Dynacor Announces Plan to Increase 2019 Second Half Production by 30%
August 15 2019 - 11:45AM
Dynacor Gold Mines Inc. (“Dynacor” or the “Corporation”)
(TSX:DNG) (OTC:DNGDF) a leading ore purchasing and
processing corporation servicing artisanal and small-scale miners
(ASM) in Peru, today announced a new ASM plan to increase
production to an annualized rate of 88-92,000 of gold. The
Corporation is forecasting to produce 44-46,000 ounces of gold in
the 2nd half of 2019, a 30% increase from the first half.
The plan focuses on four significant
measures:
- On May 2, 2019, Dynacor signed an ASM mining agreement
authorizing a group of local miners to carry out underground
extraction work on the Corporation’s Tumipampa exploration project.
To date fifteen new high-grade deliveries of 544 tonnes averaging
1.44 oz/t Au have made its way to the Corporation’s ore-processing
plant near Chala, Peru.
- Dynacor began work with a second and new ASM mining group to
extract mineralized material from one of the Corporation’s other
mining concession located in northern Peru. The group’s first
delivery took place in June 2019.
- Currently, the Corporation is nearing completion to sign with
new groups of ASMs to add four (4) new gold mining concessions to
its portfolio. Dynacor expects to see significant throughput from
these further concessions on or before December 31, 2019.
- An additional group of ASMs located near the Corporation’s
Tumipampa exploration project is currently in negotiations with
Dynacor to further augment production from the high-grade
underground zone. The new ASM group expects to start operations in
another section of high-grade veins on or before December 31, 2019.
Dynacor’s ASM plan has come to fruition on
schedule. In June 2019, the Corporation generated its best June on
record with ore purchases amounting to 8,500 tons. Following
through into July 2019, the Corporation then generated a new
all-time record-breaking month of purchased mineralized material.
Dynacor purchased just over 10,000 tons.
ABOUT DYNACOR
Dynacor is a dividend paying gold production
corporation headquartered in Montreal, Canada. The corporation is
engaged in production through the processing of ore purchased from
artisanal and small-scale miners (ASM). At present, Dynacor
produces and explores in Peru where its management team has decades
of experience and expertise. In 2018, Dynacor produced 81,314
ounces of gold, a yearly best and 1.8% increase as compared with
2017 (79,897 ounces).
Dynacor produces environmental and socially
responsible gold through its ‘’PX Impact’’ gold program. A growing
number of supportive firms from the fine luxury jewelry,
watchmakers and investment sectors are paying a small premium to
our customer and strategic partner for this PX Impact gold. The
premium provides direct investment to develop health and education
projects to our ASM communities.
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 preceding 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 (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold
Shares issued and outstanding: 39, 060,
705
For more information, please contact: DynacorDale Nejmeldeen
Director, Shareholder Relations Dynacor T: (604) 492.0099 E:
nejmeldeen@dynacor.com
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