Dynacor Produces 20,610 Ounces of Gold in Q2-2018
MONTREAL, July 25, 2018 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX:DNG) (OTC:DNGDF) (Dynacor or the Corporation) is pleased to report its June 2018 and Q2-2018 gold production.
In June 2018, the Corporation produced 6,733oz of gold at its Veta Dorada plant(see Figure 1) while its plant operated at an average daily processing rate of 278 tonnes per day.
For the second quarter of 2018, gold production amounted to 20,610oz, slightly below management’s forecast of 22,150 oz due mainly to lower grade material provided to the plant. However, this total production represents an increase of 13.3 % over the same period of last year (18,188 oz) and an increase of 17.6 % compared to 2016 (17,524 oz).
The Veta Dorada plant processed 7,909 dry metric tonnes (DMT) of material in June and a cumulative 23,172 DMT in the second quarter of 2018 compared to 6,012 DMT and a cumulative 16,311 DMT in the same periods last year, representing an increase of 31.6% and 42.0% respectively.
Historically, production in the 3rd and 4th quarters has always been higher than in the first and second quarters of each year. For instance in 2017, production in Q3 was 20,521oz and in Q4 reached 24,066oz whereas in the first and 2nd quarters production was 17,122 and 18,188, respectively. The Corporation is continuing to ramp up production on a quarterly basis with forecast of 23,900 ounces of gold in the third quarter 2018, on its way to its annual production guidance of 90-94,000 ounces. (see Figure 2)
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Figure 1 – http://www.globenewswire.com/NewsRoom/AttachmentNg/2f7916bc-a059-4525-8192-8a500dcbbb85
Figure 2 – http://www.globenewswire.com/NewsRoom/AttachmentNg/ebcae1c0-235a-473e-baec-584b1afbbeb1
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2017, Dynacor produced 79,897 ounces of gold, a 9% increase as compared with 2016 (73,477 ounces). Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).
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)
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For more information, please contact: Dynacor Gold Mines Inc.
| Jean Martineau President and CEO #1105, 625 René-Lévesque Blvd. Dynacor Gold Mines Inc. Montreal, Quebec H3B 1R2 T: 514-393-9000 ext. 228 |
Dale Nejmeldeen Director, Investor Relations Dynacor Gold Mines Inc. T: 604.492.0099 | M: 604.562.1348 E: nejmeldeen@dynacor.com |