Investor Presentation
Forward Looking Statements
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
This presentation contains certain forward-looking statements regarding operational information, future exploration and development plansand anticipated future production. Words such as, potential”, “building” “inferred”, “if”, “will”, “expect”, “forecast”, “estimate”, “consider”,“may”, “possible” and similar expressions have been used to identify these forward-looking statements. These statements are management’scurrent beliefs and are based on information currently available to management.
Forward-looking statements involve significant risk and uncertainties. A number of factors could cause actual results to differ materially fromthe results discussed in the forward-looking statements including, but not limited to, changes in general economic, political and marketconditions and other risk factors. Although the forward- looking statements contained herein are based upon what management believes tobe reasonable assumptions, management cannot assure that actual results will be consistent with these forward-looking statements. Investorsshould not place under reliance forward-looking statements.
Forward-looking statements and other information contained herein concerning the metals and mining industry and Dynacor’s generalexpectations concerning the industry are based on estimates prepared by management using data from publicly available industry sources aswell as from private sources, industry analysis and on assumptions based on data and knowledge of the this industry which the Companybelieves to be reasonable. However, this data is inherently imprecise. While Dynacor is not aware of any misstatements regarding any industrydata presented herein, the industry involves risks and uncertainties and is subject to change based on various factors. There is no certainty theprojections will be met.
A Future Global Leader – Gold Ore Processing
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
• A low cost gold producing model in Peru that has delivered 28 quarters of consecutive net profits amounting to a cumulative 43.8M CAD;
• Plans to leverage expertise and expand business model to both Peru and other jurisdictions;
• Decades of experience in the business of processing ore from small scale miners;
• Blue chip long-term strategic partner in PX Precinox | PX Group;
• Strong balance sheet with no debt and USD 17.7 million in working capital;
• Only 39.7 million shares outstanding.
3
About Dynacor
DNG – TSX | DNGDF - OTC (Q)dynacor.com
• Headquartered in Montreal, Canada;
• Produces environmentally responsible gold;
• 20 years of experience in manufacturing gold dore bars from hundreds of Peruvian artisanal formalized miners;
• 100% ownership of an advancing 10 ha gold project with three different mineralized zones;
• Lowest quartile for both basic and fully diluted shares outstanding
4
A Gold Cash Flowing Business Model
A lower riskgold producer
$14M+ CF annualized
$0.36 cash flow
per share annualized
A natural hedge to the volatility of the
gold price
28 consecutive quarters of profit
*CF (Cash Flow) based on Q4-2017 cash flow from operating activities before change in working capital annualized; US to CAD exchange 1.25
A Debt-Free Cash Generator
DNG – TSX | DNGDF - OTC (Q)dynacor.com 5
The Cash Flow Proven Dynacor Model
1Receive ore
shipments from more than 450
government registered Peruvian
artisanal gold miners
Weigh, assay and screen ore
deliveries for gold content at our new
modernized plant
Pay miners after 24 hours from
delivery and process ore through mill
After 10-14 days of processing
Receive payment for gold dore bars
from strategic partner, PX
Precinox within 12 hrs of export
23
45
DNG – TSX | DNGDF - OTC (Q)dynacor.com 6
2018 Production Guidance
DNG – TSX | DNGDF - OTC (Q)dynacor.com
90-94,000 Au ounces in 2018
USD 2017 2016 2015 2014 20135YR
Average
Average Gold Selling Price
1249 1244 1157 1265 1412 1265
Average Cash Cost per oz
1059 1046 951 1006 1141 1040
*Cash Gross Operating Margin per eq oz
190 198 206 259 271 202
Chala, Peru300 TPD gold ore processing plant
Lima Cuzco
Chala
PERU
Increasing 20% to 360 TPD in 2018
7
$207 per oz
in Q1-2018
*Cash gross operating margin per equivalent ounce Au, is calculated by subtracting the average cash cost of sale per equivalent ounces of Au from the average selling price per equivalent ounces
Deliver, Return and Grow In 2018
DNG – TSX | DNGDF - OTC (Q)dynacor.com
Gold ProductionIn 2018
90-94,000 ounces at USD $207+
cash gross operating margin per ounce
ExecutionReturn Cash To Shareholders
Growth
Buyback DynacorShares in 2018
Share purchases on the open
market at market price
New Dividend Plan in 2018
Define & announce parameters
of BOD approved new dividend policy
Increase TPD By 20% in 2018
Expand capacity to 360 tpd from
300 tpd by the end of the year
Look At OtherProjects in 2018
Grow production in and out of Peru
& monetize flagship project, Tumipampa
Deliver Buyback Distribute Expand Grow
“The Company Expects Its Best Year Ever in 2018”
8
4 Year Gold Production Forecast
DNG – TSX | DNGDF - OTC (Q)dynacor.com
90 563100 000
113 000120 000
50 000
60 000
70 000
80 000
90 000
100 000
110 000
120 000
130 000
2018 2019 2020 2021
Conservative Production Forecast (oz)
Peru
94 000103 000
117 000
142 000
24 000
59 000
50 000
70 000
90 000
110 000
130 000
150 000
170 000
190 000
210 000
2018 2019 2020 2021
Progressive Production Forecast (oz)
Peru New Plant
0.96 oz/t 0.90 oz/t 0.85 oz/t 0.80 oz/t 0.99 oz/t 0.95 oz/t 0.90 oz/t 0.85 oz/t
* Production forecasts are based on current gold price; average gold recovery rate of 95% and 346 operating days per year
141,000
201,000
Average cash gross operating
margin of CAD $281 per oz in the last 5 years
* Cash gross operating margin US to CAD exchange 1.25
9
Manufacturing Plant in Peru
DNG – TSX | DNGDF - OTC (Q)dynacor.com
• New modernized plant opened in October 2016;
• 300 TPD CIP ore processing plant with design for future 600 TPD expansion;
• 150,000 artisanal miners in Peru;
• 15,000 currently in the formalization process;
• Government announced 50% expect to be formalized in the next 5 years;
• Currently 450+ miners supply high grade ore to Dynacor
10
Events Timeline 2016-2017
DNG – TSX | DNGDF - OTC (Q)dynacor.com
2016 2017Q1 Q2 Q3 Q4Q12017
Q2 Q3 Q4
Close USD 10M Credit FacilityJan 15
Extend High Grade Gold Raise At Tumipampa
Feb 10
Receive Conformity Certificate From MEM
Jun 13
Receive Water Usage Permit
Jul 28
Reach Record High Of CAD $3.71 Per Share
Sep 6
Begin Operations At New 300 TPD Plant
Sep 30
File Updated 43-101 Tech Report For Tumipampa
Nov 1
Double Land Concession Of TumipampaNov 10
Adds New Ore Providers
Nov 18
Receives Official Registration By SUNARP Of All Permits
Feb 22
Oct 12
Pay Off Long-Term Credit Facility And Become Debt-Free
Dec 29
Extend Drift & Discover New Gold Zone At Tumipampa
Mar 1
Complete Construction Of USD 15M Processing Plant
May 25
Issue 950K Shares For Proceeds Of CAD 1.7M Following Exercise Of 950K Warrants
Jun 17
Receive Final Operating Permit Sep 2
Pour First Gold At New Plant
Oct 14
Form Strategic Alliance With PX Precinox And Launch New Impact Gold Program
11
Catalyst Timeline Near-Term
DNG – TSX | DNGDF - OTC (Q)dynacor.com
2018 2019Q1 Q2 Q3 Q4 Q1 2019
Receive Community Approval To Drill Test Tumipampa Disseminated zone
Launch Share Buyback Program
Release 2017 Year-End Financials
Release Q1-2018 Financial Report
Announce 3-5 Year Strategic Plan
Release First Batch Of Drill Results
Report Gold Production Of 90-94K oz
Make Decision On Expanding Production Business To Other Jurisdiction
Release Q2-2018 Financial Report
Start Drilling Program At Tumipampa DZ (Disseminated Zone)
Conduct Geophysical Study On Tumipampa DZ
Start Construction Of Plant Expansion To 360 TPD
Expand Plant Capacity 20% To 360 TPD
12
Receive Drilling Permit For Tumipampa
Current Ratios vs 5 Year Average
DNG – TSX | DNGDF - OTC (Q)dynacor.com
11,96
6,55
1,05
4,28
14,45
10,52
1,49
4,87
PE PCF PBV EBITDA/EV
Current Ratios vs 5 Year Average
Current 5 YR Avg
-17,23%
-37,74%-29,53%
-12,11%
CURRENTCAD EPS
0.15(TTM)
13
Gold Price vs Dynacor’s Business Model
DNG – TSX | DNGDF - OTC (Q)dynacor.com
1629
1414
1327
1284 1294 1288 1282
11961219
1192
11241106
1180
1259
1335
1206 1219
12571278 1276
1329
$1 000
$1 100
$1 200
$1 300
$1 400
$1 500
$1 600
$1 700
1%
6%
11%
16%
21%
Q1
-13
Q2
-13
Q3
-13
Q4
-13
Q1
-14
Q2
-14
Q3
-14
Q4
-14
Q1
-15
Q2
-15
Q3
-15
Q4
-15
Q1
-16
Q2
-16
Q3
-16
Q4
-16
Q1
-17
Q2
-17
Q3
-17
Q4
-17
Q1
-18
GO
LD P
RIC
E
MA
RG
IN %
5-Year Profit Margins vs Gold Price
Gross Operating Profit % Net Profit % USD Gold Price (oz)
14
Increase Profitability
DNG – TSX | DNGDF - OTC (Q)dynacor.com 15
Implement a specific step-by-step approach that analyzes and continuously monitors and improves the operational efficiency of our Veta Dorada plant
• Increase the recovery rate
• Reduce the consumption of chemicals and optimizing chemical and water recycling
• Automating specific parts of the processing operation
Testing new technologies to reduce costs and increase the efficiency of each operational segment
• Further the exploration of the Tumipampa Property in order to determine the full value of this property
• Completing the exploration of the disseminated gold zone and the high-grade gold vein by 2020
• Based on the results evaluate different options for the future of the project
Promoting Business Model
DNG – TSX | DNGDF - OTC (Q)dynacor.com
• Ecologically responsible exploitation
• Formalization of the status of our supplier base
• Increasing the yield of our supply base
• Continue to raise awareness of our unique lower risk business model
• Widen investor target audience to the generalist community
• Branding our gold; a benefit to the entire supply chain
16
Accelerate Growth
DNG – TSX | DNGDF - OTC (Q)dynacor.com 17
Dynacor's management team is taking the necessary steps to fast-track the growth of the company by increasing its ore processing capacity and gold production:
• In Peru
• In other mining-friendly Latin-American countries
• In other parts of the world
This strategy for growth will be based on:
• Expanding the company's current processing capacity at the Veta Dorada plant
• Building new ore processing plants
• Purchasing other plants
• Entering into partnerships to expand more rapidly
• Licensing the company's business model where it does not wish to directly be the operator
• Dynacor is planning to have one new plant operating by the end of 2021 and a second plant in the pipeline
Risks
DNG – TSX | DNGDF - OTC (Q)dynacor.com
• Gold price drops to multi-year lows
• Concentration in Peru and one country
• Natural disasters such as earthquakes and El Ninos (abnormal rainy season)
• Unable to execute on development decisions
• Community resistance continues to delay investment, permitting and development
18
Strategic Decision
DNG – TSX | DNGDF - OTC (Q)dynacor.com
• Diversify geographical presence to reduce the risk in one country• Assess the real potential of the exploration business and take action within 2 years• Look out for accretive investments/strategy • Define dividend policy parameters in the strategic plan;• Renew NCIB immediately;• Upgrade US listing to QX
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Capital Market Summary
Market Summary
Stock Price (Year High-Low) $1.50 - $2.26
Ticker Symbol DNG – TSX
Shares Outstanding (Basic) 39.7M
Warrants Nil
Monthly Dividend TBD
Dividend Yield TBD
Director & Senior Management Ownership 4%
Capital Structure
Market Capitalization 75M
Debt Nil
DNG – TSX | DNGDF - OTC (Q)dynacor.com 20
Record High Gold Production
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
5 208
6 733
5 181 5 087
6 206
6 895
6 287
7 0427 192
7 905
7 253
8 910
4 000
5 000
6 000
7 000
8 000
9 000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Monthly gold production ounces (Jan-Dec 2017)
Targeting 90-94,000 ounces in 2018
+71%79,897 ounces
produced in 2017
21
First Full Year Of Processing At New Chala Plant
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
185
215
200
180185
215
190
245
265270
265
300
160
185
210
235
260
285
310
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average Monthly Ore Processing Rate (TPD) in 2017
2018 goal ramp up to 360 TPD
(tonnes per day)
+62%
*TPD is rounded to the nearest five (5) units
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Strong Strategic Partner With Swiss Co
PX Precinox (www.pxgroup.com)
• Is one of 10 companies under the PX Group
• Experts in precious metal refining
• Mastered the process of high quality refining to finishing
• A leading Swiss producer of gold bars
• Partner of the PX Impact Gold Program
DNG – TSX | DNGDF - OTC (Q)dynacor.com 23
Circulating New PX Impact Gold
A lasting & positive contributionto the economic, social and environmental development of our mining communities
Environmental, social and ethical practices that respect human rights are an integral
part of the PX Impact Gold program
Guarantees complete traceabilityacross the gold ore supply chain coming from
government registered miners in Peru
The fund finances projectsin health, education, economic dev & the environment
of the mining communities
An investment premium flows back to
our miner’s
communities
100% of the premiumis paid into the fund and
reinvested into our mining communities
PX ImpactEquals
Ethical Gold
DNG – TSX | DNGDF - OTC (Q)dynacor.com 24
Our Exploration Asset, Tumipampa
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
• 500 km southeast of Lima
• 9,480 ha
• Surface results pending
• Drilling planned for 2018
(drill results)
• 21,610 meters of drill results
• 2,881 meters of underground
workings
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Concession Map
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
CONCESSION MAP
TUMIPAMPA IV 2014
TUMIPAMPA III 2014
TUMIPAMPA VB 2014
TUMIPAMPAVI 2014
TUMIPAMPA VII 2014
TUMIPAMPA VIII 2014
PROYECTO TUMIPAMPA
MERIDIAN(HORIZONTE)
BARRICK
GOLDENIDEALGOLD
MINING
SUPERSTRONG
MERIDIAN(HORIZONTE)
MERIDIAN(HORIZONTE)
ORTEGA
TRIVEÑO
ORTEGA
ORTEGA ORTEGA
ORTEGA
CHANCADORA CENTAURO
IAM GOLD
SOUTHERNPERU
TAPAIRIHUAJA(VETADORADA)SOUTHERNPERU
BARRICKFRESNILLO PERU
SOUTHERNBARRICK
ANGLOAMERICAN
FRESNILLO PERU
BEER CREEK
CONCESIONES TUMIPAMPA
9755.60 Aprox. Has -Área neta
Total 22 Concesiones
Escala Gráfica
PETITORIOS EN DISPUTADESDE EL 2014
0 1 2km
ZONAS LIBRES
CONCESIONES PERSONASNATURALES Y/O PPM
TUMIPAMPA IX 2014
TUMIPAMPAX 2014
TUMIPAMPAXI 2014
TUMIPAMPAXII 2014
NICOLE 11
DISEMINADOTUMIPAMPA
V 2014
MINERA DEL NORTE SA
26
Geological Map Of Disseminated Zone
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
0 1 KM
N
Sym >=Minimum <Maximum
0.00 < 0.05
0.05 0.10
0.10 0.30
0.30 1.00
1.00 3.00
>= 3.00 100.00
Au (gr/tn)
Mármol
Km-Fe
Cuarzomonzonita
Laguna
patacocha
31.16 g/t AuVeta sondoro
22.09 g/t Au
7.38 g/t Au
4.86 g/t Au
9.01 g/t Au3.66 g/t Au
3.35 g/t Au
SECCION L 37800
35. 58 g/t AuBx. Adriana
11.30 g/t Au5.06 g/t Au4.56 g/t Au
19.49 g/t Au
3.17 g/t Au3.57 g/t Au
6.15 g/t Au
8.21 g/t Au7.63 g/t Au
18.18 g/t Au
16.79 g/t Au
10.94 g/t Au
28.60 g/t Au
Caliza Km-Fe
1.26 %/Cu
LEYENDA
BOFEDAL
CUARZO MONZONITA
MARMOL (Ki- Fe)
CALIZA (Ki-Fe)
CUARCITA
FALLA
VETAS
CUARZO DIORITA
EXOSKARN
CUATERNARIOLAGUNASANOMALIA CARGABILIDAD
Manto LuchaANOMALIA 2
ANOMALIA 3
ANOMALIA 4
ANOMALIA 1
ANOMALIA 5
ANOMALIA 6
Veta Cuyana
Cuerpo Sumac
27
Appendix A – Foot Notes
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
EBITDA: “Earnings before interest, taxes and depreciation” is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets bases, effects due to different tax structures as well as the effects of different capital structures. EBITDA is calculated on p.8 of this MD&A. See the “Non- IFRS Measures” section 15 of this MD&A.
Cash-flow per share is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. This measure is calculated on p.8 of this MD&A. See the “Non-IFRS Measures” section 15 of this MD&A. The Corporation uses this non-IFRS measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.
Net cash-flow from operating activities before change in working capital per share is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another Corporation. See the “Non-IFRS Measures” section 15 of this MD&A. The Corporation uses this non-IFRS measure which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.
28
Appendix A – Foot Notes
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
Cash cost of sales is the cost of sales and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation.
Cash gross operating margin is calculated by deducting to the sales the cash cost of sales and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another corporation.
Average cash cost of sales is calculated by dividing the cash cost of sales by sales volume in ounces and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.
Cash gross operating margin per equivalent ounce Au is calculated by subtracting the average cash cost of sale per equivalentounces of Au from the average selling price per equivalent ounces of Au and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.
These non-IFRS measures are used by management as indicators of the gross amount of cash which could be generated from the production of one unit (ounce) of gold.
29
Appendix B – Senior Management
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
JEAN MARTINEAUPRESIDENT & CEOJean Martineau has been the CEO and president of Dynacor Gold Mines since 2007 when the company was listed. He has worked in the Canadian mining industry for more than 25 years as a director of junior exploration companies and as an investment broker. During the last 20 years he has focused on South America and has acquired an in depth knowledge in the management of natural resource companies in South America. His Latin American expertise has been of prime importance in the development of Dynacor Gold Mines’ operations in Peru.
JORGE LUIS CÁRDENASGENERAL MANAGER, PERUJorge Luis Cárdenas is an experienced mining engineer and a member of the Colegio de Ingenieros del Perú. He has more than 25 years’ experience in gold and copper mining and holds a degree engineering (1990) and a Masters in mine management (2006). From 1996 to 2003 he was Plant Superintendent for Minera Dynacor del Perú, a Dynacor Gold Mines Inc. subsidiary. From 2004 to 2007, he was Operations Manager and was promoted to General Manager of Dynacor Gold Mines inc. in Peru in December 2007.
Jorge Luis has been the driving force behind the very successful development of the company’s custom milling business in Peru. He is an exceptionally talented top level executive who has a team of dedicated managers in Peru. Jorge Luis now focussed on aggressively growing the company’s custom milling business.
ALONSO SÁNCHEZCHIEF GEOLOGISTAlonso Sanchez holds a MSc in Geology and a degree in Engineering from the Universidad National de Ingeniería (1995). He worked for 11 years for Buenaventura S.A.A. (Peru), the largest mining Peruvian mining company; 5 years as mine geologist and 6 years as exploration geologist. He has an in-depth knowledge of epithermal gold, silver, tin, tungsten and polymetallic deposits, as well as Skarn-type deposits in both Peru and Bolivia. He acts as the qualified person (“QP”) for the Company, and is a geologist affiliated to the American Institute of Professional Geologists (AIPG).
LÉONARD TEOLIVICE-PRESIDENT AND CFOLéonard Teoli began his career with Price Waterhouse, in 1987 where he served clients in the mining industry until 1996. From 2003 to 2008 he was CFO of Diabras Exploration where he participated in the start-up in 2006 of a pilot mining operation in Mexico. Since then he acted as consultant and CFO for a couple of exploration companies with projects in Canada and Morocco. He joined Dynacor’s management team as Vice-President and CFO after cumulating over 20 years of experience as an accounting and finance executive with several Canadian junior mining companies involved in exploration project worldwide. He is a member of the Canadian Institute of Chartered Accountants since 1990.
30
Appendix B – Directors
dynacor.com DNG – TSX | DNGDF - OTC (Q)dynacor.com
PIERRE LÉPINECHAIRMAN OF THE BOARD OF DIRECTORSMr. Lépine is Executive Vice-President and co-founder of Group ABP one of Canada’s leaders in the event industry. He previously acted as Manager Private Placement at la Caisse de dépôt et placement du Québec from 2006 to 2008 and was Vice-President Corporate Development at GL&V Inc. from 1998 to 2005 where he was in charge of all mergers and acquisitions activities. M. Lépine started his career at Price Waterhouse where he spent 7 years from 1989 to 1996 and was assistant VP Corporate Finance. He is a member of l’ordre des comptables professionnels agréés du Québec.
JEAN MARTINEAUPRESIDENT & CEO
MARC DUSCHESNECHAIRMAN OF THE GOVERNANCE COMMITTEE & COMPENSATION COMMITTEEMarc Duchesne holds a Bachelor of Business Administration, Majoring in Accounting from University of Sherbrooke, obtained in 1981. He is a member of the Order of the Chartered Professional Accountants. Since 2011, he has been a consultant. From 2006 to June 2011, he was senior vice president of Finance for Consolidated Thompson Iron Mines Ltd.
ROGER DEMERSCHAIRMAN AUDIT COMMITTEE,Roger Demers currently serves as Chairman of Dynacor Gold’s Audit Committee and sits on several other Boards of Directors and audit committees. Mr. Demers, FCA, is a Fellow member of the l’Ordre des ComptablesAgréés du Québec and has extensive expertise in the financial and public accounting sectors having contributed over the last 30 years as a partner at Raymond Chabot Grant Thornton (RCGT). He is also a certified corporate director “Administrateur de sociétés certifié (ASC)”.
EDDY CANOVAEddy Canova has 35 years’ worldwide experience advancing mineral exploration projects to development stages in precious metals, base metals, iron ore, industrial minerals and uranium. He is currently Senior Vice-President for Rogue Resources Inc., since November 2014 advancing the project to PEA stage. He was Director of Exploration Manager for Oceanic Iron Ore Corp. from 2010 to 2014 doubling the reserves to 1.36 BT of iron ore at a Pre-feasibility stage. Mr. Canova has also held positions with Alexandria Minerals Corporation (Senior VP), Eastmain Resources, Bolivar Goldfields Ltd., Gold Reserve, Monarch Resources, GPR Ltd, Aunor Resources Inc., Uranerz Energy Corporation, Canadian Royalties Inc., and Admiral Bay Resources Inc. He is a certified professional geologist of Québec (OGQ).
RÉJEAN GOURDEMr. Gourde is currently the President and CEO of Reunion Gold Corporation which is actively involved in exploration projects in Guyana and French Guyana. Réjean has also worked as a consultant with major gold producers such as IAMGOLD, AGNICO EAGLE MINES, SEMAFO, and OREZONE and was a senior Vice President for CAMBIOR for South America until 2006.
ISABELLE ROCHAIsabelle Rocha is a chemical engineer holding a master in Environmental Science and an MBA from Carabobo University, Venezuela, with over thirty years of diverse experience in Canada and Latin America, Europe and Asia in the fields of environment, environmental engineering, corporate and social responsibility, environmental project management and business development. Isabelle Rocha retired in 2016. From 2014 to 2016, she was Environment Counsel for GILDAN ActiveWear, where she was also Corporate Manager, Environment from 2006 to 2014.
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