Mr. Dale Nejmeldeen reports
DYNACOR REPORTS PERUVIAN CUSTOMS RETAIN GOLD EXPORTS FROM DECEMBER
The Peruvian customs authorities are retaining shipments of Dynacor Gold Mines Inc.'s 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 does not 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 dry metric tonnes (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 its 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 Gold Mines Inc.
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-per-cent increase as compared with 2017 (79,897 ounces).
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