Dynacor Group to acquire Arkham Metals from Pelorus Minerals for $9.75M

Dynacor Group (DNGDF) signed a share purchase agreement to acquire Arkham Metals from Pelorus Minerals, a wholly owned subsidiary of Arkham Metals Limited Australia. As previously announced, Dynacor will pay $9.75M for 100% of the shares of the 1,500 tpd permitted processing plant. “Svetlana”, the newly acquired processing plant, is located in Portovelo, in the El Oro province of southern Ecuador. The carbon-in-pulp plant was operated intermittently between 2011-2020, and has been in care and maintenance since Q2-2020. Under its international expansion plan, Dynacor will pay a total consideration of $25M including the purchase price to upgrade the plant and prepare for ramp up to 300 tpd operating capacity in 2026. The transaction will be funded with proceeds from the $22.1M financing carried out earlier this year.