Dynacor: Boosts Metal Sales To Record Levels of USD $9.96 Million in August
September 18 2012 - 9:38AM
Marketwired
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
Dynacor (TSX:DNG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Dynacor (TSX:DNG)
Historical Stock Chart
From Apr 2023 to Apr 2024