Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (111392)	3/19/2015 9:13:02 PM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Dynacor Obtains Final Construction Permit for Its New Gold Ore-Processing Plant in Chala finance.yahoo.com Dynacor Gold Mines Inc. March 18, 2015 7:00 AM MONTREAL, QUEBEC--(Marketwired - Mar 18, 2015) - Dynacor Gold Mines Inc. ( DNG.TO)( DNGDF) (Dynacor or the Company) a Company with gold ore-processing operations and exploration projects in Peru, is pleased to announce it has just obtained the construction permit for its new gold ore processing plant in Chala (Southern Peru). The construction permit has been issued by the Ministry of Energy and Mines (MEM) in Lima which regulates medium and large scale (capacity >350 tpd) mining operations throughout Peru. The Company is currently commissioning the best construction companies with the required experience and track record. The new plant will have an initial ore processing capacity of 300-tpd (102,000 t/y). The Chala plant has been designed to be readily expanded to 450-tpd (153,000 t/y) and then to 600-tpd (204,000 t/y) by adding additional processing lines and ball mills. The Chala facility will be built on a 135-hectare site that is part of a 200-hectare mining concession which was purchased by Dynacor in March 2011. This concession is located in the Department of Arequipa, District of Chala, in the heart of one of the most productive gold mining regions of Peru. The total construction cost has been estimated at10-million USD and will be entirely financed internally. The above mentioned total cost includes USD 2.3 million that has already been spent on general infrastructure and equipment, including: A 5 km hardened road connecting the site to the Pan-American South highway; A power line connected to the National Power grid; Water wells and water storage tanks as well as a pumping station; A perimeter security fence and gate; Housing facilities for the company's employees and construction crews; and Milling heavy equipment including two 7'x8' ball mills that have already been tested at the Huanca mill. Dynacor expects to process in excess of 102,000 tonnes of purchase ore per year at its new facility in Chala, compared to a processing capacity of 85,000 t/y in Huanca. The Company is very pleased that despite the difficult operational climate for most junior mining companies, its auto-financing business model has allowed the Company to finance the expansion of its gold processing operations and the ongoing exploration of its mining properties. Finally, Dynacor's management wishes to underline that it carefully selected the Chala site and that it is an ideal location for Dynacor's new gold ore processing plant since it: offers easy highway access for ore producers from all over Peru; has ample space for tailing ponds for many years and a favorable climate; offers access to the Peruvian national grid; and is located in a mining friendly region. We expect that The Company's new gold processing plant at Chala will create value for our shareholders for many years since it will benefit from increased production volume and reduced operating costs. ABOUT DYNACOR GOLD MINES INC. Dynacor is a gold ore-processing and exploration company active in Peru since 1996. The Company differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor's basic share count at 36.2 million outstanding is in the lowest quartile of the resource sector. The Company's assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Huanca. The Company's strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities. FORWARD-LOOKING INFORMATION Certain statements in the foregoing 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 Gold Mines Inc. ( DNG.TO) Website: dynacor.com Twitter: twitter.com Facebook: facebook.com Shares outstanding: 36 245 111 Contact: Jean Martineau President and CEO Dynacor Gold Mines Inc. 514-393-9000 Ext. 228 Dale Nejmeldeen Investor Relations Dynacor Gold Mines Inc. 604.492.0099 or M: 604.562.1348 604.608.9223 nejmeldeen@dynacor.com