Dynacor Reports Peruvian Customs Retain Gold Exports From December
December 27 2019 - 8:00AM
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, reports today that the Peruvian customs authorities
are retaining shipments of December gold exports for control
procedures. Authorities have retained exports and requested from at
least three gold exporting companies, including Dynacor, to submit
supporting documents relating to their gold production.
Management expects the review to be favourable
and its exports of gold to immediately resume upon clearance from
the authorities. Notwithstanding the current situation, the
Corporation has continued to operate normally; however, it doesn't
anticipate generating any income from exports of gold in December.
The Corporation will issue updates on any additional information
concerning the status of its retained export.
Recent Gold
Production
In October and November 2019, the Corporation
processed a monthly average exceeding 9,500 DMT of ore and produced
a total of 15,500 ounces of gold. With an estimated gold production
to exceed 8,000 ounces in December, Dynacor expects a record gold
production of approximately 45,500 ounces for the last semester of
2019, in the high range of our revised 2019 second half gold
production target of 44,000 to 46,000 ounces. A full report on the
fourth-quarter production will be issued as soon as all data are
available in January 2020.
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
small scale artisanal miners. At present, Dynacor produces and
explores in Peru where its management team has decades of
experience and expertise. In 2018, Dynacor produced 81,314 ounces
of gold, a yearly best and 1.8% increase as compared with 2017
(79,897 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)
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold
PDF
available: http://ml.globenewswire.com/Resource/Download/353acb48-d7bd-443a-827b-3ac9b763ac3e
For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E: investors@dynacor.com
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