Dynacor Group reported record annual production and net income, generating its 13th year of profit.

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2024Mar 27

240327 Montreal-based Dynacor Group (TSX:DNG), a dividend-paying industrial gold ore processor, has reported record annual production and record net income, generating its thirteenth consecutive year of profit. Record breaking sales came in at US$250.2 million, an increase of 26.7% compared to 2022, based on record production of 130,001 gold equivalent ounces. Net income of US$15.1 million, an increase of +25.8% compared to 2022, resulted in earning per share of US$0.39 or CDN$0.53. The company pays a monthly dividend of CDN$0.14 per share annually, following a $0.02 per share increase in January, which represents an annual dividend yield of 3.14%, based on the current share price of $4.40 on the Toronto Stock Exchange. There are currently 36,523,356 shares outstanding, following the repurchase of 1,127,397 shares during 2023. Dynacor purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant, strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. During 2024, Dynacor plans to invest up to US$13 million in capital expenditures, primarily at the Veta Dorada plant for new equipment to improve efficiency, increase tailing pond capacity, vehicles to support the security of its purchasers working in remote areas and will include, upon favourable conditions, up to $4 million to pursue the due diligence process and development of new projects in other jurisdictions. Thanks to its high level of ore inventory at the opening of the year and the high volume of ore supplied and purchased, the mill has been able to operate at full capacity throughout the year averaging a new daily record processing rate of 468 tpd. 2023 was the first full year of operation at the new processing capacity of 500 tonnes per day. Despite the significant increase in the level of ore inventory, which at the year end sat at 21,000 tonnes representing more than 40 days of production throughput, cash on hand remained solid at US$22.5 million. For more financial details, please refer to today’s news release. The company also owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department, and 100% of the Anta property, a silver/gold/copper exploration project located 72 km west of Nazca in Southern Peru. Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities. For more information please visit the company’s website www.dynacor.com, or contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com. #DynacorGroup #DNG #GoldOreProcessing #GoldProduction #FinancialResults #AnnualProduction #NetIncome #Dividend #Investment #CapitalExpenditures #VetaDorada #Peru #Tumipampa #Anta #PXIMPACT #GoldProgram #EnvironmentalResponsibility #SocialResponsibility #InvestorRelations #TSX #TorontoStockExchange #Mining #RecordProduction #Earnings #ArtisanalMining #SmallScaleMining #LuxuryJewelry #Watchmakers #InvestmentSector #GoldMarket #CorporateUpdate