The Company is a minerals investment, management, and exploration company,
and currently conducting test mining and pilot milling operations through an
operating subsidiary in México, with specific focus on precious and base
metals in México. The Company was originally incorporated in the State
of California on September 28, 1937, under the name West Coast Mines, Inc. In
November 1998, the Company re-domiciled from California to Delaware and changed
its name to DynaResource, Inc. (“DynaUSA”).
We currently conduct operations in México through our operating subsidiaries.
We currently own 80% of the outstanding shares of DynaResource de México,
S.A. de C.V. (“DynaMéxico”). DynaMéxico owns 100%
of mining concessions, equipment, camp and related facilities which comprise
the San Jose de Gracia Property, in northern Sinaloa State, México. We
also own 100% of Mineras de DynaResource S.A. de C.V. (“DynaMineras”),
the exclusive operator of the San José de Gracia Project, under contract
with DynaMéxico.
In 2000, the Company formed DynaMéxico for the purpose of acquiring
and holding mineral properties and mining concessions in México. DynaMéxico
owns a portfolio of mining concessions which comprise the San José de
Gracia Project (“SJG”). The mining concessions which comprise the
SJG District cover 69,121 hectares (170,802 acres) on the west side of the Sierra
Madre mountain range. At the incorporation of DynaMéxico, 100 shares
of Fixed Capital Series “A” shares were issued with DynaUSA receiving
99 shares and its CEO receiving 1 share.
In 2005, the Company formed Mineras de DynaResource S.A. de C.V. (“DynaMineras”),
a wholly owned subsidiary. DynaMineras entered into an operating agreement with
DynaMéxico on April 15, 2005. As a consequence of that agreement and
subsequent amendments to that agreement, DynaMineras is the exclusive operating
entity for the SJG Project.
Also in 2005, the Company formed another wholly owned subsidiary, DynaResource
Operaciones, S.A. de C.V. (“DynaOperaciones”). DynaOperaciones entered
into a personnel management agreement with DynaMineras and, as a consequence
of that agreement, is the exclusive management company for personnel and consultants
involved at the SJG Project.
From January 2008 through March 2011, DynaMéxico issued 100 Variable
Capital Series “B” Shares to Goldgroup Resources Inc., a wholly
owned subsidiary of Goldgroup Mining Inc., in Vancouver, BC. (“Goldgroup”),
in exchange for Goldgroup’s total capital contributions of $18,000,000
to DynaMéxico. At the time of the issuance of the 100 Series B Shares
to Goldgroup, Goldgroup owned 50% of the outstanding capital shares of DynaMéxico.
257.79 %