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

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
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
We're entering the post-smartphone era, where wearable gadgets from watches and fitness bands to glasses and health aids will power the next technological revolution. With mass adoption of wearable devices comes a new data ecosystem that must be protected. Wearables open new pathways that facilitate the tracking, sharing and storing of consumers’ personal health, location and daily activity data. Consumers have some idea of the data these devices capture, but most don’t realize how revealing and...
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"We are a custom software development, engineering firm. We specialize in cloud applications from helping customers that have on-premise applications migrating to the cloud, to helping customers design brand new apps in the cloud. And we specialize in mobile apps," explained Peter Di Stefano, Vice President of Marketing at Impiger Technologies, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.