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Dynacor Gold completes plant expansion, increasing ore throughput by 16% to record level of 400 tpd at Veta Dorada plant in Peru

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As the mill continues to run through tests and operate effectively, Dynacor expects to achieve throughput levels of 430 tonnes per day in July, a minimum 25% increase over May’s throughput.

Additional Information:

Company: Dynacor Gold Mines
Website: http://www.dynacor.com
Stock Symbol: TSX: DNG
Date Published: Jun 23, 2021
Transcript: Available

Video Transcript:

I’m Ashton Addison for Investmentpitch Media

Montreal-based Dynacor Gold Mines has completed the expansion of its Veta Dorada ore processing plant in Peru.

On June 15, construction and installation of the expansion equipment was completed.

Over the following 5 days, the company tested and fine-tuned all the equipment, including the three ball mills, with the new agitation tank, ball mill, pump, piping and other related equipment all passing quality assurance tests.

On June 21, the entire mill was operating with ore at a new all-time high rate of 400 tonnes per day, a 16% increase from the 345 tonnes per day processed in May.

As the mill continues to run through tests and operate effectively, Dynacor expects to achieve throughput levels of 430 tonnes per day in July, a minimum 25% increase over May’s throughput.

This expansion of the Veta Dorada plant, budgeted at $1.8 million, and funded through internally generated cash flow, was completed both on schedule and on budget.

Jean Martineau, President and CEO, stated: "The completion of our new expansion is another step to meeting our strategic milestone of growing the company's gold sales to record levels. As we continue to see a surge in demand for our services from the ASM gold ore industry, Dynacor is poised for continued increases in throughput levels worldwide."

Strategically located minutes off the Pan American Highway in Peru, Dynacor is a significant processor of gold ore purchased from artisanal miners and the small-scale mining industry or “ASM” in Peru.

Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsive 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.

With decades of experience in Peru, the company intends to expand its processing operations to other jurisdictions.

It also owns the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.

The company recently increased its dividend by 33% to approximately CDN$0.08 annually, which is paid on a monthly basis.

The shares are trading at $2.47.

For more information, please refer to the company’s news release, 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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I’m Ashton Addison for Investmentpitch Media