Latest news with #DynacorGroupInc
Business Wire
15-05-2025
- Business
- Business Wire
Dynacor Further Improves Financial Performance with Net Income of $5.1 Million and Record Quarterly Sales of $80 Million in Q1-2025
MONTREAL--(BUSINESS WIRE)-- Dynacor Group Inc. (TSX: DNG) ('Dynacor' or the 'Corporation') today announced its unaudited financial and operational results 1 for the first quarter ended March 31, 2025. Record sales and robust financial results: Record sales of $80.0 million, an 18.2% increase from Q1-2024. EBITDA 2 of $7.3 million, a 9.9% decrease from Q1-2024. Net income of $5.1 million, a 6.3% increase from Q1-2024. Operating cash flows before changes in working capital items of $5.8 million, a 3.6% increase from Q1-2024. Cash gross operating margin of $353 per AuEq ounce sold 3, compared to $305 in Q1-2024. Successful financing: Completed an offering of 5,750,000 common shares at a price of $3.84 (CA$5.50) per share, generating gross proceeds of $22,081,414 (CA$31,625,000). Steady mill performance: Processed 43,341 tonnes of ore (482 tpd) compared to 44,006 tonnes in Q1-2024 (484 tpd) Produced 27,050 AuEq ounces compared to 31,769 AuEq ounces in Q1-2024. 38,500 tonnes of ore supplied, and ore inventory of almost 7,000 tonnes at quarter-end. Solid financial position with cash and short-term investments of $59.3 million at the end of Q1-2025 compared to $25.8 million at year-end 2024. Advanced international expansion plans: Senegal: Preparatory work for the construction of a 50 tpd pilot plant is proceeding to plan. Ecuador: Executed a conditional letter of offer and indicative terms for the purchase of a 1,500 tpd permitted processing plant. Increased monthly dividends: Disbursed a monthly dividend representing CA$0.16 per share on an annual basis or a 3.3% dividend yield based on the current share price. Heightened health and safety, environment and social responsibility expertise at Veta Dorada through 9,735 hours of training. Impacted more than 1,000 people through investments in artisanal mining community education and health. 1 All figures are in US dollars unless stated otherwise. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding. 2 EBITDA: 'Earnings before interest, taxes and depreciation' is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets basis, effects due to different tax structures as well as the effects of different capital structures. EBITDA is calculated on p.13 of the MD&A. See the 'Non-IFRS Measures' section 18 of the Corporation's MD&A for the three-month period ended March 31, 2025. 3 Cash gross operating margin per AuEq ounce is in US$ and is calculated by subtracting the average cash cost of sale per equivalent ounce of Au from the average selling price per equivalent ounce of Au and is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure could not be comparable with a similar measure of another company. See the 'non-IFRS Measures' in section 18 of the Corporation's MD&A. Expand 2025 Outlook versus Actuals For 2025, the Corporation forecasts: Sales between $345-$375 million (YTD $80.0 million). Net income between $14-$17 million (YTD $5.1 million). Production between 120,000-130,000 AuEq ounces (YTD 27,050 AuEq ounces). Capital expenditures of up to $15 million in Peru and Senegal (YTD $1.3 million). Other project expenses of $3 million to achieve the 2025 growth plan (YTD $0.5 million). Initial guidance excludes ongoing capital expenditure on other projects and opportunities in Latin America and in Africa. Guidance is based on the following assumptions: No increase in processing capacity. Average market gold price of between $2,800 and $3,000 per ounce. The ore grade supplied may vary with the evolution of the gold price. So far in 2025, the Corporation is in line with its outlook. 'I am proud of the Dynacor team's dedication and focus, delivering record sales, solid production and strong financials in the first quarter, which can be the weakest quarter of the year due to the wet season. Despite external market turbulence, we also advanced our expansion plan decisively in the quarter through our conditional offer of intent to acquire a second plant in Latin America and tight oversight of our growth plans into Africa,' said Jean Martineau, President & CEO. 'We thank shareholders for their continued support in this year of significant execution and believe that Dynacor has never been better positioned.' Operations Overview The Chala plant continued operating at full capacity. Production was impacted by the supply of lower grade ore that is mainly due to the increasing gold market price. The decrease in the AuEq ounces produced is a direct result of the lower head grade processed compared to the same period in 2024. At the end of Q1-2025, the Corporation's stockpile held some 7,000 tonnes of ore compared to 12,000 tonnes at year-end 2024, reflecting the lower seasonal volume of ore supply in the period. Financial Overview Q1-2025 Quarterly Results During Q1-2025, the gold price increased from approximately $2,700/oz in January to approximately $3,000/oz in March, positively impacting the Q1-2025 financial performance. Total sales amounted to $80.0 million compared to $67.7 million in 2024. The $12.3 million increase is explained by a higher average gold price (+$22.3 million), partially offset by lower quantities of gold ounces sold (-$10.0 million) due to lower grades of ore processed. The Q1-2025 gross operating margin reached $9.0 million (11.2% of sales) compared to $9.1 million (13.5% of sales) in Q1-2024. Both quarters were positively impacted by the increasing gold market prices. General and administrative expenses amounted to $2.4 million in Q1-2025 compared to $1.7 million in Q1-2024. The increase is attributable to the growing management team to achieve the growth plan, the increase in salaries and the cost of the special Shareholders meeting that was held on April 16, 2025. Other projects represent the expenses incurred by the Corporation to duplicate its unique business model in the same or other jurisdictions. A $1.4 million income tax expense was also recorded during Q1-2025. The decrease as a percentage of the net income before taxes is mainly explained by the variance throughout the period of the Peruvian sol against the US$ which is the Corporation's functional currency. Future fluctuations will positively or negatively affect the current and deferred tax at the end of each period. Cash Flows, Working Capital and Liquidity Overview Investing activities In Q1-2025, Dynacor invested $1.3 million in capital expenditure including $0.8 million to increase the tailings pond capacity and other additions to maintain or improve the plant efficiency. All investments were financed with internally generated cash flow. Financing activities Offering of 5,750,000 common shares at a price of $3.84 (CA$5.50) per share, generating gross proceeds of $22,081,414 (CA$31,625,000) and incurring transaction costs of $1,648,652. In Q1-2025, monthly dividends of CA$0.0133 totaling CA$0.04 per share were disbursed for a total consideration of $1.1 million (CA$1.7 million). In Q1-2024, monthly dividends of CA$0.01167 totaling CA$0.035 per share were disbursed for a total consideration of $1.0 million (CA$1.3 million). Working Capital and Liquidity As at March 31, 2025, the Corporation's working capital amounted to $82.6 million, including $59.3 million in cash and short-term investments ($58.9 million, including $25.8 million in cash and short-term investments as at December 31, 2024). Consolidated Statement of Financial Position As at March 31, 2025, total assets amounted to $147.2 million ($125.3 million as at December 31, 2024). Major variances since year-end 2024 come from the significant increase in cash following the issuance of common shares in February 2025 and the decrease in ore inventory due to the rainy season which impacts the ore supply. Annual General Meeting The Corporation will hold its Annual General Meeting (AGM) for shareholders at 10 am on June 17, 2025. Webcast and further details on the AGM will be provided in the notice of meeting. About Dynacor Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on fully and part-formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company plans to expand to West Africa and within Latin America. The premium paid by luxury jewellers for Dynacor's PX Impact ® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. Forward-Looking Information Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Yahoo
15-05-2025
- Business
- Yahoo
Dynacor Further Improves Financial Performance with Net Income of $5.1 Million and Record Quarterly Sales of $80 Million in Q1-2025
MONTREAL, May 15, 2025--(BUSINESS WIRE)--Dynacor Group Inc. (TSX: DNG) ("Dynacor" or the "Corporation") today announced its unaudited financial and operational results1 for the first quarter ended March 31, 2025. Q1-2025 Highlights Record sales and robust financial results: Record sales of $80.0 million, an 18.2% increase from Q1-2024. EBITDA2 of $7.3 million, a 9.9% decrease from Q1-2024. Net income of $5.1 million, a 6.3% increase from Q1-2024. Operating cash flows before changes in working capital items of $5.8 million, a 3.6% increase from Q1-2024. Cash gross operating margin of $353 per AuEq ounce sold3, compared to $305 in Q1-2024. Successful financing: Completed an offering of 5,750,000 common shares at a price of $3.84 (CA$5.50) per share, generating gross proceeds of $22,081,414 (CA$31,625,000). Steady mill performance: Processed 43,341 tonnes of ore (482 tpd) compared to 44,006 tonnes in Q1-2024 (484 tpd) Produced 27,050 AuEq ounces compared to 31,769 AuEq ounces in Q1-2024. 38,500 tonnes of ore supplied, and ore inventory of almost 7,000 tonnes at quarter-end. Solid financial position with cash and short-term investments of $59.3 million at the end of Q1-2025 compared to $25.8 million at year-end 2024. Advanced international expansion plans: Senegal: Preparatory work for the construction of a 50 tpd pilot plant is proceeding to plan. Ecuador: Executed a conditional letter of offer and indicative terms for the purchase of a 1,500 tpd permitted processing plant. Increased monthly dividends: Disbursed a monthly dividend representing CA$0.16 per share on an annual basis or a 3.3% dividend yield based on the current share price. Heightened health and safety, environment and social responsibility expertise at Veta Dorada through 9,735 hours of training. Impacted more than 1,000 people through investments in artisanal mining community education and health. 1 All figures are in US dollars unless stated otherwise. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding. 2 EBITDA: "Earnings before interest, taxes and depreciation" is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure could not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets basis, effects due to different tax structures as well as the effects of different capital structures. EBITDA is calculated on p.13 of the MD&A. See the "Non-IFRS Measures" section 18 of the Corporation's MD&A for the three-month period ended March 31, 2025. 3 Cash gross operating margin per AuEq ounce is in US$ and is calculated by subtracting the average cash cost of sale per equivalent ounce of Au from the average selling price per equivalent ounce of Au and is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure could not be comparable with a similar measure of another company. See the "non-IFRS Measures" in section 18 of the Corporation's MD&A. 2025 Outlook versus Actuals For 2025, the Corporation forecasts: Sales between $345-$375 million (YTD $80.0 million). Net income between $14-$17 million (YTD $5.1 million). Production between 120,000-130,000 AuEq ounces (YTD 27,050 AuEq ounces). Capital expenditures of up to $15 million in Peru and Senegal (YTD $1.3 million). Other project expenses of $3 million to achieve the 2025 growth plan (YTD $0.5 million). Initial guidance excludes ongoing capital expenditure on other projects and opportunities in Latin America and in Africa. Guidance is based on the following assumptions: No increase in processing capacity. Average market gold price of between $2,800 and $3,000 per ounce. The ore grade supplied may vary with the evolution of the gold price. So far in 2025, the Corporation is in line with its outlook. "I am proud of the Dynacor team's dedication and focus, delivering record sales, solid production and strong financials in the first quarter, which can be the weakest quarter of the year due to the wet season. Despite external market turbulence, we also advanced our expansion plan decisively in the quarter through our conditional offer of intent to acquire a second plant in Latin America and tight oversight of our growth plans into Africa," said Jean Martineau, President & CEO. "We thank shareholders for their continued support in this year of significant execution and believe that Dynacor has never been better positioned." Operations Overview For the three-month periodsended March 31, 2025 2024 Volume processed (in tonnes) 43,341 44,006 Tonnes per day 482 484 AuEq ounces produced 27,050 31,769 The Chala plant continued operating at full capacity. Production was impacted by the supply of lower grade ore that is mainly due to the increasing gold market price. The decrease in the AuEq ounces produced is a direct result of the lower head grade processed compared to the same period in 2024. At the end of Q1-2025, the Corporation's stockpile held some 7,000 tonnes of ore compared to 12,000 tonnes at year-end 2024, reflecting the lower seasonal volume of ore supply in the period. Financial Overview For the three-month periodsended March 31, (in $'000) (unaudited) 2025 2024 Sales 79,968 67,733 Cost of sales (70,992) (58,585) Gross operating margin 8,976 9,148 General and administrative expenses (2,404) (1,704) Other project expenses (475) (214) Operating income 6,097 7,230 Financial income net of expenses 210 171 Foreign exchange gain (loss) 276 (59) Income before income taxes 6,583 7,342 Current income tax expense (1,773) (2,577) Deferred income tax recovery 339 16 Net income and comprehensive income 5,149 4,781 Earnings per share Basic $0.13 $0.13 Diluted $0.13 $0.13 Q1-2025 Quarterly Results During Q1-2025, the gold price increased from approximately $2,700/oz in January to approximately $3,000/oz in March, positively impacting the Q1-2025 financial performance. Total sales amounted to $80.0 million compared to $67.7 million in 2024. The $12.3 million increase is explained by a higher average gold price (+$22.3 million), partially offset by lower quantities of gold ounces sold (-$10.0 million) due to lower grades of ore processed. The Q1-2025 gross operating margin reached $9.0 million (11.2% of sales) compared to $9.1 million (13.5% of sales) in Q1-2024. Both quarters were positively impacted by the increasing gold market prices. General and administrative expenses amounted to $2.4 million in Q1-2025 compared to $1.7 million in Q1-2024. The increase is attributable to the growing management team to achieve the growth plan, the increase in salaries and the cost of the special Shareholders meeting that was held on April 16, 2025. Other projects represent the expenses incurred by the Corporation to duplicate its unique business model in the same or other jurisdictions. A $1.4 million income tax expense was also recorded during Q1-2025. The decrease as a percentage of the net income before taxes is mainly explained by the variance throughout the period of the Peruvian sol against the US$ which is the Corporation's functional currency. Future fluctuations will positively or negatively affect the current and deferred tax at the end of each period. Cash Flows, Working Capital and Liquidity Overview For the three-month periodsended March 31, (in $'000) (unaudited) 2025 2024 Operating activities Net income adjusted for non-cash items 5,799 5,651 Changes in working capital items 9,686 3,940 Net cash from operating activities 15,485 9,591 Investing activities Acquisition of property, plant and equipment and others (1,304) (718) Net cash used in investing activities (1,304) (718) Issuance of common shares 20,433 - Repurchase of common shares - (2,752) Dividends paid (1,115) (969) Other 56 55 Net cash from (used in) financing activities 19,374 (3,666) Change in cash during the period 33,555 5,207 Effect of exchange rate changes on cash (76) (13) Cash, beginning of the period 19,819 22,481 Cash, end of the period 53,298 27,675 Investing activities In Q1-2025, Dynacor invested $1.3 million in capital expenditure including $0.8 million to increase the tailings pond capacity and other additions to maintain or improve the plant efficiency. All investments were financed with internally generated cash flow. Financing activities Offering of 5,750,000 common shares at a price of $3.84 (CA$5.50) per share, generating gross proceeds of $22,081,414 (CA$31,625,000) and incurring transaction costs of $1,648,652. In Q1-2025, monthly dividends of CA$0.0133 totaling CA$0.04 per share were disbursed for a total consideration of $1.1 million (CA$1.7 million). In Q1-2024, monthly dividends of CA$0.01167 totaling CA$0.035 per share were disbursed for a total consideration of $1.0 million (CA$1.3 million). Working Capital and Liquidity As at March 31, 2025, the Corporation's working capital amounted to $82.6 million, including $59.3 million in cash and short-term investments ($58.9 million, including $25.8 million in cash and short-term investments as at December 31, 2024). Consolidated Statement of Financial Position As at March 31, 2025, total assets amounted to $147.2 million ($125.3 million as at December 31, 2024). Major variances since year-end 2024 come from the significant increase in cash following the issuance of common shares in February 2025 and the decrease in ore inventory due to the rainy season which impacts the ore supply. (in $'000) (unaudited) As at March 31, As at December 31, 2025 2024 Cash 53,298 19,819 Short-term investments 5,999 5,999 Accounts receivable 21,004 23,747 Inventories 19,162 29,376 Prepaid expenses and other assets 1,359 361 Property, plant and equipment 26,593 26,160 Exploration and evaluation assets 18,570 18,570 Right-of-use assets 1,045 1,070 Other non-current assets 159 159 Total assets 147,189 125,261 Trade and other payables 16,763 18,185 Asset retirement obligations 3,757 3,732 Current tax liabilities 1,290 2,125 Deferred tax liabilities 226 565 Lease liabilities 1,104 1,108 Share unit plan liabilities 333 389 Shareholders' equity 123,716 99,157 Total liabilities and shareholders' equity 147,189 125,261 Annual General Meeting The Corporation will hold its Annual General Meeting (AGM) for shareholders at 10 am on June 17, 2025. Webcast and further details on the AGM will be provided in the notice of meeting. About Dynacor Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on fully and part-formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company plans to expand to West Africa and within Latin America. The premium paid by luxury jewellers for Dynacor's PX Impact® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. Forward-Looking Information Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release. View source version on Contacts For more information, please contact: Ruth HannaDirector, Investor RelationsT: 514-393-9000 #236E: investors@ Website: Renmark Financial Communications FilipponeT: (416) 644-2020 or (212) 812-7680E: bfilippone@ Website:
Ottawa Citizen
28-04-2025
- Business
- Ottawa Citizen
Dynacor Announces Retirement of Mr. Léonard Teoli and Appointment of New Chief Financial Officer
Article content MONTREAL — Dynacor Group Inc. (TSX: DNG) ('Dynacor' or the 'Corporation'), today announced with deep gratitude the retirement of Mr. Léonard Teoli and the appointment of a new Chief Financial Officer. Article content Article content After a 14-year career at Dynacor and following a long-standing transition plan, Mr. Léonard Teoli will retire from the Corporation as Chief Financial Officer and Vice-President, Finance. He had informed both the CEO Jean Martineau and the board in June 2024 of his intention to retire after the 2024 year-end financial results. Article content Article content 'Léonard has ably shepherded our financial performance since our start-up period, while instilling the discipline to invest in priorities that set the stage for our next chapter,' said Jean Martineau, President and CEO. 'His experience and knowledge of the mining sector were of great benefit to Dynacor and have created an opportunity to build on a strong foundation. Over the past 14 years, he has been an invaluable partner to me and to the management team. I have greatly appreciated working with Léonard.' Article content 'Members of the Board of Directors join with members of the management team and Dynacor employees in congratulating Mr. Teoli for his durable contribution and for his greatly appreciated personality. We wish Léonard a fulfilling retirement, full of new adventures and precious moments with his loved ones.' Article content The Corporation is pleased to announce, effective May 1, 2025, the appointment of Stéphane Lemarié as new Chief Financial Officer and Vice-President, Finance. Stéphane is a seasoned accounting and finance executive with over 25 years of experience in senior auditing and finance management roles in multinational environments within both public and private corporations. He joined Dynacor in 2017 as Controller and Director of Financial Information where he has successfully stewarded the company's financial reporting and capital allocation. Prior to this, he spent three years at MPC (Technicolor) in Montreal where he held the key role of Financial Controller. Stéphane began his career in international finance as an auditor for KPMG in France, serving large industrial clients for 14 years. Article content 'As we begin to execute on our international expansion plans, Stéphane will bring a combination of financial, operational and sector expertise to complement our reinforced leadership team,' said CEO Jean Martineau. 'He has a track record of managing near-term performance and long-term planning, and he has a deep understanding of the complexities of our unique business model.' Article content About Dynacor Article content Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on fully and part-formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company plans to expand to West Africa and within Latin America. Article content Article content The premium paid by luxury jewellers for Dynacor's PX Impact® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. Article content Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release. Article content Article content Article content Article content Article content Contacts Article content
National Post
28-04-2025
- Business
- National Post
Dynacor Announces Retirement of Mr. Léonard Teoli and Appointment of New Chief Financial Officer
Article content MONTREAL — Dynacor Group Inc. (TSX: DNG) ('Dynacor' or the 'Corporation'), today announced with deep gratitude the retirement of Mr. Léonard Teoli and the appointment of a new Chief Financial Officer. Article content Article content After a 14-year career at Dynacor and following a long-standing transition plan, Mr. Léonard Teoli will retire from the Corporation as Chief Financial Officer and Vice-President, Finance. He had informed both the CEO Jean Martineau and the board in June 2024 of his intention to retire after the 2024 year-end financial results. Article content 'Léonard has ably shepherded our financial performance since our start-up period, while instilling the discipline to invest in priorities that set the stage for our next chapter,' said Jean Martineau, President and CEO. 'His experience and knowledge of the mining sector were of great benefit to Dynacor and have created an opportunity to build on a strong foundation. Over the past 14 years, he has been an invaluable partner to me and to the management team. I have greatly appreciated working with Léonard.' Article content 'Members of the Board of Directors join with members of the management team and Dynacor employees in congratulating Mr. Teoli for his durable contribution and for his greatly appreciated personality. We wish Léonard a fulfilling retirement, full of new adventures and precious moments with his loved ones.' Article content The Corporation is pleased to announce, effective May 1, 2025, the appointment of Stéphane Lemarié as new Chief Financial Officer and Vice-President, Finance. Stéphane is a seasoned accounting and finance executive with over 25 years of experience in senior auditing and finance management roles in multinational environments within both public and private corporations. He joined Dynacor in 2017 as Controller and Director of Financial Information where he has successfully stewarded the company's financial reporting and capital allocation. Prior to this, he spent three years at MPC (Technicolor) in Montreal where he held the key role of Financial Controller. Stéphane began his career in international finance as an auditor for KPMG in France, serving large industrial clients for 14 years. Article content 'As we begin to execute on our international expansion plans, Stéphane will bring a combination of financial, operational and sector expertise to complement our reinforced leadership team,' said CEO Jean Martineau. 'He has a track record of managing near-term performance and long-term planning, and he has a deep understanding of the complexities of our unique business model.' Article content About Dynacor Article content Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on fully and part-formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company plans to expand to West Africa and within Latin America. Article content Article content The premium paid by luxury jewellers for Dynacor's PX Impact® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. Article content Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release. Article content Article content Article content Article content Article content Contacts Article content Article content
Associated Press
16-04-2025
- Business
- Associated Press
Dynacor Announces Results from Requisitioned Meeting Called by Dissident Shareholder on April 16, 2025
MONTREAL--(BUSINESS WIRE)--Apr 16, 2025-- Dynacor Group Inc. (TSX: DNG) ('Dynacor' or the 'Corporation'), is pleased to announce that the results of the special meeting of shareholders (the ' Meeting ') held earlier today, showed a strong majority of the Corporation's shareholders voted in line with the board of directors' ('The Board') recommendations. A total of 27,171,760.4 shares representing 64.37% of the issued and outstanding shares were voted at the Meeting, with almost twice as many votes cast in support of the Board's recommendations compared to those cast for iolite. Shareholders voted as follows: Pierre Lépine, chair of Dynacor's Board, said, 'Today, Dynacor shareholders have voted overwhelmingly in support of our expansion strategy and the continuation of our unique and highly successful track record. 'I would like to thank all Dynacor's shareholders, both large and small, for rallying to support management and the board. I very much regret that this action has cost shareholders money and management time and invite Mr. Leitz to put aside his value-destructive crusade and respectfully rally with the majority of our shareholders for the benefit of all. We look forward to engaging with our shareholders, including iolite, and to renewing our short- and long-term focus on our business with this strengthened mandate to achieve our strategic plan.' The premium paid by luxury jewellers for Dynacor's PX Impact ® gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit for more information. View source version on CONTACT: Ruth Hanna Director, Investor Relations T: 514-393-9000 #236 E:[email protected] Website: KEYWORD: SWITZERLAND CANADA AUSTRIA NORTH AMERICA EUROPE GERMANY INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES SOURCE: Dynacor Group Inc. Copyright Business Wire 2025. PUB: 04/16/2025 04:20 PM/DISC: 04/16/2025 04:20 PM
