Dynacor Gold Mines - President and CEO, Jean Martineau
President and CEO, Jean Martineau
Source: The Northern Miner
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  • Dynacor Gold Mines (DNG) announced record sales and net income in the second quarter
  • Compared to the US$8 million in sales brought in during Q2 2020, the company’s sales skyrocketed to $42.8 million in Q2 2021
  • The company also purchased a record volume of ore this quarter, bringing in 31,280 tonnes
  • The company ended the quarter in a strong position with cash flow from operating activities at $3.2 million
  • Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal
  • Dynacor Gold Mines Inc. (DNG) is up 1.58 per cent, trading at $2.57 per share

Dynacor Gold Mines (DNG) has released its consolidated financial and operational results for the second quarter of 2021.

Even considering that sales were affected by the global pandemic in Q2 2020, the company experienced a massive increase in income from sales this past quarter.

Compared to the US$8 million in sales brought in during Q2 2020, the company’s sales skyrocketed to $42.8 million in Q2 2021. The increase also beat Q1 2020’s $40.9 million in sales.

The company also purchased a record volume of ore this quarter, bringing in 31,280 tonnes. In addition to processed ore, the company maintained a level inventory of over 11,000 tonnes, 41.5 per cent more year-over-year.

Shareholders in Dynacor received $0.5 million in three monthly dividends during the quarter, a 33 per cent compared to the monthly dividend paid in June 2021.

With cash on hand of $13.4 million, the company ended the quarter in a strong position with cash flow from operating activities at $3.2 million, stable for the third consecutive quarter.

As of the end of June 2021, Dynacor’s total assets amounted to $83.4 million, up from $76.3 million at 2020 year-end.

Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal.

The company operates several properties in Peru, including Veta Dorada, Metalex, Tumipampa, and Anta.

Dynacor Gold Mines Inc. (DNG) is up 1.58 per cent, trading at $2.57 per share as of 3:46 pm ET.

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