oh i think they are there...and most likely buying weakness on the quiet.

as indicated in the financial statements and md&a for the quarter ended june 30, 2010, minera dynacor del peru is currently under review. dynacor has received claims from the sunat for the years 2003 and 2004. these claims are not considered as an amount payable under peruvian regulation. for instance another example in peru: telefonica, which has received claims for more than a few million, has not recorded a penny. it is important to add that the review is for minera dynacor del peru and does not involve tumipampa , casaden or dynacor gold mines inc.


the fact is it is a weak claim. watch it to be dismissed in the near future. besides, 7 or 8 years from now they will most likely have been bought by a major. i give dng 1 or 2 years tops before she's taken out. in my opinion this claim is noise and irrelevant to whats coming in the pipeline from tumi, acari and casaden. 

the fact is dynacor is one of the largest custom-milling gold plants in peru, it is obvious that there will be rumours about dng. in 2009, minera took action to ensure that there will not be any issues with purchases of ore in the future.


and on the flip side, think about what the stock price would do virtually overnight if/when the peruvian authorities quietly come through with the sales tax receivable.in any case, management is doing it right by marching forward.

The Company is continuing its negotiations with the Peruvian authorities to recover the sales taxes receivable for the period of July 2008 through April 2009 in the amount of $4.2M that being withheld from one of the Company’s Peruvian subsidiaries. This tax amounts to 19% of the total purchase value. Despite the lengthy process to achieve resolution, the Company still believes that it will recover the entire amount though it cannot determine with any precision when the amount will be received. As a result, the total Peruvian sale tax receivable withheld was reclassified as long term.


the profit margins are averaging closer to 20% every quarter. a .03 eps annualized should be at least 8-10 times. it will come before the end of the year in my opinion. the bashers on haven't got a chance with this darling as her float is extremely low and she is too tightly held by longs. if you believe that  gold continues to rise and they just finished making $217/oz profit of gold in the last quarter, what do you think they will make with gold at $1300, $1400, or even $1500 an ounce? or if gold even falls to a $1000, who cares, they still make money.

 

dynacor holdings:

 

trapeze: 18%

sprott: 14%

agf: 10%

dd: 10%

caisse: 5%

malaga: 13%

management: 3%

ir group: 7%

 

total: 80% of dng stock held in strong hands

 

heard from the company they are working hard at preparing to launch september into an exciting month for shareholders, i like it a lot.

 

on slate for dng in sept:

 

jay taylor: begins coverage on dng and recommends buy in sept
jay taylor: expecting bnn interview in sept.

nai500: introduces dng to 60,000 of their subscribers, translations are expected in early sept
interested new institutional buyer, meetings early sept
tumipampa exploration update
acari operations update
casaden exploration update

 

i cannot find another company that profits just under a $1m/quarter, only 30 million shares outstanding, trading at .39/share or 3.2 times forward p/e, three exploration properties, one world-class, active exploration drilling campaign and 860,000 ounces of gold in the ground. if you take the gold at acari, they already have over 10 years of mine life with an approved and operating mill.