20/10/2014 00:23:44 Free Membership Login

Dynacor: Boosts Metal Sales To Record Levels of USD $9.96 Million in August

Date : 09/18/2012 @ 9:38AM
Source : Marketwired
Stock : Dynacor Gold Mines (DNG)
Quote : 1.7  -0.01 (-0.58%) @ 4:16PM
Dynacor Gold Mines share price Chart

Dynacor: Boosts Metal Sales To Record Levels of USD $9.96 Million in August

Dynacor Gold Mines (TSX:DNG)
Historical Stock Chart

3 Years : From Oct 2011 to Oct 2014

Click Here for more Dynacor Gold Mines Charts.


Dynacor Gold Mines Inc. (TSX:DNG) (Dynacor or the Company) recorded during the month of August a best ever 5,709 ounces of gold and 16,705 ounces of silver production from its ore-processing plant in Peru generating sales of USD $9.96 million compared to USD $6.4 million in the same period of 2011.

In the first two months of the third quarter, Dynacor generated gold and silver production of 11,410 and 24,413 ounces respectively. As of the end of August, Dynacor has produced 36,913 ounces of gold and 100,054 ounces of silver in 2012.

Mr. Jean Martineau, President and CEO of Dynacor Gold Mines, stated: "We have just completed another record-breaking gold and silver production month from our low-risk ore-processing division. The Company is in a strong financial position and does not need to resort to dilution of its shareholders in order to fuel our growth. Finally, with our drilling campaign revving up at Tumipampa, we expect to have a steady flow or drill results in the coming months."

Ore processing data for January to August 2012 is summarized in Table 1 below.

Table 1 Gold Ore Processing January to August 2012


   --------------- ---------------------- --------------- ---------------
                    Average Ore processed      Gold grade   Gold produced
   Calendar                  (tonnes/day)      (oz/tonne)        (ounces)
   --------------- ---------------------- --------------- ---------------
                                                                         
   --------------- ---------------------- --------------- ---------------
   January                            219           0.655           3,774
   --------------- ---------------------- --------------- ---------------
   February                           211           0.918           4,747
   --------------- ---------------------- --------------- ---------------
   March                              216           0.824           4,589
   --------------- ---------------------- --------------- ---------------
   April                              215           0.817           4,395
   --------------- ---------------------- --------------- ---------------
   May                                142           0.715           2,663
   --------------- ---------------------- --------------- ---------------
   June                               220           0.895           5,334
   --------------- ---------------------- --------------- ---------------
   July                               220           0.941           5,701
   ----------------------------------------------------------------------
   August                             221           0.898           5,709
   ----------------------------------------------------------------------

TUMIPAMPA EXPLORATION PROGRESS UPATE

The Company is also pleased to announce the drill at the Company's flagship exploration property has been mobilized. Management anticipates the (EIA) environmental impact assessment to be approved shortly and to receive the exploration permit to enable our diamond drilling program to commence. The skarn Zone 4 drilling program will consist of nine holes as well the Company will be excavating a crosscut and then drilling three additional holes in its gold vein rich deposit southeast of the skarn.

ABOUT DYNACOR GOLD MINES INC.

Dynacor is a 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 six exploration properties, including the Tumipampa property, along with its recently upgraded 220 tpd ore processing mill at Acari. Dynacor's mill produces gold from the processing of ore purchased from local producers. 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: 35,820,167

Contacts: Dynacor Gold Mines Inc. Jean Martineau President and CEO 514-288-3224 ext. 228 Dynacor Gold Mines Inc. Dale Nejmeldeen Investor Relations 604.492.0099 M: 604.562.1348nejmeldeen@dynacorgold.com



Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 us 141020 00:23