Dynacor Provides Gold Ore-Processing Operational Update
September 18 2020 - 9:05AM
Dynacor Gold Mines Inc. (TSX: DNG) (Dynacor or the
Corporation), an international leading ore purchasing and
processing corporation servicing artisanal and small-scale miners
(ASM), provides an update from its Veta Dorada plant in southern
Peru.
Gold ore supply since the reopening of the mill
is exceeding management’s expectations. For July and August 2020,
Dynacor purchased 14,224 tons of gold ore and produced 8,625
ounces. Gold grades and ore supply are consistently increasing on
month by month basis since the plant reopening. Gold ore purchases
in June, July and August 2020 are 4,044, 6,075 and 8,149 tons of
gold ore, respectively. Management expects ore purchases in Q3-2020
(July-September) to be its best quarter year to date.
Due to the COVID 19 pandemic country-wide
shutdown, the Peruvian government on March 16, 2020, prohibited all
ASM mining operations to June 4, 2020. Abiding by the government
quarantine restrictions, it was impossible and illegal to produce
and transport any ASM ore during this period. The Peruvian
government published a decree approving phase 2 reopening of
economic activities on June 4, 2020. On June 6, 2020, Dynacor
partially resumed operations with expectations of a return to full
operating capacity of 300 tonnes per day before September 30,
2020.
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
the ASM (artisanal and small-scale mining) industry. At present,
Dynacor produces and explores in Peru, where its management team
has decades of experience and expertise. In 2019, Dynacor produced
80,677 ounces of gold.
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 small-scale artisanal miner’s communities.
Dynacor is listed on the Toronto Stock Exchange
(DNG).
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)Website:
http://www.dynacor.com Twitter: http://twitter.com/DynacorGold
PDF
available: http://ml.globenewswire.com/Resource/Download/45375e62-55be-461e-9036-524bf8a607ef
For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230
E: investors@dynacor.com
Dynacor (TSX:DNG)
Historical Stock Chart
From Apr 2024 to May 2024
Dynacor (TSX:DNG)
Historical Stock Chart
From May 2023 to May 2024