Business
Dynacor: 2008 gold sales of 36,800 ounces totalling more than 34M$ at Acari
Dynacor Gold Mines Inc. (dynacor) Symbol: DNG Toronto Stock Exchange (TSX)
About this update from Dynacor Group Inc
[{"type":"text","content":"\n\n\n\nDynacor Gold Mines Inc. (dynacor)\n\n\nSymbol: DNG\n\n\nToronto Stock Exchange (TSX)\n\n\nMONTREAL, Feb. 10 /CNW Telbec/ - Dynacor Gold Mines Inc. (TSX: DNG) is\npleased to announce that for the 12-month period ending on the 31st of\nDecember 2008 it has registered record gold sales of 36,800 ounces which is\n22% above its target of 30,000 ounces that had been announced previously.\n\n\nDuring its 8-month operating period in 2007, Dynacor produced from its\ncustom gold milling operations more than 19,000 ounces of gold. Sales in 2008\nin comparison have thus increased by approximately 90%. Gross sales reached\n$34 million, an increase of 143%, as compared to sales of $14 million in 2007.\n\n\nDynacor's President and CEO, Jean Martineau, considers that these results\nhave laid the foundation that should allow the Company to progress further in\nthe coming year. Indeed, he recently commented that "DNG's gold sales (in $)\nhave more than doubled since 2007 and the Company's financial results for Q4\n2008 and in fact for all of 2008 should be rock solid. We expect that this\nwill continue in 2009 since most financial analysts expect the price of gold\nto remain high considering its status as a store of value in these uncertain\neconomic times. Some of the more optimistic scenarios call for the price of\ngold to even exceed $1000 per ounce".\n\n\nRECORD 4TH QUARTER\n\n\nSince the beginning of its operations, Dynacor's 2008 4th quarter\nfinancial performance is its best ever with gold sales of 11,332 ounces\ntotalling 11.4 million dollars. This represents an increase of 75% (in $)\ncompared to sales of 6.5 million dollars in the same period in 2007 (gold\nsales, 8,272 ounces in 2007, increased by 37%).\n\n\nThe previous record was registered in Q3 2008 with gold sales of 9,508\nounces, thus gold sales in Q4 2008 increased by 19%.\n\n\nFinancial data is preliminary and could be subject to adjustment.\n\n\nABOUT DYNACOR GOLD MINES INC.\n\n\nDynacor is a gold exploration and mining company, that has been active in\nPeru through its subsidiaries since 1996. The Company's assets include the\nAcari, Casaden and Tumipampa exploration properties. The Acari mill produces\ngold by custom milling. Dynacor's strength and competitive advantage comes\nwith the experience and knowledge the Company has developed while working in\nPe...