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Dynacor boosts metal sales

9/18/2012 11:20:58 AM | Stockhouse Editorial

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Currently, Dynacor's mill produces gold from the processing of ore purchased from local producers.

Dynacor Gold Mines Inc. (TSX: T.DNG, Stock Forum) said that during the month of August the company produced 5,709 ounces of gold and 16,705 ounces of silver from its ore-processing plant in Peru generating sales of US$9.96 million compared to US$6.4 million in the same period of 2011.

The company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru.

According to the press release, as of the end of August, Dynacor has produced 36,913 ounces of gold and 100,054 ounces of silver in 2012.

Furthermore, the drill at the company's flagship exploration property, Tumipampa, has been mobilized. Management anticipates the environmental impact assessment to be approved shortly and to receive the exploration permit which will enable a diamond drilling program.

The skarn Zone 4 drilling program will consist of nine holes as well the company will be excavating a crosscut and then drilling three additional holes in its gold vein rich deposit.

Dynacor is a gold exploration and mining company active in Peru through its subsidiaries since 1996.

On Tuesday, Dynacor’s stock was up 7% and was trading at $0.85 a share. The company has a market cap of $30.4 million, based on 35.7 million shares outstanding. The 52-week high and low was $1.03 and $0.36 respectively.

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