InvestmentPitch Media Video Discusses Dynacor Group’s Expansion of its Veta Dorada Plant’s Gold Ore Processing Capacity to 500 tpd in Peru

Rhea-AI Summary

Dynacor Group has successfully expanded its gold ore-processing plant in Peru, increasing capacity by 16% to 500 tonnes per day. This follows a previous 25% increase in mid-2021. The company is now among Peru's top nine gold exporters, with over 9,000 tonnes of ore inventory, enough for 20 days of production. The total investment for the expansion was $0.8 million, enhancing various operational aspects. CEO Jean Martineau noted a rising demand from artisanal miners, supported by the formalization of small-scale mining in Peru.

Positive

• Increased processing capacity to 500 tonnes per day, up 16%.
• Investment of $0.8 million for plant expansion and operational improvements.
• Over 9,000 tonnes of ore inventory, enabling sustained production.

Negative

• None.

VANCOUVER, British Columbia, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Group Inc (TSX:DNG), a dividend-paying international industrial gold ore processor, has completed the expansion of its plant processing capacity at its plant in Peru. The new plant expansion has increased gold ore-processing capacity to 500 tonnes per day, an additional 16% following the 25% increase completed in mid-2021.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Dynacor” in the search box.

Dynacor purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru.

The Veta Dorada plant has been steadily increasing its daily output over the last number of years, allowing Dynacor, through its Peruvian subsidiary, to become the ninth largest gold exporter in Peru for the first nine months of 2022. The total 2022 investment for this expansion amounted to approximately $0.8 million in areas including crushing, milling, desorption, laboratory, and transport.

The company’s growing ASM producer network and ore supplied contributed to the increase in the company’s ore inventory level in the last few months to over 9,000 tonnes at the end of September, representing twenty days of production at its previous processing capacity of 430 tpd. Dynacor's inventory continued to build up in October, while management estimates more than 13,000 tonnes of ore to be processed in November, a new monthly record high.

Jean Martineau, President and CEO, stated: "We continue to see increasing demand for growth from our network of ASM gold producers, and we expect this to continue, driven by more ASMs in Peru advancing through the formalization process. Dynacor Group is prepared to meet this growing demand with Veta Dorada, one of the largest ASM ore processing plants in Peru."

The company owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department. It also intends to expand its processing operations in other jurisdictions.

Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities.

The shares are currently trading at $2.60, with 38.6 million shares outstanding. For more information, please visit the company’s website www.dynacor.com, or contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Dynacor Gold Mines has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is Dynacor Group's processing capacity after the expansion?

The company's processing capacity has increased to 500 tonnes per day.

How much did Dynacor invest in the plant expansion?

Dynacor invested approximately $0.8 million in the plant expansion.

What rank does Dynacor hold among gold exporters in Peru?

Dynacor is currently the ninth largest gold exporter in Peru.

What is the ore inventory level for Dynacor as of September 2022?

Dynacor's ore inventory exceeded 9,000 tonnes at the end of September 2022.

What is the current share price of Dynacor Group?

Dynacor shares are currently trading at $2.60.