Dynacor Gold Mines

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Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and...

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Dynacor Gold Mines

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Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engage......

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3 hours ago

8020 Admin posted a press release Dynacor Boosts Its Purchases of Ore to a Record High in 2019 in DYNACOR GOLD MINES


MONTREAL, Jan. 23, 2020 (GLOBE NEWSWIRE) -- 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, announces fourth quarter and annual 2019 production results.


FOURTH QUARTER AND ANNUAL 2019 GOLD PRODUCTION RESULTS



  • Recorded its best quarterly and annual ore purchase volume;

  • Achieved all-time best quarterly processing average volume of 330 TPD (tonnes per day) and gold production of 24,352 ounces;

  • Full year production of 80,677 ounces of gold, including 46,582 ounces in the second semester surpassing its 2019 revised guidance.


In December, the Corporation recorded its best monthly ore purchase volume and gold production, with purchases of 11,306 tonnes and a production of 8,815 ounces of gold. December gold production volume was 34.9 % higher than the 2019 year to date monthly average.


The Veta-Dorada plant ended 2019 at an all-time high quarterly production level of 330 TPD, processing a total of 98,649 tonnes of gold ore compared to 91,512 tonnes in 2018 an increase of 7.8%. The total volume of ore purchased in 2019 amounted to 105,238 tonnes compared to 90,977 in 2018, an increase of 15.7%.


At the end of 2019, the Corporation had accumulated non-exported production of approximately 8,500 ounces, including a shipment of 2,650 ounces, which was, and is still retained for control procedures by the Peruvian Customs authorities (see press releases 2019-12-27, and 2020-01-16). Exportations have resumed in January 2020.


INCREASES DIVIDEND BY 50% 


The Corporation announced on November 28, 2019, a 50% dividend increase (see press release 2019-11-28), bringing its annual dividend to CA $0.06 per share, which (at the time of this writing) pays a forward yield of 3.5%.


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) 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

For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/5b975f03-bed3-46a5-ae35-3a7852645691 


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8020 Admin

7 days ago

8020 Admin posted a press release Dynacor Resumes Gold Exports From Peru in DYNACOR GOLD MINES


MONTREAL, Jan. 16, 2020 (GLOBE NEWSWIRE) -- 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 its gold exports resume.  


The shipment retained from December 2019 is still under review with Peruvian customs authorities. Following the export retention, the Corporation submitted 7,800 pages of supporting documents. With this, management expects to obtain the final clearance of the one shipment retained in early December. Upon completion of the review, the Corporation will immediately publish a news release informing the market. 


The Corporation continues to operate the mill normally, and in fact, it purchased a record amount of gold ore in December 2019. Final quarterly and year-end production numbers will be made available in the coming days.  


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

For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/3ead6512-d5df-4297-8c2b-101c345e92ee




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8020 Admin

27 days ago

8020 Admin posted a press release Dynacor Reports Peruvian Customs Retain Gold Exports From December in DYNACOR GOLD MINES


MONTREAL, Dec. 27, 2019 (GLOBE NEWSWIRE) -- 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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8020 Admin

2 months ago

8020 Admin posted a press release Dynacor Declares Increased Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce the declaration of an increased dividend payment of CA $0.015 per common share, a 50% increase over the last quarter dividend, which will be payable on January 6th, 2020, to shareholders of record as of the close of business on December 19, 2019. The payment represents the sixth quarterly dividend payment made to shareholders. The Corporation continues to perform well, and this dividend increase reflects its solid cashflows and financial situation consistent with its operating and strategic objectives.


The Corporation’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.


The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.


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 artisanal and small-scale miners (ASM). 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 ASM 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


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/c7f2191e-d8cf-490d-b220-d8296087a9a6


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8020 Admin

2 months ago

8020 Admin posted a press release Dynacor Announces 50% Increase to Its Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 20, 2019 (GLOBE NEWSWIRE) -- 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, announced today that its Board of Directors approved an increase in the Corporation’s quarterly dividend payment to CA $0.015 (annual CA $0.06 per share), a 50% increase.


Today’s announcement marks the first increase in the Corporation’s dividend history, which was launched on October 1, 2018. The decision to increase reflects management’s and the Board’s continued confidence in Dynacor’s select business model, which has proven over the years to deliver consistent earnings and free cash flow. With management’s new optimization strategy in operations steadily improving cost efficiencies, an increase in gold production and a stable or increasing gold price, the year 2020 should see Dynacor improving on its operating cashflows.           


Dynacor has reported profits for 34 consecutive quarters. The Corporation will continue to evaluate its dividend policy as it increases free cash flow and cash balances with the potential for further increases to its dividend. Since launching the first dividend on October 1, 2018, the Corporation has paid to shareholders five cash instalments amounting to CA $0.05 per common share.


The payment or increase of dividends is at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.       


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 artisanal and small-scale miners (ASM. 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 ASM 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


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com  


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8020 Admin

2 months ago

8020 Admin posted a press release Q3-2019: Dynacor Processes Record Volumes and Triples its Net Earnings in DYNACOR GOLD MINES

MONTREAL, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation), reports its financial results for its third quarter ended September 30, 2019.


The unaudited condensed consolidated financial statements and the management's discussion and analysis (MD&A) for the three-month and nine-month periods ended September 30, 2019, have been filed electronically with SEDAR at www.sedar.com and will be available on the Corporation's website www.dynacor.com.


(All figures in this press release are in millions of US$ unless stated otherwise. Earnings per share and cash flow per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).


For the three-month period ended September 30, 2019, Dynacor processed quarterly record volumes and completed its thirty fourth (34th) consecutive quarter of profits tripling its net income to $2.3 M ($0.06 per share), compared to $0.7 M ($0.02 per share) for the same period of 2018.


Q3-2019 OVERVIEW AND HIGHLIGHTS


Total tonnes processed during the quarter increased by 16.8% from 22,615 in Q3-2018 to 26,421 in Q3-2019. At the same time, gold production increased by 11.3% from 19,982 to 22,230 ounces. The variance is mainly due to lower grades of the ore processed compared to 2018. This level of production represents approximately 50% of the revised production guideline for the second half of 2019 (ref. press release dated August 15, 2019). For the first time, production exceeded the daily named capacity of 300 tpd maintaining an average of 318 tpd (1) in September. In Q3-2019, the Corporation also increased its level of ore inventory to approximately 15 days of production at the end of September. The target is to continue increasing this level until the end of the year in order to mitigate the negative effects of the rainy season on the 2020 first quarter supply.


(1) Considering 1.5 days of programmed monthly maintenance

Operational and Strategic



  • Record quarterly volume of ore processed of 26,421 tonnes in Q3-2019 compared to 22,615 tonnes in Q3-2018;

  • Gold production of 22,230 ounces in Q3-2019 compared to 19,982 ounces in Q3-2018, an increase of 11.3%.


Financial



  • 34th consecutive quarter of profits;

  • Record quarterly sales of $33.7 M in Q3-2019, a significant increase of 38.1% compared to Q3-2018;

  • Gross operating margin of $4.6 M (13.7%) in Q3-2019, a significant increase of 76.9% compared to Q3-2018;

  • Net income of $2.3 M in Q3-2019 ($0.06 per share), an increase of $1.6 M compared to Q3-2018;

  • Cash gross operating margin of $227 per ounce equivalent Au sold (1) compared to $158 per ounce equivalent Au sold in Q3-2018;

  • EBITDA (2) of $4.1 M in Q3-2019, an increase of $2.1 M compared to Q3-2018;

  • Cash flow from operating activities before change in working capital items of $3.0 M and $0.08 per share (3) in Q3-2019, compared to $1.6 M and $0.04 per share in Q3-2018;

  • Cash on hand of $12.2 M in Q3-2019 compared with $13.9 million at year-end 2018 mainly due to the increase in working capital items including a September 30th sale collected on October 1st 2019 for $3.3 M and an increased level of mineral in inventory.


Cash Return to Shareholders



  • Quarterly dividend of CA$0.01 per share and totaling $0.3 M (CA$0.4 M) paid in October 2019;

  • Buyback of 164,349 shares during the quarter for $0.2 M (CA$0.3 M).


(1) Cash gross operating margin per equivalent ounce Au is calculated by subtracting the average cash cost of sale per equivalent ounces of Au from the average selling price per equivalent ounces of Au and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.


(2) EBITDA: “Earnings before interest, taxes and depreciation” is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets bases, effects due to different tax structures as well as the effects of different capital structures.


(3) Cash-flow per share is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.








RESULTS FROM OPERATIONS

Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=DNG%3ACA&qmodStoryID=6030591062656150 

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Dynacor Gold Mines

lockPrivate Group

Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and...

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Corporate Profile
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Dynacor Gold Mines

lockPrivateGroup

Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engage......

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8020 Admin

3 hours ago

8020 Admin posted a press release Dynacor Boosts Its Purchases of Ore to a Record High in 2019 in DYNACOR GOLD MINES


MONTREAL, Jan. 23, 2020 (GLOBE NEWSWIRE) -- 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, announces fourth quarter and annual 2019 production results.


FOURTH QUARTER AND ANNUAL 2019 GOLD PRODUCTION RESULTS



  • Recorded its best quarterly and annual ore purchase volume;

  • Achieved all-time best quarterly processing average volume of 330 TPD (tonnes per day) and gold production of 24,352 ounces;

  • Full year production of 80,677 ounces of gold, including 46,582 ounces in the second semester surpassing its 2019 revised guidance.


In December, the Corporation recorded its best monthly ore purchase volume and gold production, with purchases of 11,306 tonnes and a production of 8,815 ounces of gold. December gold production volume was 34.9 % higher than the 2019 year to date monthly average.


The Veta-Dorada plant ended 2019 at an all-time high quarterly production level of 330 TPD, processing a total of 98,649 tonnes of gold ore compared to 91,512 tonnes in 2018 an increase of 7.8%. The total volume of ore purchased in 2019 amounted to 105,238 tonnes compared to 90,977 in 2018, an increase of 15.7%.


At the end of 2019, the Corporation had accumulated non-exported production of approximately 8,500 ounces, including a shipment of 2,650 ounces, which was, and is still retained for control procedures by the Peruvian Customs authorities (see press releases 2019-12-27, and 2020-01-16). Exportations have resumed in January 2020.


INCREASES DIVIDEND BY 50% 


The Corporation announced on November 28, 2019, a 50% dividend increase (see press release 2019-11-28), bringing its annual dividend to CA $0.06 per share, which (at the time of this writing) pays a forward yield of 3.5%.


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) 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

For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/5b975f03-bed3-46a5-ae35-3a7852645691 


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8020 Admin

7 days ago

8020 Admin posted a press release Dynacor Resumes Gold Exports From Peru in DYNACOR GOLD MINES


MONTREAL, Jan. 16, 2020 (GLOBE NEWSWIRE) -- 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 its gold exports resume.  


The shipment retained from December 2019 is still under review with Peruvian customs authorities. Following the export retention, the Corporation submitted 7,800 pages of supporting documents. With this, management expects to obtain the final clearance of the one shipment retained in early December. Upon completion of the review, the Corporation will immediately publish a news release informing the market. 


The Corporation continues to operate the mill normally, and in fact, it purchased a record amount of gold ore in December 2019. Final quarterly and year-end production numbers will be made available in the coming days.  


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

For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393-9000 (extension 230)
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/3ead6512-d5df-4297-8c2b-101c345e92ee




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8020 Admin

27 days ago

8020 Admin posted a press release Dynacor Reports Peruvian Customs Retain Gold Exports From December in DYNACOR GOLD MINES


MONTREAL, Dec. 27, 2019 (GLOBE NEWSWIRE) -- 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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8020 Admin

2 months ago

8020 Admin posted a press release Dynacor Declares Increased Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce the declaration of an increased dividend payment of CA $0.015 per common share, a 50% increase over the last quarter dividend, which will be payable on January 6th, 2020, to shareholders of record as of the close of business on December 19, 2019. The payment represents the sixth quarterly dividend payment made to shareholders. The Corporation continues to perform well, and this dividend increase reflects its solid cashflows and financial situation consistent with its operating and strategic objectives.


The Corporation’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.


The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.


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 artisanal and small-scale miners (ASM). 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 ASM 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


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/c7f2191e-d8cf-490d-b220-d8296087a9a6


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8020 Admin

2 months ago

8020 Admin posted a press release Dynacor Announces 50% Increase to Its Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 20, 2019 (GLOBE NEWSWIRE) -- 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, announced today that its Board of Directors approved an increase in the Corporation’s quarterly dividend payment to CA $0.015 (annual CA $0.06 per share), a 50% increase.


Today’s announcement marks the first increase in the Corporation’s dividend history, which was launched on October 1, 2018. The decision to increase reflects management’s and the Board’s continued confidence in Dynacor’s select business model, which has proven over the years to deliver consistent earnings and free cash flow. With management’s new optimization strategy in operations steadily improving cost efficiencies, an increase in gold production and a stable or increasing gold price, the year 2020 should see Dynacor improving on its operating cashflows.           


Dynacor has reported profits for 34 consecutive quarters. The Corporation will continue to evaluate its dividend policy as it increases free cash flow and cash balances with the potential for further increases to its dividend. Since launching the first dividend on October 1, 2018, the Corporation has paid to shareholders five cash instalments amounting to CA $0.05 per common share.


The payment or increase of dividends is at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.       


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 artisanal and small-scale miners (ASM. 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 ASM 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


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com  


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8020 Admin

2 months ago

8020 Admin posted a press release Q3-2019: Dynacor Processes Record Volumes and Triples its Net Earnings in DYNACOR GOLD MINES

MONTREAL, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation), reports its financial results for its third quarter ended September 30, 2019.


The unaudited condensed consolidated financial statements and the management's discussion and analysis (MD&A) for the three-month and nine-month periods ended September 30, 2019, have been filed electronically with SEDAR at www.sedar.com and will be available on the Corporation's website www.dynacor.com.


(All figures in this press release are in millions of US$ unless stated otherwise. Earnings per share and cash flow per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).


For the three-month period ended September 30, 2019, Dynacor processed quarterly record volumes and completed its thirty fourth (34th) consecutive quarter of profits tripling its net income to $2.3 M ($0.06 per share), compared to $0.7 M ($0.02 per share) for the same period of 2018.


Q3-2019 OVERVIEW AND HIGHLIGHTS


Total tonnes processed during the quarter increased by 16.8% from 22,615 in Q3-2018 to 26,421 in Q3-2019. At the same time, gold production increased by 11.3% from 19,982 to 22,230 ounces. The variance is mainly due to lower grades of the ore processed compared to 2018. This level of production represents approximately 50% of the revised production guideline for the second half of 2019 (ref. press release dated August 15, 2019). For the first time, production exceeded the daily named capacity of 300 tpd maintaining an average of 318 tpd (1) in September. In Q3-2019, the Corporation also increased its level of ore inventory to approximately 15 days of production at the end of September. The target is to continue increasing this level until the end of the year in order to mitigate the negative effects of the rainy season on the 2020 first quarter supply.


(1) Considering 1.5 days of programmed monthly maintenance

Operational and Strategic



  • Record quarterly volume of ore processed of 26,421 tonnes in Q3-2019 compared to 22,615 tonnes in Q3-2018;

  • Gold production of 22,230 ounces in Q3-2019 compared to 19,982 ounces in Q3-2018, an increase of 11.3%.


Financial



  • 34th consecutive quarter of profits;

  • Record quarterly sales of $33.7 M in Q3-2019, a significant increase of 38.1% compared to Q3-2018;

  • Gross operating margin of $4.6 M (13.7%) in Q3-2019, a significant increase of 76.9% compared to Q3-2018;

  • Net income of $2.3 M in Q3-2019 ($0.06 per share), an increase of $1.6 M compared to Q3-2018;

  • Cash gross operating margin of $227 per ounce equivalent Au sold (1) compared to $158 per ounce equivalent Au sold in Q3-2018;

  • EBITDA (2) of $4.1 M in Q3-2019, an increase of $2.1 M compared to Q3-2018;

  • Cash flow from operating activities before change in working capital items of $3.0 M and $0.08 per share (3) in Q3-2019, compared to $1.6 M and $0.04 per share in Q3-2018;

  • Cash on hand of $12.2 M in Q3-2019 compared with $13.9 million at year-end 2018 mainly due to the increase in working capital items including a September 30th sale collected on October 1st 2019 for $3.3 M and an increased level of mineral in inventory.


Cash Return to Shareholders



  • Quarterly dividend of CA$0.01 per share and totaling $0.3 M (CA$0.4 M) paid in October 2019;

  • Buyback of 164,349 shares during the quarter for $0.2 M (CA$0.3 M).


(1) Cash gross operating margin per equivalent ounce Au is calculated by subtracting the average cash cost of sale per equivalent ounces of Au from the average selling price per equivalent ounces of Au and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.


(2) EBITDA: “Earnings before interest, taxes and depreciation” is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets bases, effects due to different tax structures as well as the effects of different capital structures.


(3) Cash-flow per share is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.








RESULTS FROM OPERATIONS

Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=DNG%3ACA&qmodStoryID=6030591062656150 

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