PERU TAKES PRO-ACTIVE MEASURES TO CONTAIN COVID-19 CORONAVIRUS
March 18 2020 - 8:25AM
Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or
the "Corporation"), an international leading ore
purchasing and processing corporation servicing artisanal and
small-scale miners (ASM) provides an update. The Peruvian
government recently declared a state of emergency due to the
outbreak of the COVID-19, coronavirus.
As of March 16, 2020, the Peruvian authorities
are restricting non-essential transportation and travel within the
country in addition to declaring a 15-day quarantine whereby all
citizens are to stay and work from home if possible. The
restriction includes a halt to all interprovincial transportation,
as well as passenger domestic and international flights. All
Medical facilities, pharmacies, food markets, gas stations and
banks will be exempt from the temporary quarantine and will remain
open during this time.
In full compliance with the Peruvian
government's 15-day quarantine order, the Corporation has closed
its Veta Dorada offices throughout the country. During this period,
the Corporation will halt all ore-purchases and production as per
the government's state of emergency measures and declaration. Upon
the government lifting the state of emergency restrictions, Dynacor
will immediately resume its ore-purchasing and processing
operation.
Jean Martineau, president and chief executive
officer of Dynacor, commented: "The health and safety of our entire
staff are first and foremost. Dynacor employs a full team of the
medical staff at the Veta Dorada plant in Chala and, at this time,
confirms there are no COVID-19 related cases. The Peruvian
government's pro-active measures to contain the novel COVID-19,
coronavirus is in full accordance with our Corporation's actions
and measures to protect and maintain the health and safety of our
staff at all times."
Dividend
The Corporation is free of debt and in a healthy
financial situation. The temporary halt to operations will not
affect Dynacor's dividend of 1.5 cents per common share scheduled
to be paid on April 2, 2020, to shareholders of record as of the
close of business on March 19, 2020. This dividend will represent
the seventh quarterly dividend payment made to shareholders.
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).
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/eadd8a5f-2b2a-4de0-af1d-534e32836a25
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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