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InvestmentPitch Media Video Discusses Dynacor Group's Reported Record Annual Production and Record Net Income, Generating Its 13th Consecutive Profitable Year
Vancouver, British Columbia--(Newsfile Corp. - March 28, 2024) - Montreal-based Dynacor Group Inc...
About this update from Dynacor Group Inc
[{"type":"text","content":"InvestmentPitch Media Video Discusses Dynacor Group's Reported Record Annual Production and Record Net Income, Generating Its 13th Consecutive Profitable YearVancouver, British Columbia--(Newsfile Corp. - March 28, 2024) - Montreal-based Dynacor Group Inc (TSX: DNG), a dividend-paying international 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.Cannot view this video? Visit:https://www.youtube.com/watch?v=TxFPWhqdHRMFor more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. If you are unable to view this video, please watch it on InvestmentPitch Media's YouTube Channel at this link: (click here) 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 ...