(DMM.TO, DMMIF)
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the exploration,
development and production of gold and silver at 3 projects in Ecuador.
6 million ounces of gold and 27 million ounces of silver in 43-101 compliant resources
Company web site :
dynastymining.com
Corporate presentation : (Last available)
dynastymining.com
Zaruma Project :
Mill capable of processing in excess of 1,200 tpd in current configuration with potential to increase
to 2,400 tpd with minimal (US$3 million) capital investment. Production suspended at Cabo de Hornos mine.
Mill currently being fed with material from Dynasty Goldfields project.
Measured Resource : 1,590,000 tonnes, grade 13.48 gpt au : 689,000 oz au
Indicated Resource : 1,030,000 tonnes, grade 12.18 gpt au : 405,000 oz au
Inferred Resource : 3,700,000 tonnes, grade 12.12 gpt au: 1,448,000 oz au
Preliminary Economic Analysis for Zaruma Project:
dynastymining.com
Zaruma Project Resource chart : Veins
Dynasty Goldfields Project :
Commenced mining operations in early January 2017.
Mining and transportation of ore is contracted out.
Ore transported approximately 180 km by road to Zaruma processing facility.
Production from a number of small open pits, processing plant currently processing 800 tpd .
News release of contract mining agreement :
dynastymining.com
Measured Resource : 2,909,000 tonnes grade, 4.7 gpt au, 38.1 gpt ag : 437,000 oz au, 3,567,000 oz ag
Indicated Resource : 3,958,000 tonnes grade, 4.6 gpt au, 38.3 gpt ag : 585,000 oz au, 4,936,000 oz ag
Inferred Resource : 7,825,000 tonnes grade, 4.4 gpt au, 38.5 gpt ag : 1,118,000 oz au, 9,901,000 oz ag
Dynasty Goldfields Technical Report :
dynastymining.com
Jerusalem Project :
Measured resource : 379,000 tonnes grade 14.2 gpt au, 76.0 gpt ag : 173,000 oz au, 926,000 oz ag
Indicated resource : 576,000 tonnes grade 13.5 gpt au, 81.0 gpt ag : 249,000 oz au, 1,495,000 oz ag
Inferred resource : 1,775,000 tonnes grade 15.0 gpt au, 98.0 gpt ag : 856,000 oz au, 5,569,000 oz ag
Jerusalem Project Technical report :
dynastymining.com
Share Structure as of September 6, 2017
Shares Issued and Outstanding: 101,227,504
Warrants Outstanding:
3,000,000 exercisable @ $0.15 expiry date Sept. 15, 2018 (Vertex)
750,000 exercisable @ $0.33 expiry date Apr. 4, 2019 (Credipresto)
250,000 exercisable @ $0.35 expiry date Apr. 26, 2019 (Credipresto)
**2,967,503 full warrants exercisable @ $0.45 expiry date June 30, 2019 (5,935,006 half warrants from 1st tranche of June 2017 financing)
**1,642,833 full warrants exercisable @ $0.45 expiry date July 17, 2019 (3,285,666 half warrants from 2cd tranche of June 2017 financing)
**811,457 full warrants exercisable @ $0.45 expiry date Aug 5, 2019 (1,622,914 half warrants from 1st tranche of July 27 2017 financing)
**1,277,543 full warrants exercisable @ $0.45 expiry date Sept 6 2019 ( 2555,086 half warrants from 2cd tranche of July 27,2017 financing)
**subject to acceleration in the event that the closing price of the Common Shares is $0.60 or higher over a period of ten (10) consecutive trading days.
Options : 8,471,000
45,000 @ $3.00 expiry date Sept 17, 2017
1,490,000 @ $0.64 expiry date July 16, 2018
623,000 @ $0.89 expiry date Jan 1 2019
35,000 @ $1.48 expiry Jun19 2019
25,000 @ $1.61 expiry July 28 2019
1,678,000 @ $0.92 expiry date Nov 21 2019
125,000 @ $0.79 expiry date Apr 8 2020
50,000 @ $0.36 expiry date Mar 14 2021
4,400,000 @ $0.23 expiry date Dec 7 2021
Promissory Notes : (Held by Vertex Managed Value Portfolio and Vertex Enhanced Income Fund)
1. Promissory notes in the aggregate principal amount of $1.5-million (U.S.) bearing interest at 12 per cent per annum
and maturing on Sept. 15, 2017;
2. Promissory notes in the aggregate principal amount of $1.5-million (U.S.) bearing interest at 12 per cent per annum
and maturing on Sept. 15, 2018;
3. Freely assignable convertible promissory notes in the aggregate principal amount of $1-million (U.S.) bearing interest
at 12 per cent per annum and maturing on Sept. 15, 2018, convertible into common shares of the company at 30 cents per share;
(4,333,333 shares @ $1.30 CDN/US exchange rate)
Convertible Debentures : (Held by Credipresto SAPI de CV SOFOM ENR)
$1-million (U.S.) convertible secured subordinated debenture at 12 per cent per annum and maturing Jan. 2019.
$0.25 per share conversion rate, based on the noon Bank of Canada Canadian-dollar/U.S.-dollar exchange rate
on the date immediately preceding the closing of the offering; Secured through a pledge of all of the issued and
outstanding share capital of Elipe SA, an indirect wholly owned subsidiary of the company, ranking behind the
Vertex loans outstanding; Based on current exchange rates, if the convertible debenture is fully converted into
common shares of the company, approximately 5,241,600 common shares of the company would be issuable
to Credipresto.
$500,000 (U.S.) secured convertible debenture at a rate of 12% per annum payable quarterly in cash
and is fully secured through a pledge of all the issued and outstanding share capital of Elipe S.A., an
indirect wholly owned subsidiary of the Company, ranking behind the outstanding loans from
Vertex Managed Value Portfolio and Vertex Enhanced Income Fund. The principal amount of the Debenture
is convertible at any time at the option of the holder into common shares of the Company (the "Common
Shares") at a price of CAD$0.25 per Common Share, based on a Canadian dollar/US dollar exchange
rate of 1.3322. An aggregate of up to 2,664,400 Common Shares are issuable by the Company
on conversion of the Debenture, representing approximately 3.03% of the issued and outstanding
Common Shares on completion of the Private Placement.
$500,000 (U.S.) secured convertible debenture bears interest at a rate of 12% per annum payable quarterly
in cash and is fully secured through a pledge of all the issued and outstanding share capital of Elipe S.A.,
an indirect wholly owned subsidiary of the Company, ranking behind the outstanding loans from
Vertex Managed Value Portfolio and Vertex Enhanced Income Fund. The principal amount of the
Debenture is convertible at any time at the option of the holder into common shares of the Company
(the "Common Shares") at a price of CAD$0.26 per Common Share, based on a Canadian
dollar/US dollar exchange rate of 1.3516. An aggregate of up to 2,599,231 Common Shares are
issuable by the Company on conversion of the Debenture, representing approximately 2.96% of
the issued and outstanding Common Shares on completion of the Private Placement.
Fully Diluted Shares: 135,236,404
INSIDER HOLDINGS ( Information compiled from Sedi.ca, 2017 Annual Information Circular, and regulatory filing 62-103F1 on Sept 12, 2016 )
Keith Piggott (CEO) ……….10,458,965
Gregg Sedun (Director) …... 3,372,666
Gregg Sedun's Associate .... 3,281,000
Javier Reyes (Credipresto)...4,443,000
Total holdings …………... 21,555,631 common shares
Robert Washer (Chairman of the Board)
Cinergy Capital …………..11,231,281
Valorium Int’l ……………… 8,007,284
Other .....................................500,003.
Robert Washer Total ….. 19,738,568 common shares
Leonard Clough (Director)... 454,800
Mark Bailey (Director) ..........135,600
Total Insider Holdings … 41,884,599 common shares
Shares Outstanding …….101,227,504 common shares
% of insider holdings ----- 41.37 %
Charts: Daily - Weekly - Weekly II
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