Send PM
Followers 9
Posts 2474
Boards Moderated 0
Alias Born 09/21/2009

Re: None

Saturday, 08/31/2013 5:59:54 PM

Saturday, August 31, 2013 5:59:54 PM

Post# of 29
PRESS RELEASE August 30, 2013, 9:43 a.m. ET

Dynacor Increases Its 2013 Gold Production Guidance to 71,000 oz.

Dynacor Increases Its 2013 Gold Production Guidance to 71,000 oz.

MONTREAL, QUEBEC--(Marketwired - Aug. 30, 2013) - Dynacor Gold Mines Inc. (TSX:DNG) (Dynacor or the Company), a company with gold and silver ore processing operations and exploration projects in Peru, is pleased to announce that it has increased its 2013 gold production guidance to 71,000 ounces up from 66,000 ounces an increase of 7.5%.

July Production

During July 2013, gold production at Dynacor's Huanca ore-processing plant reached 6,460 ounces of gold an increase of 13.3% as compared to July 2012 (5,701 oz.). Also in July, the plant produced 12,526 ounces of silver. As of July 31, 2013 Dynacor has produced 44,381 ounces of gold compared to 31,203 oz as of July 31, 2012, an increase of 42.2%.

Process Optimization

During Q2-2013, Dynacor's process engineers have been working on the Huanca mill and have implemented a series of changes that have led to further process optimization. These measures that required a minimal investment have allowed the Company to increase its ore processing rate by 5% to 230 tpd and the plant is currently running at this capacity.

From January to June 2013, Dynacor has been able to purchase and process exceptionally high grade ores which averaged over 1.07 oz/t well above the forecasted 2013 ore grade of 0.88 oz/t. In July 2013, the Company processed 6,778 DMT of high grade ore with an average grade of 1.01 oz/t and despite a lower price of gold on the world market there was no decrease in the availability of ore. Therefore, considering the first seven months of gold production and the increase in the plant's milling capacity, the Company has increased its 2013 production guidance to 71,000 ounces of gold. This new conservative target assumes that for the rest of 2013 purchased ore grades will probably revert to the forecasted ore grade of 0.88 oz/t Au.

Jean Martineau, President and CEO of Dynacor stated "Despite the difficult overall operating environment for gold companies worldwide, our gold and silver processing division continues to exceed our targets and has allowed us to increase our gold production guidance for 2013 from 66,000 oz. to 71,000 oz. I would like to acknowledge the dedication and expertise of our employees in Peru who have made this possible.

ABOUT DYNACOR GOLD MINES INC.

Dynacor is an ore processing and 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 five exploration properties, including the Tumipampa property, as well as its 230 tpd gold and silver ore processing mill at Huanca. Dynacor's mill produces gold from the processing of ore purchased from many different ore suppliers. 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/DynacorGoldMines

Shares outstanding: 36,316,111

Dynacor Gold Mines Inc.

Jean Martineau

President and CEO

514-393-9000 ext. 228

Dynacor Gold Mines Inc.

Dale Nejmeldeen

Investor Relations

604.492.0099 / M: 604.562.1348

nejmeldeen@dynacor.com

www.dynacorgold.com

http://online.wsj.com/article/PR-CO-20130830-907867.html

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
Recent DNGDF News

FEATURED Electromedical Update: Strong Q3 Sales Momentum, New Financing , Improved Supply Chain, Expanding Product Development and Production. Oct 6, 2022 7:21 AM

Progressive Care Subsidiary ClearMetrX Launches 340MetrX Platform to Help Streamline 340B Program and Increase Claim Capture RXMD Oct 6, 2022 8:20 AM

Laser Photonics Highlights Key Investment Points for New Investors LASE Oct 6, 2022 7:05 AM

Nextech AR Reports Q3 3D-Model Production Jumps 110% and Sees Strong Continued Demand in Q4 NTAR Oct 5, 2022 10:00 AM

Memorandum of Understanding Signed by Miranda Water Treatment Systems and Rainmaker Worldwide Inc. RAKR Oct 5, 2022 9:02 AM

Trend Innovations Holding Inc. completes Thy News localization testing successfully TREN Oct 5, 2022 9:00 AM

Branded Legacy, Inc. Acquires Alpha Growers, LLC and Adds $320,000 in Assets BLEG Oct 5, 2022 8:45 AM

Glitzy LA luxury private cigar club planned for two blocks from the Walt Disney Concert Hall Oct 4, 2022 6:15 PM

'Posh' brand funding round for all things cannabis kicks off with S.E.C. enrollment for capital raise Oct 4, 2022 5:38 PM

NFL Great, Drew Brees, to Team with Splash Beverage Corp to Promote TapouT Performance Drink SBEV Oct 4, 2022 12:34 PM

Good Gaming Inc. Announces Its Reveal Event For The Water Bear PFP, The First of Ten Species That Make Up The Genesis Collections And Their Cross Platform "Buddyverse" GMER Oct 4, 2022 9:15 AM

Quinting - a luxury Swiss watch brand partners Coinllectibles to launch Digital Ownership Tokens (DOTs) valued at more than US$450,000 at the Global Web 5.0 Conference in Singapore on 1 Nov 2022 COSG Oct 4, 2022 8:03 AM

Swifty Global Gets Swifty Gaming Off to a Flying Start and Updates its Annual Revenue Target DRCR Oct 3, 2022 10:29 AM

Branded Legacy, Inc. Products Now Featured in New Brick and Mortar Location BLEG Oct 3, 2022 9:26 AM

TNS Reports, These Four Stocks have New Developments that Could Equate to Big Catalysts INND Oct 3, 2022 8:14 AM