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
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
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...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
Today traditional IT approaches leverage well-architected compute/networking domains to control what applications can access what data, and how. DevOps includes rapid application development/deployment leveraging concepts like containerization, third-party sourced applications and databases. Such applications need access to production data for its test and iteration cycles. Data Security? That sounds like a roadblock to DevOps vs. protecting the crown jewels to those in IT.
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 21st Cloud Expo, Lennart Frantzell, a Developer Advocate with IBM, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing devel...
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...