Dynasty Gold Corp.

Dynasty Gold Corp. is a Canadian mining company that operates in Canada, China and the United States.

Dynasty Gold Corporation
FormerlyLucero Resources
TSX: DYG
IndustryMining
Headquarters
Vancouver
,
Canada
Key people
Ivy Chong, President & CEO
SubsidiariesTerrawest Minerals Inc.
Websitedynastygoldcorp.com

Description

Dynasty Gold Corporation is a gold and silver mining company with headquarters on Granville Street in Vancouver, Canada. The company is led by Ivy Chong, the president and CEO,[1] Larry Kornze is the Vice President of Exploration.[2] Previously, geologist Jonathan George led the company with Stuart Angus as the corporate secretary.[3]

The company is not a member of the Mining Association of Canada.[4]

Terrawest Minerals Inc. is a fully owned subsidiary of Dynasty Gold Corp[5] and operates in the People's Republic of China.[6]

Activities

The company owns the Thundercloud Property, which is located 47 kilometres west of Dryden, Ontario[7] in the central Wabigoon greenstone belt of Ontario, Canada.[8] It also has 70% ownership[4] of the 1,000 square kilometre[9] Hatu gold mine in Tuoli County[3][4] in Xinjiang, China[10][11] Dynasty Gold started the gold mine in May 2003.[3]

In 2004 Dynasty Gold was an 80% shareholder of joint ventures in Hami, Xinjiang, the Red Valley project in Qinghai and the Wildhorse project in Gansu.[3] The Red Valley and Woldhorse projects are located on the Qilian metallogenic belt.[3]

The company also owns the Golden Repeat property in Midas, Nevada.[12]

History

Initially the company was called Lucero Resources and operated in gold and copper mining in Chile.[3]

In 2003, the company became one of the first Canadian mining companies to operate in China.[9]

In 2022, the company's Thundercloud property was estimated to hold 182,000 ounces of gold. The company purchased the property from Teck Resources.[7]

The company's Qi2 gold mine in Hatu, China has an estimated 546,000 ounces of gold.[4] Since 2016,[2] the company was engaged in a legal dispute its business partner, the state mining company Xinjiang Non-Ferrous Metals Group.[4]

After not receiving a satisfactory response to 2022 enquiries about the company's possible use of Uyghur forced labour in China, the Canadian Ombudsperson for Responsible Enterprise announced a probe into the company on July 11, 2023.[13][14][15] The company had previously been named in a 2020 report by the Australian Strategic Policy Institute, along with Nike Canada, as companies who used Uyghur forced labour. The company claimed that it does not have operational control of the mine.[16]

See also

References
  1. "DYG.V - | Stock Price & Latest News | Reuters". Reuters. Archived from the original on 2023-07-11. Retrieved 2023-07-11.
  2. "Dynasty Gold exploring Ontario and Nevada gold projects". Resource World Magazine. 2021. Archived from the original on 2023-03-21. Retrieved 2023-07-12.
  3. Thomae, Barbara (1 November 2004). "Dynasty Gold makes splash in western China". The Northern Miner.
  4. "Canadian firms operate in China's Xinjiang region". The Globe and Mail. 2021-01-18. Archived from the original on 2023-05-09. Retrieved 2023-07-11.
  5. Condensed Interim Financial Statements, September 30, 2022 and 2021 (PDF) (Report). Dynasty Gold Corp. 2022. p. 7.
  6. "Terrawest Minerals Inc". www.bloomberg.com. Retrieved 2023-07-12.
  7. "Dynasty Gold reports inferred resource for Thundercloud in Ontario". Canadian Mining Journal. 2022-01-05. Archived from the original on 2022-02-14. Retrieved 2023-07-11.
  8. "Dynasty Gold extends length, grade of mineralization at Thundercloud in Ontario". 20 June 2023.
  9. "Dynasty Gold fights to retain assets in China". The Northern Miner. 26 October 2018.
  10. Tunney, Catherine (11 July 2023). "Watchdog probing claims that Nike Canada, gold company benefiting from forced Uyghur labour". CBC. Archived from the original on 11 July 2023. Retrieved 11 July 2023.
  11. Shakil, Ismail; Rajagopal, Divya; Rajagopal, Divya (2023-07-11). "Canada probes Nike, Dynasty Gold over alleged use of forced labor in China". Reuters. Archived from the original on 2023-07-11. Retrieved 2023-07-11.
  12. "Dynasty Gold Corp". Dynasty Gold Corp. Archived from the original on 2023-02-04. Retrieved 2023-07-11.
  13. Karim, Naimul (11 July 2023). "Canada watchdog to probe complaints against Nike, Dynasty Gold on use of Uyghur forced labour". Financial Post. Archived from the original on 11 July 2023. Retrieved 11 July 2023.
  14. Chase, Steven; Robertson, Susan Krashinsky (2022-04-11). "Canadian watchdog asked to probe allegations that imports made with forced labour in China". The Globe and Mail. Archived from the original on 2023-06-03. Retrieved 2023-07-11.
  15. "Canada probes Nike, Dynasty Gold on forced Uighur labour in China". Al Jazeera. 11 July 2023. Archived from the original on 2023-07-12. Retrieved 2023-07-12.
  16. "Canada probes Nike, Dynasty Gold over alleged use of Uyghur forced labour". BBC News. 2023-07-12. Archived from the original on 2023-07-12. Retrieved 2023-07-12.
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