Dynacor Boosts Q2-2016 Gold Production by 11% to 17,525 oz
MONTREAL, QUEBEC–(Marketwired – July 13, 2016) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce that gold production at its Huanca-Metalex gold processing facility increased by 11% in Q2-2016 (17,525 oz) as compared to Q1-2016 (15,807 oz), (see Table 1).
During Q2-2016, ore processed increased by 3,304 metric tonnes, an increase of 24% as compared to Q1-2016 and ore grades remained well above 1 oz/tm. Historically, the Company has succeeded in increasing its production on a quarterly basis within each year. Table 2 shows the five-year average percentage quarterly increase in gold production at Huanca as compared to Q1 average production. The Q2-2016 gold production increase of 11% is well above the 7.0% five-year average increase from Q1 to Q2.
Jean Martineau recently commented on gold production at Huanca stating, “Since the beginning of 2016 we have been focused on completing the construction of our new Veta Dorada ore processing plant. Notably, gold production at our other plant, Huanca, remained consistent with prior years. Gold production during the first semester was 33,324 oz., which is within some of the best results we have obtained in the past 5 years (see Table 1, below). Additionally, the increase in the price of gold since the beginning of the year will have a positive effect on gold ore production in Peru, which together with the favorable location of Dynacor’s new Veta Dorada plant, will certainly boost our future results.”
Figure 1. Huanca Ore Processing Facility
Quarterly Gold Production 2012-2016
|Gold Production Q1||13111||20022||12175||15558||15807|
|Gold Production Q2||12392||17899||17608||16594||17525|
|Gold Production Q1+Q2||25503||37921||29783||32152||33332|
|Gold Production Q3||17168||19741||19217||15607||n.a|
|Gold Production Q4||18603||19221||19923||19844||n.a|
|Gold Production Q3+Q4||35771||38962||39140||35451||n.a|
|Total 12 months||61274||76883||68923||67603||n.a|
Figure 2. Huanca Ore Processing Facility
Average Quarterly Gold Production 2012-2016
|Quarter / Years||Average Gold Production (oz)||Average % increase relative to Q1|
|Q1 2012-2016||Average quarterly gold production||15,334 oz||—|
|Q2 2012-2016||Average quarterly gold production||16,402 oz||7,0%|
|Q3 2012-2015||Average quarterly gold production||17,933 oz||16,9%|
|Q4 2012-2015||Average quarterly gold production||19,398 oz||26,5%|
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor’s basic share count at 38.4 million outstanding is in the lowest quartile of the resource sector. The Corporation’s assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation is currently commissioning its new 300 tpd ore processing plant in Chala (Southern Peru) and expects to begin operations during Q3-2016. This new plant represents an important milestone for the Corporation’s future growth. The Corporation’s strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
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)
For more information, please contact: Dynacor Gold Mines Inc.
President and CEO
Dynacor Gold Mines Inc.
#1105-625 Boulevard Rene-Levesque West
Montreal, Quebec H3B 1R2
514-393-9000 Ext. 228
Director, Investor Relations
Dynacor Gold Mines Inc.