A very likeable chunk of news from IKN Weekly favoured stock Dynasty Metals (DMM.to) this monring. Check out the whole release right here (and there's plenty detail to absorb), but here's how it starts:
VANCOUVER, BRITISH COLUMBIA, Feb 02, 2010 Dynasty Metals & Mining Inc. (TSX: DMM) ("Dynasty" or the "Company") provides the following update to shareholders regarding the development of its Zaruma Gold plant and mining operations in southern Ecuador.
At present, the Company has approximately 33 kilograms of gold and 190 kilograms of silver contained in dory bars and circuitry at the Zaruma Gold plant. For the past month the processing plant has been, and continues to be, operating twenty four hours a day processing material extracted during the construction of three declines (see below).
Robert Washer, the Company's President and Chief Executive Officer, commented: "We have faced, and substantially overcome, many adversities over the last two years since the introduction of the Mining Mandate in Ecuador. We have built a world class production facility at a significantly lower cost than similar plants recently constructed elsewhere, created a school of mining and trained a local work force to operate modern mining machinery, developed a self sufficient enterprise in a country that has no mining infrastructure or support and successfully safeguarded our assets in a dynamic legislative environment. Despite these many adversities and the resulting delays we continue to work hard each day towards our primary objective of delivering shareholder value and are close to reaching our first mining target. I wish to thank each of our shareholders for their continued support."
Zaruma Gold Production and Plant Operations
Throughout the fourth quarter of 2009, the Company made a number of significant and minor refinements to the Zaruma gold plant, ran a series of stress tests to optimize future operations, implemented appropriate maintenance scheduling and trained a local workforce. The refinements include (continues here)