Dynacor Advances its Corporate Social Responsible Projects in Peru

Thursday, 19. September 2019 13:00

MONTREAL, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (“Dynacor” or the “Corporation”) (TSX:DNG) (OTC:DNGDF) a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, today announced new advances to its corporate social responsible (CSR) projects under the PX Impact™ label.

Dynacor works to continuously improve the health and education of the ASM (artisanal small-scale miners) communities it serves. To date, Dynacor has funded via its PX Impact™ program USD 162K.

2019 To Date:

  • Miguel Grau school, Alto Molino, Rio Grande district, Condesuyos province, Arequipa region:
    • construction materials for the development of new classrooms;
       
  • Jardin de Amor school, La Aguadita, Chala district, Caraveli province, Arequipa region:
    • development of new green area garden to help in educating the children on environmentally responsible practices;        
  • Sagrado Corazon de Jesus school, northern Chala, Chala district, Caraveli province, Arequipa region:
    • construction materials for the roof of a new sports facility; new audiovisual equipment and warehouse;

  • Manuel Scorza school, Llacuabamba, Parcoy district, Pataz province, La Libertad region:
    • provided funding for classroom renovations, furnishings, and a complete set of 30 brand new desktop computers.

2018

  • Ricardo Palma school, Secocha, Ocona district, Camana province, Arequipa region:
    • development of two new computer and science labs, new bathrooms and a roof for sports facility. 

The PX Impact™ projects are financed from the sale of responsible gold under the PX Impact™ label in Europe. A growing number of supportive firms from the fine luxury jewellery, watchmakers and banking sectors have agreed to pay a small premium. These firms are incorporating the use of responsibly sourced traceable gold that is produced from ASMs. One hundred percent of the premiums paid are used in the projects. There are no administrative fees, and the two partners Dynacor/PX Precinox jointly assume the overhead.

This business to business approach in the gold supply chain is the first of its kind. It will significantly benefit the small-scale mining communities in Peru that supply the mineralized gold ore.

This responsible gold supply chain supports: 

  • The formalization process of the artisanal mining sector in Peru;
     
  • Better health, education and economic well-being for artisanal mining communities in Peru. 

ABOUT DYNACOR

Dynacor is a dividend paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from artisanal and small-scale miners (ASM). At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314 ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).

Dynacor produces environmental and socially responsible gold through its ‘’PX Impact™’’ gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX Impact™ gold. The premium provides direct investment to develop health and education projects to our ASM communities.

Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).

FORWARD-LOOKING INFORMATION

Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.

Dynacor (TSX: DNG / OTC: DNGDF)

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

Shares issued and outstanding: 38,961,726

For more information, please contact: Dynacor
Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: (514) 393.9000 #230
E: investors@dynacor.com 

Primary Logo

Related Links: 
Author:
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.