DYNACOR GROUP INC - DNGDF STOCK NEWS

Dynacor Group, a dividend-paying international industrial gold ore processor based in Montreal, reported a 4.5% increase in gold sales for March 2023, totaling US$19.5 million (CDN$26.7 million), compared to US$18.7 million (CDN$23.7 million) in March 2022.

In the first quarter of 2023, gold sales reached US$56.7 million (CDN$76.7 million), marking a 13.2% increase compared to US$50.1 million (CDN$63.5 million) in Q1 2022. The average price of gold in March was US$1,918 per ounce, down from US$1,935 in March 2022.

Due to political unrest in Peru, exports were postponed in early 2023. The company expects 2023 sales guidance between US$210 million and US$235 million and has increased its annual dividend to CDN$0.12 per share.

Dynacor Group, a Montreal-based industrial gold ore processor, reports its 12th consecutive annual profit with a historic net income of US$12.0 million for 2022, up from US$11.8 million in 2021. The net income per share rose to US$0.31.

Total sales reached US$197.5 million, driven by record production of 110,359 gold equivalent ounces. For 2023, Dynacor projects sales between US$210 million and US$235 million, assuming gold prices remain stable. The company maintains a healthy cash position of US$25.6 million and continues to pay monthly dividends, which were increased to CDN$0.12 annually.

Dynacor Group, an international industrial gold ore processor, has raised its 2023 earnings guidance, projecting total gold sales to grow by 6.5% to 20% over 2022, estimating revenues between US$210 million and US$235 million.

The net income is expected to range from US$8.5 million to US$11.5 million, translating to earnings per share of US$0.22 to US$0.30. The company plans to invest US$7 million in capital expenditures for its Veta Dorada plant.

Management anticipates cash flow from operating activities to be between US$12.5 million and US$15.5 million. The next update will be in May during the quarterly earnings report.

Dynacor Group Inc (TSX:DNG) has announced a 20% increase in its monthly dividend, now set at $0.01 per share, translating to an annual yield of 4.27% based on the current price of $2.81. This marks the fourth dividend increase since its initial payment in October 2018, underscoring management's confidence in the company’s ability to generate robust earnings and cash flows. The company operates in gold ore processing and has recently expanded its processing capacity to 500 tonnes per day at its Veta Dorada plant in Peru, becoming a top gold exporter in the region.

Dynacor Group Inc. (DNGDF) announced a monthly dividend of C$0.0083 per share, payable on December 19, 2022, to shareholders on record by December 9, 2022. This marks the 33rd dividend and 23rd monthly payment. The dividend is classified as an “eligible dividend” for Canadian tax purposes. Future dividends will depend on the corporation’s financial health, cash needs, and other factors. Dynacor is involved in gold processing from artisanal and small-scale mining, operating chiefly in Peru, and plans expansion into new markets.

Dynacor Group has successfully expanded its gold ore-processing plant in Peru, increasing capacity by 16% to 500 tonnes per day. This follows a previous 25% increase in mid-2021. The company is now among Peru's top nine gold exporters, with over 9,000 tonnes of ore inventory, enough for 20 days of production. The total investment for the expansion was $0.8 million, enhancing various operational aspects. CEO Jean Martineau noted a rising demand from artisanal miners, supported by the formalization of small-scale mining in Peru.

Dynacor Group has announced the successful completion of its Veta Dorada plant capacity expansion to 500 tpd, enhancing gold ore processing capacity by 16%. This follows a previous 25% increase in mid-2021. The ore inventory has risen to over 9,000 tonnes as of September, with an estimated processing of over 13,000 tonnes scheduled for November. Total investment for this expansion was approximately $0.8 million. Dynacor has become the ninth gold exporter in Peru for the first nine months of 2022, highlighting its growing network in artisanal and small-scale mining.