The Zaruma plant is being commissioned in phases, starting with the crushing section. The ball mills were scheduled for testing later in April, and by the end of the month, Dynasty expected to run and test the full circuit. The company expects the plant to reach planned throughput of 800 mt/d (300,000 mt/y) by mid-year. The installed capacity of the plant, except for the wet section, is approximately 800,000 mt/y, allowing for considerable expansion without significant additional capital cost.

Zaruma mine development activities are on schedule. Dynasty has opened two declines, from which material is currently being mined. A third decline is under construction. The mining rate and delivery of material to the plant will be stepped up in time to meet the planned production schedule.

The Zaruma property has a measured and indicated gold resource of 1.1 million oz at an average grade of 13.93 g/mt, plus an inferred gold resource of 1.4 million oz at an average grade of 12.72 g/mt. The property is located in the Zaruma-Portovelo mining district, which produced more than 5 million oz of gold from 1905 through the 1950s.