Dynacor Gold Mines Inc. (Dynacor or the Corporation) today provides an update on the first month of ore processing at its new Veta Dorada plant in Chala, Peru. The Corporation has added new ore providers to its growing list of suppliers. This recent ore provider growth is in large part the result of Dynacor boosting its ore-purchasing business (see press release dated August 16, 2016) in anticipation of the opening of the new modernized and large scale Veta Dorada plant strategically located in the small-scale mining hub of southern Peru.
During its first month of operation, Dynacor increased gold production to a 2016 monthly best of 7,449 oz, a 17% increase compared to the monthly average of 6,377 oz during the third quarter 2016. The average daily processing rate at Dynacor's new Veta Dorada plant, was 243 tpd (tonnes per day), an increase of 16% as compared to the average daily processing rate of 210 tpd in the third quarter 2016 at its Huanca plant. Only one day was lost due to process adjustments.
Ore purchases have increased continuously since the beginning of the year. Monthly average ore purchases were 4,678 mt in Q1-2016, 5,702 mt in Q2-2016 and 6,475 mt in Q3-2016. In October, at Chala ore purchases further increased to reach 7,029 mt.
Finally, Dynacor is pleased to report that it has been able to increase its ore stockpile at Chala and will continue its effort to maintain an inventory of at least ten to twelve days of ore processing to ensure continuous production in the coming months as it ramps up its effective processing rate.