At a time when many junior companies are dropping like flies, Dynacor Gold Mines (TSX: DNG: US-OTC: DNGDF) generates about US$700,000 to US$800,000 in cash flow per month, has about US$13.5 million in the bank, no debt, and plans to spend US$5 million on exploration this year at its Tumipampa project in Peru.
The Montreal-based company will spend another US$8 million in 2015 on building an ore processing facility, its second in the country. This week, Dynacor received its final construction permit to build the mill near a city called Chala, about 600 km south of Lima, and expects it should be operating in about 12 months.
The 300-t/d Chala mill will process gold from government approved artisanal miners. Of the estimated US$10 million capex, Dynacor already has spent US$2.3 million on general infrastructure and equipment.
Read the complete article at NorthernMiner.com/news/dynacor
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