Dynacor Receives a Permit to Increase Production Capacity by 20% at Its Metallex (Huanca) Gold Processing Plant
MONTREAL, QUEBEC–(Marketwired – April 15, 2015) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) a Corporation with gold ore processing operations and exploration projects in Peru, is pleased to announce it has just obtained the expansion permit for its 100% owned gold ore-processing Metallex plant located in Huanca, Peru. The permit has been issued by the Ministry of Energy and Mines (MEM) in Lima and allows Dynacor to operate the plant at 102,000 tonnes per year (300 tonnes per day) up from the current 85,000 tonnes per year (250 tonnes per day), a 20% increase.
The upgrading process should be completed by the beginning of the next quarter at a cost of approximately $200,000. The Company will increase its ore-purchases thereafter and assuming a gradual rise in inventory expects to further boost its gold production in the second half of this year.
Construction of Dynacor’s second gold ore-processing mill, the Veta Dorado (Chala) facility will begin shortly now that the permit has been issued (see news release dated March 18, 2015). This plant has been designed to process an initial 102,000 tonnes per year (300 tonnes per day) and can be readily expanded to 204,000 tonnes per year (600 tonnes per day).
Jean Martineau, Dynacor’s President and CEO, stated “As of today, Dynacor’s total permitted capacity of 204,000 tonnes per year (600 tonnes per day) places the Company at the forefront of the gold ore-processing sector in Peru. We are currently evaluating the feasibility of operating the Veta Dorada (Chala) and the Metallex (Huanca) plants simultaneously. This would enable Dynacor to fast track another substantial increase in production in 2016. Furthermore, our Company will have a clear advantage in the marketplace as compared to its competitors since its will have two fully permitted mills”
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 36.2 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 Huanca. The Corporation recently obtained its permit to construct a brand new 300 tpd mill in Chala Peru. This 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.
Shares outstanding: 36,295,111
Dynacor Gold Mines Inc. (TSX:DNG)
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 ext. 228
Dynacor Gold Mines Inc.