Dynacor reports net earnings of $0.8 M for Q1 2009

About this update from Dynacor Group Inc

[{"type":"text","content":"\n\n\n\nSymbol: DNG\n\n\nToronto Stock Exchange (TSX)\n\n\nMONTREAL, May 19 /CNW Telbec/ - Dynacor Gold Mines Inc. (TSX: DNG) is\npleased to report its financial results for the first quarter of 2009 ended\nMarch 31, 2009. The consolidated financial statements (all currency figures\nappear in Canadian dollars unless otherwise specified) along with management's\ndiscussion and analysis are available on the Company's website\n(www.dynacorgold.com) and have been filed electronically on SEDAR\nwww.sedar.com.\n\n\nQ1 2009 HIGHLIGHTS\n\n- Net earnings of $0.8 M ($0.2 M in 2008) for an earning per share of\n $0.03 ($0.01 in 2008)\n- Gold sales increased by 24% to reach 8,999 ounces (as compared to 7,266\n ounces in Q1 2008)\n- Cash and cash equivalents and short term investments equal to $2.1 M\n- Cash flow generated from operating activities before change in non-cash\n working capital of $0.9 M ($0.4M for Q1 2008)\n- Gross margin before amortization of $206 as compared to $114 for the\n corresponding period in 2008\n\n\n2009 OUTLOOK\n\n\nDynacor plans to continue the exploration of the Tumipampa property in\n2009. The Company didn't complete any surveys during the three-month period\nended March 31, 2009, as it is still waiting for a portion of the receivable\nsale taxes that is withheld by the Peruvian tax authorities. Also, prior to\nlaunching the drilling campaign, the Company wishes to carry out some detailed\ngeochemical surface surveys, to complete systematic sampling as well as a\nprecise geophysical data synthesis and analysis in order to better target\nfuture drilling locations and to estimate the dimensions of the Skarn\nstructure.\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 respect and positive work ethics toward\nits employees, partners and local communities.\n\n\n","length":2296,"tagName":"div"}]

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