Sep 19, 2013 (ACCESSWIRE via COMTEX) — IRVING, TX, September 19, 2013 – (Accesswire) – DynaResource, Inc. (“DynaUSA”, and “the Company”) (otcqb:DYNR), is pleased to announce the appointment of Mr. Chad Mooney to the position of Executive Vice President-Capital Markets, effective immediately. Mr. Mooney has over 35 year’s highly productive history on Wall Street, and brings with him an extraordinary record of achievement in financial management and public and private capital markets. Mr. Mooney previously built a top 10 business at Smith Barney, where he was the largest equity syndicate producer, as well as having the largest listed equity trading business. Mr. Mooney chaired the Director’s Advisory Group at Smith Barney, representing all financial advisors at Smith Barney, and he reported directly to his mentor, Mr. Jamie Dimon, the current Chairman and CEO of financial giant, JP Morgan Chase & Co. From 1990 to 2004, Mr. Mooney served as Director of Investments for Smith Barney, and personally oversaw and advised $ 3.5 B. in client assets. In 2000, after playing a key role in building the largest water company in the world (U.S. Filter, a NYSE Listed Company) Mr. Mooney coordinated the sale of U.S. Filter to Vivendi, for $ 8.1 B Cash. Joining DynaUSA, Mr. Mooney is expected to work directly with Company Chairman-CEO Mr. K.D. Diepholz, and will manage the Company’s interface with public and private capital, capital markets, Investment Banks and Investors.
Mr. K.D. Diepholz said: “I would like to express my respect and congratulations to Mr. Mooney for his outstanding achievements and success in business. And, I am grateful for the confidence and support shown by Mr. Mooney to DynaUSA and its current management team. Chad brings to the Company a wealth of experience and top of the world successes and he conducts himself with the highest standards for ethical and professional practice. With the addition of Mr. Mooney to DynaUSA’s management team, the Company now has key positions managed by first class, professional, successful executives. DynaUSA is now in position to finance and develop the San Jose de Gracia high grade gold project in Sinaloa, Mexico, through its 100% owned operating subsidiary in Mexico, Mineras de DynaResource, S.A. de C.V. I look forward with excitement and dedication to working with Chad on a daily basis, and I’m anxious to share the benefits of our developing enterprise with Chad, Company management and shareholders.”
Mr. Mooney said: “I am very attracted to the unique combination of opportunities presented by DynaResource, Inc., including: (1) a tremendous management team of impeccable standards including the highest standard for ethical practice; (2) a first class Chairman-CEO in K.D. Diepholz; (3) a world class asset (the high grade gold property in Mexico, San Jose de Gracia (“SJG”), which is 100% owned by DynaResource de Mexico, S.A. de C.V.; DynaUSA owns 80% of DynaResource de Mexico); (4), an asset (SJG) which is currently heavily discounted in the marketplace; (5) a short term projection to positive cash flow; (6) the potential for substantial cash flow in the near future; (7) a significant potential for expansion of resources and increased production and cash flows; (8) an overall substantial potential for build out of asset (SJG); and, (9) a substantial potential for realizing a sizeable increase in market value.
Overall, there are a number of macro factors presented by DynaUSA which are highly favorable, with the potential to realize exponential benefits. I see a potential investment return within DynaUSA that is exceptional. I look forward to working directly with K.D. and interfacing with capital and markets, with the expectation of realizing a sizeable potential value for DynaUSA and its shareholders.”
DynaUSA – DynaMexico
DynaUSA (the “Company’) is a Resource Investment and Management Company based in Irving, Texas, with a current focus on the San Jose de Gracia Project in Sinaloa Mexico (“SJG”), targeting growth in the defining and future production of predominately gold resources. The Company formed DynaResource de Mexico S.A. de C.V. (“DynaMexico”) in March 2000 specifically for the purpose of acquiring and consolidating the SJG District; and it completed the consolidation of the entire SJG District to DynaMexico in 2003 (approx. 15 sq. km. at that time), with the exception of the San Miguel Mining Concession (7 Hectares, for which DynaMexico is proceeding towards accomplishing the transfer of title to DynaMexico, under previously signed sale and purchase agreements). During the period 2003-2006, DynaMexico conducted Pilot Production operations at the San Pablo area of SJG, reporting production results of: 18,250 Oz. Gold sold; 42,000 tons mill feed; average feed grades of 15-20 g/t Gold; and, average production costs of less than $175./Oz. Gold.
DynaResource Management Team
In a prior news release dated May 15, 2013, the Company announced: (1) the promotion of Dr. Jose Vargas Lugo to the position of President of Mexico Operations; and, (2) the appointment of Mr. Keith W. Brogoitti to the position of Vice-President of Mexico Operations. (See DynaUSA news release dated May 15, 2013).
Exclusive Operating Entity at San Jose de Gracia – Mineras is Operator
Under the provisions of Operating Agreements between Mineras de DynaResource S.A de C. V. (“Mineras”) and DynaMexico, including the Exploitation Amendment Agreement dated May 15, 2013 (“EAA”); Mineras is named the exclusive operating entity at the SJG Property. Under the provisions of the EAA, Mineras is granted the rights to finance, operate, maintain, explore and exploit the SJG Property. (See DynaUSA news release dated June 21, 2013.) DynaUSA owns 100% of Mineras.
Current Ownership of DynaMexico – DynaUSA owns 80%
At a DynaMexico shareholder meeting, held on the second call for shareholder’s meeting on May 17, 2013 in Mazatlan, Sinaloa, Mexico, the attending shareholders unanimously approved the issuance of 300 Series B Shares of Variable Capital of DynaMexico to DynaUSA in exchange for the settlement of accounts payable by DynaMexico to DynaUSA in the amount of $31,090,710 Mexican Pesos (approximately $ 2.4 M. USD). After the issuance and receipt of the 300 Series B Shares, DynaUSA holds 80% of the total outstanding Capital of DynaMexico. (See DynaUSA news release dated June 24, 2013.)
Operator Mineras Accounts Receivable from DynaMexico
As of September 17, 2013; Operator Mineras reports a current accounts receivable from DynaMexico of $1,150,000 USD.
DynaMexico Permission to Operate Pilot Mill Facility at SJG (Permit Issued by the Federal Environmental Authority in Mexico-SEMARNAT)
On June 17, 2013 DynaMexico received from the Secretaria de Medio Ambiente Y Recursos Naturales, the Federal Environmental Authority in Mexico (“SEMARNAT”), the approval and permission which allows for the rehabilitation and operation of the pilot mill facility at SJG (“the Semarnat-SJG Mill Permit”, and, the “Semarnat Permit”). Under the terms of the Semarnat-SJG Mill Permit, DynaMexico will be responsible to maintain the SJG pilot mill facility, and including the adjacent tailings pond area, in compliance with the regulations described in la Norma Oficial Mexicana (“NOM-141-SEMARNAT-2003”). (See DynaUSA news release dated June 28, 2013.)
DynaMexico – President Holding General Powers of Attorney
The Chairman-CEO of DynaUSA, who also serves as the President of DynaMexico, holds broad powers of attorney (“POA’s”) for DynaMexico which were granted and ratified by the shareholders of DynaMexico in several written acts of the shareholders.
San Jose de Gracia (“SJG”)
The San Jose de Gracia District, covering 69,121 Hectares, is 100% owned by DynaResource de Mexico, S.A. de C.V. (“DynaMexico”). DynaResource, Inc. (“DynaUSA”) currently holds 80% of the outstanding shares of DynaMexico.
