Gunmen entered a precious metals processing plant in Ecuador’s El Oro Province on the fourth Monday in July 2012. It is estimated that the robbers made off with approximately four-thousand ounces of silver and thirteen-hundred ounces of gold, in the early morning heist. The stolen metal was in the form of bars, and was pilfered from the processing plant at the Zaruma Gold Project.
Although there were no serious injuries during the robbery, the stolen property is worth several million dollars at today’s precious metals prices. Police were on the scene as support was lent to employees involved in the incident. According to Robert Washer, CEO of the Canadian mining company, insurance claims have been filed in an attempt to recover the company’s losses. Dynasty’s production and liquidity could potentially be affected if the stolen bars are not recovered, or sufficient insurance compensation is not received in an appropriate time frame.
Dynasty Metals currently mines gold and silver at three different Ecuadorian projects. Security upgrades are being contemplated.