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InvestmentPitch Media Video Discusses Dynacor Group’s Increased Earning Guidance for 2023

InvestmentPitch Media and Dynacor Group Inc.
InvestmentPitch Media and Dynacor Group Inc.

VANCOUVER, British Columbia, March 03, 2023 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Group Inc (TSX:DNG), a dividend-paying international industrial gold ore processor, has announced increased earning guidance for 2023. Management projects that total gold sales will increase between 6 ½% and 20% above 2022 sales, reaching between US$210 million (CDN$284m) and US$235 million (CDN$318m).

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Dynacor” in the search box.

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Net income is estimated to reach between US$8.5 million and US$11.5 million, or between US$0.22 (CDN$0.30) and US$0.30 (CDN$0.41) per share. Cash flow from operating activities, before changes in working capital items, is expected to be between US$12.5 million and US$15.5 million, or between US$0.33 (CDN$0.45) and US$0.41 (CDN$0.55) per share.

These forecasts are based on gold trading in a range between US$1,800 and US$1,900 per ounce during the year, and other production assumptions, including ore grades.

Jean Martineau, President and CEO, stated: “Our team is fully committed to creating value for our shareholders by executing well-planned, low-risk expansions, increasing monthly dividends, and implementing share buybacks that drive cash returns when capital management criteria are met.”

The company is currently paying $0.01 per share on a monthly basis. To achieve these goals, Dynacor Group plans to invest up to $US 7.0 million in capital expenditures in 2023 at its Veta Dorada plant for new efficiency improvement equipment, increasing tailing pond capacity and additional vehicles for the ore purchase team.

Jean Martineau, President and CEO, added: “Dynacor Group is committed to creating long-term value for our shareholders, even as we navigate the challenges of today's economic environment. 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 next guidance update will be provided during the company’s quarterly earnings report in May.

Dynacor purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru.

The company owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department. Dynacor has also budgeted approximately $1.0 million to advance other projects in other jurisdictions.

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.

The shares are currently trading at CDN$2.93 on the Toronto Stock Exchange, with 38.4 million shares outstanding. 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.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Dynacor Gold Mines has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd, through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com