Dynacor Issues 2022 Financial Guidance Representing Earnings Growth of 22-37% Over 2021 September Revised Guidance
23 Februar 2022 - 4:11PM
Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the
"Corporation"), an international gold ore industrial
corporation servicing ASMs (artisanal and small-scale miners),
provides the 2022 financial and capital expenditure guidance.
2022 Financial Forecast (Based on an
average gold price of US1,810 per ounce)
- Total sales in the range of US$200
- $220 million (C$254 - $279 million) representing growth of 8-16%
over the 2021 revised guidance and 4-14% over 2021 final production
sales;
- Net income in the range of
US$11-$13 million (US$0.28-$0.33 EPS), (C$0.36 - $0.42 EPS)
representing growth of 22-37% over the 2021 revised guidance;
- Cash flow from operating activities
in the range of US$14 - $16 million (US$0.37 - $0.42 CFPS), (C$0.47
- $0.53 CFPS);
- Capital budget in the range of US$
5- $8 million.
Dynacor forecasts gold and silver sales of
between US$200 million to US$220 million. Based on its 2022 capital
budget, operating activities, and expansion development, the
Corporation expects to generate significant additional free cash
flow in 2022.
Dynacor's 2022 capital budget ranging between
US$5 - $8 million includes sustainable capital at the Veta Dorada
plant, additional capacity expansion to follow the 25% increase in
2021, and a US$1.0 million, 2,735-meter 8-hole diamond drilling
program at Tumipampa, the Corporation's gold exploration property
in Peru.
- Assumes 2022 average CA/US exchange
rate of 1.27:1
- Using opening 2022 gold price;
- Cash-flow per share is a non-IFRS
financial performance measure with no standard definition under
IFRS. Therefore, it is possible this measure will not be comparable
with a similar calculation of another corporation. Dynacor believes
that cash flow from operating activities provides useful
information to investors in assessing the Corporation’s financial
condition and operating results.
- Free Cashflow being defined by the operating cashflow less
cashflow from investing activities.
ABOUT
DYNACOR
Dynacor is a dividend-paying industrial gold ore
processor headquartered in Montreal, Canada. The corporation is
engaged in gold production through the processing of ore purchased
from the ASM (artisanal and small-scale mining) industry. At
present, Dynacor operates in Peru, where its management and
processing teams have decades of experience working with ASM
miners. It also owns a gold exploration property (Tumipampa) in the
Apurimac department.
The corporation intends to expand its processing
operations in other jurisdictions as well.
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 pay 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 for our artisanal and small-scale miner’s communities.
Dynacor is listed on the Toronto Stock Exchange
(DNG).
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.
Shares Outstanding: 38,598,794
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold
PDF
available: http://ml.globenewswire.com/Resource/Download/770a57e5-f6e8-414f-bde7-11b684092f00
CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230
E: investors@dynacor.com
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