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Message: Dynacor Reports FY 2019 Production Results


2020-01-23 08:39:58 AM ET (MT Newswires)

08:39 AM EST, 01/23/2020 (MT Newswires) -- Dynacor Gold Mines Inc. (DNG.TO) today announced its Q4 and FY 2019 production results.

The company says it achieved its all-time best quarterly processing average volume of 330 TPD (tonnes per day) and gold production of 24,352 ounces during the fourth quarter.

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

In December, Dynacor 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 also 34.9 % higher than the 2019 year to date monthly average.

The Veta-Dorada plant ended 2019 at a record 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, Dynacor 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. Exportations have resumed in January 2020.

Dynacor also announced on November 28, 2019, a 50% dividend increase, bringing its annual dividend to $0.06 per share, which pays a forward yield of 3.5%.

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