Dynacor Returns to Profit in Q3-2020; Highest Cash Gross Operating Margin Per Ounce Since 2014 of $304 Per Ounce, a Year-Over-Year Increase of 34%; Operating at Full Capacity With Near-Term Plans to Expand
MONTREAL, Nov. 16, 2020 -- Dynacor Gold Mines Inc. (TSX: DNG / OTC: DNGDF) (Dynacoror the Corporation) has released its unaudited consolidated financial statements and the management's discussion and analysis (MD&A) for the third quarter ended September 30, 2020.
These documents have been filed electronically with SEDAR at www.sedar.com and will be available on the Corporation's website www.dynacor.com.
(All figures in this press release are in Ms of US$ unless stated otherwise. Earnings per share and cash-flow per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).
After a three-month stoppage due to the Covid-19 crisis, which ended a streak of thirty-six (36) consecutive profitable quarters, the Corporation successfully resumed its ore purchase and processing activities, immediately returning to profits. During Q3-2020, the Corporation gradually increased ore purchases and generated sales of $ 24.1 million recording a net income of $ 1.2 million ($0.03 per share).
- Published: 16 November 2020
- Written by Editor