The magic moment for any junior miner is when it moves from being just another exploration play to actually owning a working mine and Dynasty (DMM.to) makes that transition officially as of today at its ‘Zaruma’ operation in Ecuador. Congratulations, CEO Washer and the team over there. Enjoy a glass of champagne tonight because my stars you deserve one.
DMM.to is up at $5.00 at the bell and WILL go higher, be in no doubt. By the way, the NOBS report is still available on Dynasty, but as it was a recommend four months ago and about 300% away from today’s price the investment dynamics have changed somewhat (which is a long-winded way of saying “nailed that trade, dude”).
Here’s the press release with the good news.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – April 8, 2009) – Dynasty Metals & Mining Inc. (TSX:DMM – News; “Dynasty” or the “Company”) is pleased to announce it has commenced the commissioning of its gold processing plant at Zaruma, in the El Oro Province of south-western Ecuador.
The plant will be commissioned in phases, starting with the crushing section which is currently being tested. The ball mills will be tested later this month and by the end of the month the Company expects to run and test the full circuit. Plant commissioning and mine development will continue for approximately three months, after which time the Company plans to process 800 tonnes of material per day, which is approximately 300,000 tonnes per annum. The installed capacity of the plant, except for the wet section, is approximately 800,000 tonnes per annum, allowing for considerable expansion without significant additional capital cost. It also provides the opportunity for the Company to process material with lower than planned resource grades to generate additional ounces in a rising gold market.
Mine development activities continue as scheduled. The Company has opened two declines, from which material is presently being mined. A third decline is under construction. The mining and delivery of material to the plant will be stepped up in time to meet the Company’s planned production schedule.
Recently updated photographs of the Zaruma Gold Project are available on the Company’s website at www.dynastymining.com.