTC:
DNGDF)
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold Facebook:
facebook.com/DynacorGoldMines
Shares outstanding: 39,771,444
For more information, please contact: Dynacor Gold
Mines Inc.
Jean Martineau President and CEO #1105, 625
René-Lévesque Blvd. Dynacor Gold Mines Inc. Montreal, Quebec H3B
1R2 T: 514-393-9000 ext. 228 |
Dale Nejmeldeen Director, Investor Relations
Dynacor Gold Mines Inc. T: 604.492.0099 | M: 604.562.1348 E:
nejmeldeen@dynacor.com |
Dynacor (TSX:DNG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dynacor (TSX:DNG)
Historical Stock Chart
From Apr 2023 to Apr 2024