Welcome!

News Feed Item

Dynacor Gold Mines: Operational and Corporate Update

MONTREAL, QUEBEC -- (Marketwired) -- 02/24/14 -- Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) in order to inform its shareholders is releasing an operational and corporate update on its ore processing operations and exploration activities in Peru.

Ore Processing and Gold Exports

As reported in our January 29, 2014 press release, the Peruvian Government tax and customs authorities "SUNAT", in an effort to eliminate illegal gold mining in Peru, have significantly increased their requirements in terms of documentation to be provided to Customs in order to verify the legitimacy of the origin of the gold presented for exportation. These procedures are aimed at gold exporters who do not own and operate a mine. Dynacor produces gold from the processing of ore purchased from government registered ore suppliers from all over Peru. Dynacor is providing Customs authorities with all the additional documentation we have been asked for on an ongoing basis.

Dynacor President and CEO Jean Martineau recently stated "I am confident that the problem related to the export of our gold will be resolved shortly. In the meantime, we are managing and securing our cash reserves prudently in order to be able to meet all of our obligations both in Canada and in Peru."

Huanca Gold Processing Plant

The Company is pleased to announce that in early January 2014 the Huanca plant's gold ore processing capacity was increased by 8.5% from 230 tonnes per day to 250 tpd. Since then, the plant operated at 250 tpd during the month of January and into February without any problems.

Gold ore that was contracted in January but only delivered last week to the plant is currently being processed at 150 tpd. The plant will have finished processing this ore by the end of February.

Gold and Silver Production

In 2013 gold production reached a record 76,883 ounces an increase of 25.5% as compared to 2012 (61,274 oz.). Silver production in 2013 was 131,686 ounces. In Q4-2013 gold production was 19,220 ounces an increase of 3.3% as compared to Q4-2012 despite a decrease in the processed ore gold grades from 1.03 oz/t (Q4-2012) to 0.99 oz/t in Q4-2013.

Gold Production in 2013 and in 2012

     -----------------------------------------------------------------
                                                                  2013
                    --------------------------------------------------
                            Q1        Q2        Q3        Q4     Total
                    --------------------------------------------------
     Au (oz)            20,022    17,899    19,741    19,221    76,883
     Grade(oz/t)         1.139     1.010     1.015     0.990     1.042
     Rate (tpd)            222       220       234       237       228
     -----------------------------------------------------------------

     -----------------------------------------------------------------
                                                                  2012
                    --------------------------------------------------
                            Q1        Q2        Q3        Q4     Total
                    --------------------------------------------------
     Au (oz)            13,111    12,392    17,168    18,603    61,274
     Grade(oz/t)         0.794     0.823     0.934     1.030      0.91
     Rate (tpd)            216       199       220       218       214
     -----------------------------------------------------------------

Until the Company receives authorization to resume its gold exports and is able to operate its Huanca plant on a normal basis the Company cannot reasonably publish a gold production guidance for 2014.

Chala Construction Permit

There have been no new developments regards the Chala construction permit for the moment. However, considering the current situation with respect to illegal gold exports, Dynacor expects that the construction permit will be further delayed.

Exploration at Tumipampa

Dynacor has now completed its current underground drilling campaign focused on the high grade Manto Dorado structure and its associated veins. The assay data from the last 5 drill holes will be released shortly as soon as they are available.

Dynacor recently reported close to the surface disseminated gold mineralization (see Press Release dated September 27, 2013) at Tumipampa. This part of the Tumipampa property has been further explored in a recent geochemical and surface sampling study. Topology of the area has been mapped, the geology of the area has been studied and a series of grab samples have been taken. The results will be published in due course.

ABOUT DYNACOR GOLD MINES INC.

Dynacor is an ore processing and gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru. The Company's assets include five exploration properties, including the Tumipampa property, as well as its 230 tpd gold and silver ore processing mill at Huanca. Dynacor's mill produces gold from the processing of ore purchased from ore producers from all over Peru. Dynacor's strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.

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)

Website:http://www.dynacorgold.com

Twitter:http://twitter.com/DynacorGold

Facebook:http://www.facebook.com/pages/Dynacor-Gold-Mines-Inc/222350787793085

Shares outstanding: 36,373,587

Contacts:
Jean Martineau
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 Ext. 228

Dale Nejmeldeen
Investor Relations
Dynacor Gold Mines Inc.
604.492.0099 / M: 604.562.1348
604.608.9223 (FAX)
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
You know you need the cloud, but you're hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You're looking at private cloud solutions based on hyperconverged infrastructure, but you're concerned with the limits inherent in those technologies. What do you do?
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.