Mr. Dale Nejmeldeen reports
DYNACOR BOOSTS ITS PURCHASES OF ORE TO A RECORD HIGH IN 2019
Dynacor Gold Mines Inc. has provided its 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 production of 8,815 ounces of gold. December gold production volume was 34.9 per cent 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 with 91,512 tonnes in 2018, an increase of 7.8 per cent. The total volume of ore purchased in 2019 amounted to 105,238 tonnes compared with 90,977 in 2018, an increase of 15.7 per cent.
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 Dec. 27, 2019, and Jan. 16, 2020). Exportations resumed in January, 2020.
Increases dividend by 50 per cent
The corporation announced on Nov. 28, 2019, a 50-per-cent dividend increase, bringing its annual dividend to six cents per share, which (at the time of this writing) pays a forward yield of 3.5 per cent.
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 the ASM (artisanal and small-scale mining) industry.
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