Dynacor Boosts Its Purchases of Ore to a Record High in 2019
MONTREAL, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the "Corporation"), a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, announces fourth quarter and annual 2019 production results.
FOURTH QUARTER AND ANNUAL 2019 GOLD PRODUCTION RESULTS
- Recorded its best quarterly and annual ore purchase volume;
- Achieved all-time best quarterly processing average volume of 330 TPD (tonnes per day) and gold production of 24,352 ounces;
- Full year production of 80,677 ounces of gold, including 46,582 ounces in the second semester surpassing its 2019 revised guidance.
In December, the Corporation recorded its best monthly ore purchase volume and gold production, with purchases of 11,306 tonnes and a production of 8,815 ounces of gold. December gold production volume was 34.9 % higher than the 2019 year to date monthly average.
The Veta-Dorada plant ended 2019 at an all-time high quarterly production level of 330 TPD, processing a total of 98,649 tonnes of gold ore compared to 91,512 tonnes in 2018 an increase of 7.8%. The total volume of ore purchased in 2019 amounted to 105,238 tonnes compared to 90,977 in 2018, an increase of 15.7%.
At the end of 2019, the Corporation had accumulated non-exported production of approximately 8,500 ounces, including a shipment of 2,650 ounces, which was, and is still retained for control procedures by the Peruvian Customs authorities (see press releases 2019-12-27, and 2020-01-16). Exportations have resumed in January 2020.
INCREASES DIVIDEND BY 50%
The Corporation announced on November 28, 2019, a 50% dividend increase (see press release 2019-11-28), bringing its annual dividend to CA $0.06 per share, which (at the time of this writing) pays a forward yield of 3.5%.
ABOUT DYNACOR
Dynacor is a dividend-paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor produces and explores in Peru, where its management team has decades of experience and expertise. In 2019, Dynacor produced 80,677 ounces of gold, in line with 2018 (81,314 ounces).
Dynacor produces environmental and socially responsible gold through its PX IMPACT® gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects to our small-scale artisanal miner's communities.
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 preceding 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 (TSX: DNG / OTC: DNGDF)
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For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E:
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