Business
Dynacor: Custom milling capacity increases by 75% at Acari plant
2008 Dynacor Gold Mines Inc. (dynacor) Symbol: DNG
About this update from Dynacor Group Inc
[{"type":"text","content":"\n\n\n\n2008\n\nDynacor Gold Mines Inc. (dynacor)\nSymbol: DNG\nToronto Stock Exchange (TSX)\n\n\nMONTREAL, Nov. 12 /CNW Telbec/ - Dynacor Gold Mines Inc. (TSX: DNG) is\npleased to report that the ore milling capacity of its Acari plant has been\nsuccessfully increased by 75% during the first nine months of 2008. This has\nled the Company to revise upwards its sales target for 2008. Management now\nexpects to produce close to 35,000 ounces of gold, through custom milling, in\n2008.\n\n\nMilling capacity at the Acari plant reached 160 tons per day since the\n15th of October, surpassing the Company's target of 150 tons per day that had\nbeen planned for the end of 2008 (see Press Release dated January 16, 2008).\nThe plant buys its ore from many different gold mining operations throughout\nthe region.\n\n\nThe gradual increase in the milling rate from 90 tons per day to the\ncurrent rate of 160 tons per day is due to new equipment that has been\ninstalled at Acari and the opening of a new ore purchasing office in\nEspinar/Cuzco (see Press Release dated April 16, 2008).\n\n\nDespite the very difficult current economic environment, Dynacor Gold\nMines has continued its growth. In fact, Jean Martineau the Company's\nPresident and CEO has recently stated that "under the current volatile market\nconditions Dynacor Gold -because of its custom milling approach - is well\npositioned not only to survive but actually to grow since its base purchasing\ncost of gold ore is directly pegged to the world market price of gold."\n\n\nFurthermore, he underlined that "the company's milling profit margin is\nnot influenced by the price of gold at a given moment in time in contrast to\nmost other more traditional mining companies. The Company plans to take full\nadvantage of this in the coming year by continuing to grow as well as finance\nits ongoing exploration campaign."\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\nPeru. Its pride remains in maintaining resp...