DYNR Dynaresource Inc (QX)

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 20, 2024

 

 

DYNARESOURCE, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			000-30371	94-1589426
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
The Urban Towers 222 W. Las Colinas Blvd. Suite 1910 - North Tower
Irving, Texas				75039
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (972) 869-9400

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
N/A		N/A		N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 8.01 Other Events.

On December 20, 2024, DynaResource, Inc. issued a press release announcing November Production and Management Initiatives at the San Jose de Gracia mine. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

d) Exhibits

Exhibit No.		Description
99.1		Press Release issued on December 20, 2024.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			DynaResource, Inc.
Date:	December 20, 2024	By:	/s/ Rohan Hazelton
			Rohan Hazelton, Chief Executive Officer

 

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OTCQX: DYNR WWW.DYNARESOURCE.COM

 

DynaResource Reports November Production and Management Initiatives at the San Jose de Gracia Mine

 

All figures in United States Dollars (“USD”).

 

IRVING, TX / December 20, 2024 / DYNR-DynaResource, Inc. (OTCQX:DYNR) (“DynaResource”, or “the Company”) is pleased to announce the November 2024 operating results at its San Jose de Gracia Mine in Sinaloa, Mexico, highlighted by 2,182 ounces of gold production and an average of 770 tons per day.

 

November 2024 production highlights include:

 

“November results continue to reflect the operational changes the Company has been implementing at San Jose de Gracia, in particular strong underground mine development which increases the flexibility of our daily mine operations,” stated Rohan Hazelton, President & CEO DynaResource. “While power outages impacted production, we had the mill operating at the elevated rates we saw in the previous month and our grades continue to stabilize. The Company expects to see greater improvements in the coming months as we remain focused on optimization and prudent cost management. The Company now estimates full year production to be approximately 25,500 to 26,000 ounces of gold.”

 

Summary of key operational performance for the month and YTD is provided in the tables below:

 

 

Operating Metrics		Month	YTD
		Actual	Actual
Days Operating		30	335
Tons Milled		23,108	238,710
Grade Calculated		4.02	4.06
Recovery %		73.0%	76.0%
Gold produced (Oz)		2,182	23,710

 

 

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Overview of November Operations

 

Plant and Mill

The plant has been operating at higher throughput levels since the installation of the new vibrating screen was completed in August 2024. November operations were impacted by power outages on the main regional grid electrical supply system which negatively affected the tonnes processed and the metal recovery. November average mill throughput was 770 tons per day (“tpd”) with maximum rates achieved of 870-880 tpd. The company has procured additional diesel generation on site to mitigate the impact of the grid power interruption. Metallurgical testing continued during the month with new reagents trialed. These trials are strongly indicating the ability to deliver recoveries of 78.5-79.1% from the plant flotation circuit. The company is also investigating increased overall gold recoveries via the installation of a Gravity Gold circuit. Previously at the mine (2019 to 2020) a Gravity Gold circuit was used in the processing flowsheet and this circuit recovered approximately 30% of the gold produced.

 

Mining

During November the team continued to focus on better understanding the potential of key areas in the underground mine, particularly in San Pablo South, through structural geology interpretations. Current production efforts on the 500 Level are yielding promising results, with an active ore drive showing high-grade gold potential. This work highlights the significant opportunity to further define and exploit high-grade zones in this area.

 

Mapping and sampling continued in the 3 operating mines including the San Pablo 500 South Level (high grade zone) as part of exploration drifting and Tres Amigos 590 South Level as part of the exploration program. These investigations included the Ceseñas historical mine and Mochomera 533 N-S Level. Looking ahead, the plan includes deeper and lateral drilling between the San Pablo and Tres Amigos veins to potentially extend the high-grade underground resource at San José de Gracia. Exploration efforts will also target the development of San Pablo South towards Mochomera, which has potential to connect with the historical, high-grade Palos Chinos and Purisima mines. These initiatives aim to build on both modern geological insights and historical mining data to maximize the resource potential of the property.

 

Year to Date Operating Results

 

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About DynaResource
DynaResource is a junior gold mining producer trading on the OTCQX under the symbol “DYNR”. DynaResource is actively mining and expanding the historic San Jose de Gracia gold mining district in Sinaloa, Mexico.

 

On behalf of the Board of Directors of DynaResource, Inc.
Rohan Hazelton
President & CEO

 

For Information on DynaResource, Inc. please visit www.dynaresource.com, or contact:

 

Investor Relations:
Katherine Pryde, Investor Relations Manager
+1 972-869-9400
info@dynaresource.com 

 

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

 

This news release contains forward-looking statements within the meaning of Section 27 A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

 

Certain information contained in this news release, including any information relating to future financial or operating performance may be deemed “forward-looking”. All statements in this news release, other than statements of historical fact, that address events or developments that DynaResource expects to occur, are “forward-looking information”. These statements relate to future events or future performance and reflect the Company’s expectations regarding the future growth, results of operations, business prospects and opportunities of DynaResource. These forward-looking statements reflect the Company’s current internal projections, expectations or beliefs and are based on information currently available to DynaResource. In some cases, forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Certain assumptions have been made regarding the Company’s plans at the San Jose de Gràcia property. Many of these assumptions are based on factors and events that are not within the control of DynaResource and there is no assurance they will prove to be correct. Such factors include, without limitation: capital requirements, fluctuations in the international currency markets and in the rates of exchange of the currencies of the United States and México; price volatility in the spot and forward markets for commodities; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local governments in any country which DynaResource currently or may in the future carry on business; taxation; controls; regulations and political or economic developments in the countries in which DynaResource does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labor disputes; defective title to mineral claims or property or contests over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks) as well as those risks referenced in the

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Annual Report for DynaResource available at www.sec.gov. Forward-looking information is not a guarantee of future performance and actual results, and future events could differ materially from those discussed in the forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Although DynaResource believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. DynaResource expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise.

 

 

 

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Entity Registrant Name	DYNARESOURCE, INC.
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