Dynacor Group achieves record annual production, generating US$15.1 Million in net income for 2023

Dynacor's impressive performance in 2023 underscores its commitment to operational excellence and financial growth, positioning the company as a leader in the industry.

Dynacor, headquartered in Montreal, Canada, is a dividend-paying industrial gold ore processor. The company specializes in gold production through the processing of ore sourced from the artisanal and small-scale mining (ASM) industry. Operating primarily in Peru, Dynacor benefits from its management and processing teams' extensive experience in collaborating with ASM miners. Additionally, the company holds ownership of a gold exploration property, Tumipampa, located in the Apurimac department.

The company has wrapped up 2023 with remarkable accomplishments, securing its thirteenth consecutive year of profitability. Dynacor achieved a historic production milestone by producing 130,001 AuEq ounces, resulting in total sales of $250.2 million (CA$337.6 million), marking a notable increase of +26.7% compared to 2022. Additionally, Dynacor reported a net income of $15.1 million (US$0.39 or CA$0.53 per share), reflecting a significant uptick of +25.8% compared to the previous year.

In 2023, Dynacor achieved a significant milestone with the first full year of operations at a processing capacity of 500 tonnes per day. Thanks to a robust ore inventory at the year's outset and consistent ore supply, the mill consistently operated at full capacity, setting a new daily processing rate record of 468 tonnes per day.