Dynacor full year 2021 released Dynacor completed 2021 with both production and financial historical high performances on its way to its eleventh (11th) consecutive year of profit. The Corporation achieved production record of 106,862 AuEq ounces powering total sales to $196 million a significant 93% increase compared to 2020, and a net income of $11.8 million.
In 2021, 441,340 common shares were repurchased under the Corporation normal course issuer bid share buyback program for a total cash consideration of $0.9 million (CA$ 1.2 million) (149,185 shares for a total cash consideration of $0.2 million (CA$0.3 million in 2020)).
Ore processing
For 2022, the Corporation forecasted sales (1) in the range of $200-220 million representing growth of 4-14% over 2021 final production sales. This would result in a net income in the range of $11-13 million ($0.28-0.33 per share) (CA$0.36-0.42 per share).
Dynacor’s 2022 capital budget ranging between $5-8 million includes sustainable capital at the Veta Dorada plant. The Corporation intends to increase the mill capacity later this year.
The Corporation is continuing to assess other opportunities of growth in Peru as well as in other jurisdictions.
(1) Using opening 2022 market gold price