IKN

Hereditary sloth instructs me

UPDATED: Dynacor Gold (DNG.to) might not be quite as squeaky clean as the company management tries to make out

Dontchathink? This from Reuters today:

The customs official said that since December, authorities have seized about a ton of gold from 19 companies suspected of asset
laundering.  Most of the gold was confiscated from four companies,
including C.G. Koening, a supplier of Canadian miner Dynacor (DNG.to),
said the customs source.  Dynacor and C.G. Koening could not be reached
for comment on Tuesday.  Last month Dynacor said it was holding off on
buying gold ore from its suppliers because of the crackdown and said it
complies with all regulations.



Click through for the whole report, very interesting reading.

UPDATE: Interestingly, DNG.to has now hit back. This might be fun.

MONTREAL, QUEBEC–(Marketwired – Feb. 12, 2014) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) firmly denies the information published in a Reuters press release dated Tuesday 11th February 2014 stating that “… gold confiscated from four companies, including C.G. Koening, a supplier of Canadian miner Dynacor… “. Dynacor has no contact nor any relationship with C.G. Koening and this company is not one of Dynacor’s suppliers.

Furthermore, Dynacor has not had any of its gold confiscated by the authorities. Dynacor is waiting for the authorities to complete their review of the export documentation supplied to the Customs officials and will resume its exports once this review has been completed. Dynacor reiterates that all of its suppliers are registered in accordance with Peruvian laws (see Press Release dated January 29, 2014). 

Dynacor has requested a formal retraction from Reuters, as such false information may have had a disruptive effect on the market. 

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.