VANCOUVER, British Columbia, Feb. 24, 2022 (GLOBE NEWSWIRE) — Montreal-based Dynacor Gold Mines (TSX:DNG), a dividend-paying industrial gold ore processor, has provided financial and capital guidance for 2022. The company finished off a great 2021, with annual gold sales exceeding 100,000 ounces, a new yearly record.
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Dynacor is forecasting gold and silver sales for 2022 of between US$200 to US$220 million (CDN$254 to CDN$279 million), an increase of 4% to 14% over the final production sales for 2021. This would result in net income for 2022 in a range of between US$11 to US$13 million or US$0.28 to US$0.33 earnings per share, based on 38.6 million shares outstanding. In Canadian dollars that would be CDN$0.36 to CDN$0.42 earnings per share, representing growth of 22% to 37% over the company’s 2021 revised guidance.
Based on its 2022 capital budget, operating activities, and expansion development, the company expects to generate significant additional free cash flow in 2022, forecasting US$14 to US$16 million, or US$0.37 to US$0.42 cash flow per share.
Dynacor is budgeting between US$5 – $8 million for capital expenses in 2022, which includes sustainable capital at the Veta Dorada plant for additional capacity expansion following the 25% increase in throughput in 2021, when the plant was expanded from 345 to 430 tonnes per day. This also includes US$1.0 million for an 8-hole diamond drilling program, totalling 2,735 meters, at the company’s 100% owned, advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.
Dynacor, an international gold ore industrial company 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 increased its monthly dividend twice during 2021 and currently pays 10 cents per share on an annual basis.
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 company has a new presentation on their website, which includes this slide showing plans for three more processing plants over the next 3 to 5 years.
The shares are currently trading at $3.19. For more information, please refer to the company’s news release, 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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