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MONTREAL, Jan. 19, 2026 (GLOBE NEWSWIRE) — Dynacor Group Inc. (TSX: DNG) (“Dynacor” or the “Corporation”), is pleased to announce preliminary fourth-quarter and full-year 2025 operating results and its 2026 outlook. All amounts are in US dollars unless otherwise indicated.
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President and CEO Jean Martineau said, “Strong gold-equivalent production of 32,838 ounces in Q4-2025 helped deliver another record year for sales, while beating our revised annual production guidance. The commitment and quality of our team enabled us to rebound quickly from adverse Q2-Q3 ore supply events and deliver our strongest production quarter of the past two years. Operational momentum is expected to continue into 2026 with ongoing optimisation in Peru and first contributions from our plants in Ecuador and Senegal.
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2026 marks an important year forward for Dynacor as we begin unlocking the potential of our diversification strategy. With this year’s capital expenditure program and material increase in installed capacity, we are positioning the company for long-term growth. Our strategy combines operational excellence with an ambitious expansion plan, ensuring that Dynacor continues to create shareholder value well into the future.”
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Q4 & Full-Year 2025 Highlights
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- Achieved annual operational and financial guidance:
- Exceeded revised production guidance by delivering gold-equivalent (AuEq) production of 113,791 ounces.
- Exceeded initial sales guidance for the third consecutive year by generating record sales of $397.6 million.
- Realized an average price of $3,494 per gold ounce sold in the year.
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- Delivered strong quarterly operating performance:
- Produced 32,838 AuEq ounces, the second-best fourth-quarter result, and a 20% increase compared to Q4-2024.
- Improved recoveries and efficiencies compared to Q4-2024 due to operational changes implemented.
- Acquired Svetlana plant in Ecuador and began its retrofit. Initial production expected in Q4-2026.
- Advanced Senegal pilot plant from planning to on-site delivery of equipment. First ore expected in early Q2-2026.
- Signed an MOU with a potential joint venture partner and began discussions with Ghana’s GoldBod.
- Dynacor to report full-year 2025 financial results on and about March 26, 2026.
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2026 Guidance
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| 2026 guidance | |
| Sales (in millions of $ (“$M”)) | 530 – 580 |
| Production (in thousands of AuEq oz) | 125 – 135 |
| Net income (in $M) | 22 – 26 |
| Capital expenditure | |
| Sustaining capex (in $M) – Peru | 6 – 8 |
| Capex (in $M) – Senegal | 4 – 5 |
| Capex (in $M) – Ecuador | 22 – 25 |
| Capex (in $M) – Other | 0.5 – 1 |
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Guidance Overview
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Production
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- Production range of 125,000-135,000 AuEq ounces includes first ore from the Senegal and Ecuador plants. This estimate assumes that the Svetlana plant processes first ore in Q4-2026 and that operations exit the year at a throughput rate of approximately 150 tpd. Svetlana operations will be relaunched at 300 tonnes per day, and commercial production is expected to be achieved in Q1-2027.
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Capital expenditures
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- Sustaining capital expenditures for 2026 in Peru are expected to be approximately $7 million, of which the majority is related to upgrade of the tailings pond, employee and water supply facilities.
- Capital expenditure in Ecuador includes capital investment of $7 million that was deferred from 2025.The bulk of the expenditure relates to the upgrade of the Svetlana plant tanks, cyclones, tailings and laboratory. Capex expenditure does not include the rehabilitation of two historical tailings ponds.
- Capital expenditure in Senegal includes a portion of the Engineering, Procurement and Construction (EPC) cost for the pilot plant and laboratory, and acquisition of a mobile fleet for the 50-tonne per day pilot plant.
- Other capex includes capital expenditure on other projects in West Africa.
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