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Dynacor Gold Mines ( (TSE:DNG) ) has provided an update.
Dynacor Group Inc. has entered into a non-binding letter of intent to acquire a processing plant and assets in Ecuador from Pelorus Minerals Limited for $9.75 million. This acquisition aligns with Dynacor’s strategic plan to enhance its global operational capacity and achieve significant production and sales goals by 2030. The company estimates a total project cost of $25 million over the next 12 months, including refurbishing and working capital, and expects initial production within a year of closing the transaction.
More about Dynacor Gold Mines
Dynacor Group is an industrial ore processing company focused on producing gold sourced from artisanal miners. Established in 1996, the Canadian company has been a pioneer in creating a responsible mineral supply chain with rigorous traceability and audit standards. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru, with plans to expand into West Africa and Latin America.
YTD Price Performance: -14.68%
Average Trading Volume: 4,820
Technical Sentiment Signal: Sell
Current Market Cap: $144.2M
See more data about DNG stock on TipRanks’ Stock Analysis page.