DYNR 8-K
Dynaresource, Inc. (DYNR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
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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. ☐
Item 8.01 Other Events.
On May 20, 2025, DynaResource, Inc. (the “Company”) issued a press release to announce the filing of its technical report summary (the “TRS”) with the U.S. Securities and Exchange Commission (the “SEC”) for the San José de Gracia Project in Sinaloa State, Mexico. The press release is incorporated by reference into this Current Report on Form 8-K as Exhibit 99.1, and furnished to, and not filed with, the SEC pursuant to General Instruction B.2 of Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
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DYNARESOURCE, INC. |
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Date: |
May 20, 2025 |
By: |
/s/ Rohan Hazelton |
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Rohan Hazelton, Chief Executive Officer |
OTCQX: DYNR WWW.DYNARESOURCE.COM
DynaResource Announces Initial High-Grade Gold Mineral Reserve of 250,000 ozs for the San Jose de Gracia Mine, Mexico
IRVING, TX / May 20, 2025 / DYNR-DynaResource, Inc. (OTCQX:DYNR) (“DynaResource”, or the “Company”) is pleased to release its S-K 1300 Technical Report Summary (the “Report”) for the San Jose de Gracia mine in Sinaloa Mexico. The Report includes the Company’s Initial Mineral Reserve Estimate, which outlines a high-grade Proven and Probable Mineral Reserve of 250,000 gold ozs for the San Jose de Gracia mine. This initial Mineral Reserve Estimate and Report was prepared by the independent firm P&E Mining Consultants Inc (“P&E”), with metallurgical test work completed by Sepro Systems Inc (“Sepro”) laboratories in Vancouver, B.C, and process plant review and operations aspects by D.E.N.M. Engineering Ltd. These independent groups of Qualified Persons have reviewed and approved the contents of this news release. The Report was filed by the Company with the Security and Exchange Commission on EDGAR, on May 19, 2025.
Highlights Include:
Rohan Hazelton, President & CEO DynaResource stated “We are pleased to release an Initial Mineral Reserve and Mineral Resource Estimate for San Jose de Gracia mine indicating at least a 7-year mine life based solely on Mineral Reserves. These 250,000 ozs of high-grade gold Mineral Reserves are defined for only three of the mineralized structures (Tres Amigo, San Pablo and Mochomera). Part of the optimization program of the San Jose de Gracia mine is establishing long-term mine planning and quantifying the
enormous potential and upside. Recently targeted exploration development drifting has also led to encountering three new mineralized veins; two at Tres Amigo mine and one at Mochomera, which are currently being evaluated as potential additional high grade ore sources. In addition to exploring the extensions to existing orebodies and mineralized structures immediately adjacent to the established mine infrastructure, the Company is planning a significant diamond drilling campaign on additional targets in the San Jose de Gracia mine property in the latter half of this year”.
Mineral Reserves
The Mineral Reserves and Mineral Resource are as follows.
Table 1: Mineral Reserves for the San José de Gracia Project
Mineral Reserve Estimate (1-9) |
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Reserve Class |
Tonnes |
Grade |
Contained Gold |
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Proven |
1,114 |
5.23 |
187.2 |
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Probable |
493 |
4.18 |
66.3 |
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Proven & Probable9 |
1,607 |
4.91 |
253.5 |
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Notes:
Mineral Resources
Table 2: Mineral Resources for the San José de Gracia Project
Mineral Resource Estimate at 2.0 g/t Au Cut-off (1-6) |
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Zone |
Classification |
Tonnes (k) |
Au (g/t) |
Au (koz) |
Metallurgical Recovery |
San Pablo/Mochomera |
Indicated |
286 |
6.74 |
62 |
80 % |
Inferred |
51 |
4.29 |
7 |
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Mineral Resource Estimate at 2.0 g/t Au Cut-off (1-6) |
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Zone |
Classification |
Tonnes (k) |
Au (g/t) |
Au (koz) |
Metallurgical Recovery |
Tres Amigos |
Inferred |
46 |
4.45 |
7 |
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Total |
Indicated |
286 |
6.74 |
62 |
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Inferred |
97 |
4.37 |
14 |
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Notes:
Economic Analysis
For the current 7 year mine life exploiting the Tres Amigo, San Pablo and Mochomera orebodies the following was the key economic results from the study.
Table 3: Key Economic Parameters
Key Economic Parameters |
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Parameter |
Amount |
Production mine life (years) |
7 |
Production rate (tpd) |
630 |
Production rate (ktpa) |
230 |
Total production (kt) |
1,607 |
Gold grade (g/t) |
4.91 |
Gold process recovery (%) |
79.9 |
Gold smelting/refining (%) |
94 |
Gold payable (koz) |
190 |
Gold Equivalent payable (koz) |
190 |
Net Revenue ($M) |
463.6 |
Sustaining Capital Costs ($M) |
81.6 |
Operating Cost ($/t processed) |
155.85 |
Operating Cost ($M) |
250.4 |
Operating Cash Cost (US$/oz AuEq) |
1,327 |
All-in Sustaining Cost (US$/oz AuEq) |
1,720 |
Pre-Tax Cash Flow ($M) |
131.6 |
Pre-Tax NPV (5% discount) ($M) |
110.0 |
Income Taxes ($M) |
32.1 |
After-Tax Cash Flow ($M) |
99.5 |
Key Economic Parameters |
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Parameter |
Amount |
After-Tax NPV (5% discount) ($M) |
84.4 |
Sensitivity Analysis
The after-tax NPV sensitivities to ±20% changes in gold metal price, gold head grade, gold metallurgical recoveries, OPEX and CAPEX are presented in Figure 1 and Table 4 below. The after-tax base case NPV’s is most sensitive to the gold metal price followed by gold metallurgical recoveries and gold head grades followed by OPEX, and then CAPEX.
Figure 1: After-Tax NPV @ 5% Sensitivity Parameter Values
Table 4: After-Tax NPV @ 5% Sensitivity Table
Extended gold Price After-Tax NPV Sensitivity Analysis |
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Gold Price (US$/oz) |
2,000 (80%) |
2,250 (90%) |
2,500 (100%) |
2,750 (110%) |
3,000 (120%) |
After-Tax Project NPV @ 5% |
27.5 |
58.3 |
84.4 |
110.4 |
133.3 |
The San Jose de Gracia mine exhibits strong leverage to gold prices, especially with long-term gold price expectations exceeding the base case assumptions made in this report. At current spot prices above $3,200 per gold ounce, after tax NPV would be expected to materially exceed $133.3M.
Exploration
DynaResource has spent the past six months compiling and interpreting all the geological, geochemical, geophysical, and historical mining data from the San Jose de Gracia mine property for inclusion into the Report. The Report recommends that ~15,000 m of underground drilling be completed to explore for new
high-grade mineralization, confirm mineralized vein continuity, and convert Inferred Mineral Resources to Indicated and Measured Mineral Resources in the three main Tres Amigos, San Pablo and Mochomera mining areas. This work should include delineation of new mineralized structures adjacent to the active mining areas. The Company is currently exploration drifting on 4 new mineralized structures adjacent (<40 metres from active mining areas) and is planning an exploration drilling program in the latter half of 2025.
Qualified Persons
The S-K 1300 Pre-Feasibility Study Report was prepared by an independent group of Qualified Persons under P&E Mining Consultants Inc and D.E.N.M. Engineering Ltd, who have reviewed and approved the contents of this news release.
On behalf of the Board of Directors of DynaResource, Inc.
Rohan Hazelton
President & CEO
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 José de Gracia gold mining district in Sinaloa, Mexico.
For Information on DynaResource, Inc. please visit www.dynaresource.com, or contact:
Investor Relations:
Katherine Pryde, Investor Relations Manager
+1 972-869-9400
[email protected]
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 José 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 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.