Dynacor Gold Mines

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Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and...

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Dynacor Gold Mines

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Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engage......

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19 hours ago

8020 Admin posted a press release Dynacor Declares Increased Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce the declaration of an increased dividend payment of CA $0.015 per common share, a 50% increase over the last quarter dividend, which will be payable on January 6th, 2020, to shareholders of record as of the close of business on December 19, 2019. The payment represents the sixth quarterly dividend payment made to shareholders. The Corporation continues to perform well, and this dividend increase reflects its solid cashflows and financial situation consistent with its operating and strategic objectives.


The Corporation’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.


The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.


ABOUT DYNACOR


Dynacor is a dividend paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from artisanal and small-scale miners (ASM). At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314 ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).


Dynacor produces environmental and socially responsible gold through its ‘’PX Impact’’ gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects to our ASM communities.


Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).

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.


Dynacor (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/c7f2191e-d8cf-490d-b220-d8296087a9a6


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8020 Admin

9 days ago

8020 Admin posted a press release Dynacor Announces 50% Increase to Its Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, announced today that its Board of Directors approved an increase in the Corporation’s quarterly dividend payment to CA $0.015 (annual CA $0.06 per share), a 50% increase.


Today’s announcement marks the first increase in the Corporation’s dividend history, which was launched on October 1, 2018. The decision to increase reflects management’s and the Board’s continued confidence in Dynacor’s select business model, which has proven over the years to deliver consistent earnings and free cash flow. With management’s new optimization strategy in operations steadily improving cost efficiencies, an increase in gold production and a stable or increasing gold price, the year 2020 should see Dynacor improving on its operating cashflows.           


Dynacor has reported profits for 34 consecutive quarters. The Corporation will continue to evaluate its dividend policy as it increases free cash flow and cash balances with the potential for further increases to its dividend. Since launching the first dividend on October 1, 2018, the Corporation has paid to shareholders five cash instalments amounting to CA $0.05 per common share.


The payment or increase of dividends is at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.       


ABOUT DYNACOR


Dynacor is a dividend paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from artisanal and small-scale miners (ASM. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314 ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).


Dynacor produces environmental and socially responsible gold through its ‘’PX Impact’’ gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects to our ASM communities.


Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).


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.


Dynacor (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com  


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8020 Admin

14 days ago

8020 Admin posted a press release Q3-2019: Dynacor Processes Record Volumes and Triples its Net Earnings in DYNACOR GOLD MINES

MONTREAL, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation), reports its financial results for its third quarter ended September 30, 2019.


The unaudited condensed consolidated financial statements and the management's discussion and analysis (MD&A) for the three-month and nine-month periods ended September 30, 2019, have been filed electronically with SEDAR at www.sedar.com and will be available on the Corporation's website www.dynacor.com.


(All figures in this press release are in millions of US$ unless stated otherwise. Earnings per share and cash flow per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).


For the three-month period ended September 30, 2019, Dynacor processed quarterly record volumes and completed its thirty fourth (34th) consecutive quarter of profits tripling its net income to $2.3 M ($0.06 per share), compared to $0.7 M ($0.02 per share) for the same period of 2018.


Q3-2019 OVERVIEW AND HIGHLIGHTS


Total tonnes processed during the quarter increased by 16.8% from 22,615 in Q3-2018 to 26,421 in Q3-2019. At the same time, gold production increased by 11.3% from 19,982 to 22,230 ounces. The variance is mainly due to lower grades of the ore processed compared to 2018. This level of production represents approximately 50% of the revised production guideline for the second half of 2019 (ref. press release dated August 15, 2019). For the first time, production exceeded the daily named capacity of 300 tpd maintaining an average of 318 tpd (1) in September. In Q3-2019, the Corporation also increased its level of ore inventory to approximately 15 days of production at the end of September. The target is to continue increasing this level until the end of the year in order to mitigate the negative effects of the rainy season on the 2020 first quarter supply.


(1) Considering 1.5 days of programmed monthly maintenance

Operational and Strategic



  • Record quarterly volume of ore processed of 26,421 tonnes in Q3-2019 compared to 22,615 tonnes in Q3-2018;

  • Gold production of 22,230 ounces in Q3-2019 compared to 19,982 ounces in Q3-2018, an increase of 11.3%.


Financial



  • 34th consecutive quarter of profits;

  • Record quarterly sales of $33.7 M in Q3-2019, a significant increase of 38.1% compared to Q3-2018;

  • Gross operating margin of $4.6 M (13.7%) in Q3-2019, a significant increase of 76.9% compared to Q3-2018;

  • Net income of $2.3 M in Q3-2019 ($0.06 per share), an increase of $1.6 M compared to Q3-2018;

  • Cash gross operating margin of $227 per ounce equivalent Au sold (1) compared to $158 per ounce equivalent Au sold in Q3-2018;

  • EBITDA (2) of $4.1 M in Q3-2019, an increase of $2.1 M compared to Q3-2018;

  • Cash flow from operating activities before change in working capital items of $3.0 M and $0.08 per share (3) in Q3-2019, compared to $1.6 M and $0.04 per share in Q3-2018;

  • Cash on hand of $12.2 M in Q3-2019 compared with $13.9 million at year-end 2018 mainly due to the increase in working capital items including a September 30th sale collected on October 1st 2019 for $3.3 M and an increased level of mineral in inventory.


Cash Return to Shareholders



  • Quarterly dividend of CA$0.01 per share and totaling $0.3 M (CA$0.4 M) paid in October 2019;

  • Buyback of 164,349 shares during the quarter for $0.2 M (CA$0.3 M).


(1) Cash gross operating margin per equivalent ounce Au is calculated by subtracting the average cash cost of sale per equivalent ounces of Au from the average selling price per equivalent ounces of Au and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.


(2) EBITDA: “Earnings before interest, taxes and depreciation” is a non-IFRS financial performance measure with no standard definition under IFRS. 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 bases, effects due to different tax structures as well as the effects of different capital structures.


(3) Cash-flow per share is a non-IFRS financial performance measure with no standard definition under IFRS. 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 which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.








RESULTS FROM OPERATIONS

Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=DNG%3ACA&qmodStoryID=6030591062656150 

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Dynacor Gold Mines

lockPrivate Group

Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and...

people5 Members       (0)

Corporate Profile
Group Admins:
  • Thumb 8020 monitor 200200 2
Request Membership


Dynacor Gold Mines

lockPrivateGroup

Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engage......

people5 Members       (0)

Thumb 8020 monitor 200200 2

8020 Admin

19 hours ago

8020 Admin posted a press release Dynacor Declares Increased Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 28, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) is pleased to announce the declaration of an increased dividend payment of CA $0.015 per common share, a 50% increase over the last quarter dividend, which will be payable on January 6th, 2020, to shareholders of record as of the close of business on December 19, 2019. The payment represents the sixth quarterly dividend payment made to shareholders. The Corporation continues to perform well, and this dividend increase reflects its solid cashflows and financial situation consistent with its operating and strategic objectives.


The Corporation’s quarterly dividend qualifies as an “eligible dividend” for Canadian income tax purposes.


The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.


ABOUT DYNACOR


Dynacor is a dividend paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from artisanal and small-scale miners (ASM). At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314 ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).


Dynacor produces environmental and socially responsible gold through its ‘’PX Impact’’ gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects to our ASM communities.


Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).

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.


Dynacor (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com


PDF available: http://ml.globenewswire.com/Resource/Download/c7f2191e-d8cf-490d-b220-d8296087a9a6


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

9 days ago

8020 Admin posted a press release Dynacor Announces 50% Increase to Its Quarterly Dividend in DYNACOR GOLD MINES


MONTREAL, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation) a leading ore purchasing and processing corporation servicing artisanal and small-scale miners (ASM) in Peru, announced today that its Board of Directors approved an increase in the Corporation’s quarterly dividend payment to CA $0.015 (annual CA $0.06 per share), a 50% increase.


Today’s announcement marks the first increase in the Corporation’s dividend history, which was launched on October 1, 2018. The decision to increase reflects management’s and the Board’s continued confidence in Dynacor’s select business model, which has proven over the years to deliver consistent earnings and free cash flow. With management’s new optimization strategy in operations steadily improving cost efficiencies, an increase in gold production and a stable or increasing gold price, the year 2020 should see Dynacor improving on its operating cashflows.           


Dynacor has reported profits for 34 consecutive quarters. The Corporation will continue to evaluate its dividend policy as it increases free cash flow and cash balances with the potential for further increases to its dividend. Since launching the first dividend on October 1, 2018, the Corporation has paid to shareholders five cash instalments amounting to CA $0.05 per common share.


The payment or increase of dividends is at the discretion of the Board and will depend on the Corporation’s financial results, cash requirements, prospects and other factors deemed relevant by the Board.       


ABOUT DYNACOR


Dynacor is a dividend paying gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through the processing of ore purchased from artisanal and small-scale miners (ASM. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2018, Dynacor produced 81,314 ounces of gold, a yearly best and 1.8% increase as compared with 2017 (79,897 ounces).


Dynacor produces environmental and socially responsible gold through its ‘’PX Impact’’ gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors are paying a small premium to our customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects to our ASM communities.


Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).


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.


Dynacor (TSX: DNG / OTC: DNGDF)
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold


For more information, please contact:  Dynacor


Dale Nejmeldeen
Director, Shareholder Relations
Dynacor
T: 514-393-9000 #230
E: investors@dynacor.com  


Primary Logo


!
Thumb 8020 monitor 200200 2

8020 Admin

14 days ago

8020 Admin posted a press release Q3-2019: Dynacor Processes Record Volumes and Triples its Net Earnings in DYNACOR GOLD MINES

MONTREAL, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacor or the Corporation), reports its financial results for its third quarter ended September 30, 2019.


The unaudited condensed consolidated financial statements and the management's discussion and analysis (MD&A) for the three-month and nine-month periods ended September 30, 2019, have been filed electronically with SEDAR at www.sedar.com and will be available on the Corporation's website www.dynacor.com.


(All figures in this press release are in millions of US$ unless stated otherwise. Earnings per share and cash flow per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).


For the three-month period ended September 30, 2019, Dynacor processed quarterly record volumes and completed its thirty fourth (34th) consecutive quarter of profits tripling its net income to $2.3 M ($0.06 per share), compared to $0.7 M ($0.02 per share) for the same period of 2018.


Q3-2019 OVERVIEW AND HIGHLIGHTS


Total tonnes processed during the quarter increased by 16.8% from 22,615 in Q3-2018 to 26,421 in Q3-2019. At the same time, gold production increased by 11.3% from 19,982 to 22,230 ounces. The variance is mainly due to lower grades of the ore processed compared to 2018. This level of production represents approximately 50% of the revised production guideline for the second half of 2019 (ref. press release dated August 15, 2019). For the first time, production exceeded the daily named capacity of 300 tpd maintaining an average of 318 tpd (1) in September. In Q3-2019, the Corporation also increased its level of ore inventory to approximately 15 days of production at the end of September. The target is to continue increasing this level until the end of the year in order to mitigate the negative effects of the rainy season on the 2020 first quarter supply.


(1) Considering 1.5 days of programmed monthly maintenance

Operational and Strategic



  • Record quarterly volume of ore processed of 26,421 tonnes in Q3-2019 compared to 22,615 tonnes in Q3-2018;

  • Gold production of 22,230 ounces in Q3-2019 compared to 19,982 ounces in Q3-2018, an increase of 11.3%.


Financial



  • 34th consecutive quarter of profits;

  • Record quarterly sales of $33.7 M in Q3-2019, a significant increase of 38.1% compared to Q3-2018;

  • Gross operating margin of $4.6 M (13.7%) in Q3-2019, a significant increase of 76.9% compared to Q3-2018;

  • Net income of $2.3 M in Q3-2019 ($0.06 per share), an increase of $1.6 M compared to Q3-2018;

  • Cash gross operating margin of $227 per ounce equivalent Au sold (1) compared to $158 per ounce equivalent Au sold in Q3-2018;

  • EBITDA (2) of $4.1 M in Q3-2019, an increase of $2.1 M compared to Q3-2018;

  • Cash flow from operating activities before change in working capital items of $3.0 M and $0.08 per share (3) in Q3-2019, compared to $1.6 M and $0.04 per share in Q3-2018;

  • Cash on hand of $12.2 M in Q3-2019 compared with $13.9 million at year-end 2018 mainly due to the increase in working capital items including a September 30th sale collected on October 1st 2019 for $3.3 M and an increased level of mineral in inventory.


Cash Return to Shareholders



  • Quarterly dividend of CA$0.01 per share and totaling $0.3 M (CA$0.4 M) paid in October 2019;

  • Buyback of 164,349 shares during the quarter for $0.2 M (CA$0.3 M).


(1) Cash gross operating margin per equivalent ounce Au is calculated by subtracting the average cash cost of sale per equivalent ounces of Au from the average selling price per equivalent ounces of Au and is a non-IFRS financial performance measure with no standard definition under IFRS. It is therefore possible that this measure could not be comparable with a similar measure of another company.


(2) EBITDA: “Earnings before interest, taxes and depreciation” is a non-IFRS financial performance measure with no standard definition under IFRS. 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 bases, effects due to different tax structures as well as the effects of different capital structures.


(3) Cash-flow per share is a non-IFRS financial performance measure with no standard definition under IFRS. 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 which can also be helpful to investors as it provides a result which can be compared with the Corporation market share price.








RESULTS FROM OPERATIONS

Read more here: https://www.quotemedia.com/portal/quote?qm_symbol=DNG%3ACA&qmodStoryID=6030591062656150 

!