Dynacor Group provided earning guidance for 2024, with gold sales projected to increase 6% to 14%.
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Montreal-based Dynacor Group (TSX:DNG), a dividend-paying industrial gold ore processor, has provided earning guidance for 2024, with goldsales projected to increase by 6% to 14%.
Management anticipates annual gold sales will come in between US$265 million and US$285 million, with net income estimated to reach between US$12 to $15 million.
These numbers are based on gold trading between US$2,000 and US$2,050 per ounce along with various other production estimates such as ore grades.
Net income per share is estimated to be between CDN$0.45 and CDN$0.56 per share with 36,523,356 shares outstanding.
The company pays a monthly dividend of CDN$$0.14 annually, which represents an annual dividend yield of 3.46% based on the current share price. The shares are currently trading at $4.05 on the Toronto Stock Exchange.
The shares are currently trading at $4.05 on the Toronto Stock Exchange.
Dynacor, an international gold ore industrial company, 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.
Cash flow from operating activities, before changes in working capital items, is expected to be between US$15 and US$18 million.
During the year, Dynacor plans to invest up to US$13 million in capital expenditures primarily at its Veta Dorada plant for new equipment to improve efficiency and increase tailing pond capacity, as well as develop new projects in other jurisdictions.
Jean Martineau, President and CEO, stated: "Dynacor Group is committed to creating long-term value for our shareholders. Our team of talented professionals is dedicated to driving growth and implementing cost-efficient measures to support the continued expansion of our ASM gold ore-processing business. With this unwavering commitment to excellence, we remain optimistic about the future of our company and confident in the opportunities that lie ahead."
The company also owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.
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 [email protected].
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