{"id":11813,"date":"2025-11-13T07:30:00","date_gmt":"2025-11-13T12:30:00","guid":{"rendered":"https:\/\/dynacor.com\/dynacor-reports-record-sales-and-ebitda-in-q3-2025\/"},"modified":"2026-02-11T04:32:44","modified_gmt":"2026-02-11T09:32:44","slug":"dynacor-reports-record-sales-and-ebitda-in-q3-2025","status":"publish","type":"post","link":"https:\/\/dynacor.com\/en\/dynacor-reports-record-sales-and-ebitda-in-q3-2025\/","title":{"rendered":"Dynacor Reports Record Sales and EBITDA in Q3-2025"},"content":{"rendered":"<p align=\"justify\">MONTREAL, Nov.  13, 2025  (GLOBE NEWSWIRE) &#8212; <strong>Dynacor<\/strong> <strong>Group <\/strong><strong>Inc. (TSX: DNG) (\u201cDynacor\u201d or the \u201cCorporation\u201d)<\/strong> today announced its unaudited financial and operational results<sup>1<\/sup> for the third quarter ended September 30, 2025.<\/p>\n<p align=\"justify\">\u201cThis was a solid third quarter that reflects our team\u2019s resolve to deliver strong operational results that are more representative of the usual Dynacor performance,\u201d said Jean Martineau, President &amp; CEO. \u201cDespite ore supply disruptions in the first two weeks in the quarter, we are well on track to meet or beat our full-year production and financial guidance. The higher gold prices and consistent mill performance generated a number of new financial records including record quarterly EBITDA. With our strong cash flow generation and strengthened management team, we continue to cultivate shareholder value through steady execution of our growth projects. We expect to build on this momentum in the fourth quarter and going into 2026.\u201d<\/p>\n<p align=\"justify\"><strong><strong>Q3-2025 Highlights<\/strong><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\"><strong>Robust operations despite two weeks of artisanal miner road blockades in July: <\/strong>\n<ul type=\"circle\">\n<li>Processing at full capacity from mid-July (429\u00a0tpd), for a total of 39,479 tonnes of ore.<\/li>\n<li>Production of 28,948 AuEq ounces, in line with recent historical levels.<\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align:justify\"><strong>Strong financial results due to higher realized gold prices:<\/strong>\n<ul type=\"circle\">\n<li style=\"text-align:justify\">Record sales of $100.5\u00a0million in Q3-2025 compared to $76.2\u00a0million in Q3-2024.<\/li>\n<li style=\"text-align:justify\">Gross margin of $11.7\u00a0million (11.7% of sales) in Q3-2025, compared to $10.3\u00a0million (13.6% of sales) in Q3-2024.<\/li>\n<li style=\"text-align:justify\">Record EBITDA<sup>2<\/sup> of $9.0\u00a0million, compared to $8.9\u00a0million in Q3-2024.<\/li>\n<li style=\"text-align:justify\">Non-recurring expenses totaling $0.6\u00a0million.<\/li>\n<li style=\"text-align:justify\">Net income of $5.5\u00a0million, compared to $5.9\u00a0million in Q3-2024.<\/li>\n<li style=\"text-align:justify\">Operating cash flows before changes in working capital items of $6.6\u00a0million, similar to Q3-2024.<\/li>\n<li style=\"text-align:justify\">Record cash gross operating margin of $440 per AuEq ounce sold<sup>3<\/sup>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong><strong>Q3-2025 Highlights (continued)<\/strong><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\"><strong>Advancement of high-return expansion projects:<\/strong>\n<ul type=\"circle\">\n<li style=\"text-align:justify\">Ecuador: On July 14, 2025, the Corporation completed the acquisition of 100% of the shares of the Svetlana processing plant and related assets for a total consideration of $9.75 million. The acquisition includes plans to upgrade and ramp up the facility to a production capacity of 300 tonnes per day (tpd), before progressively increasing to 500 tpd. Currently, first ore is expected to be processed in Q4-2026.<\/li>\n<li style=\"text-align:justify\">Since then, the Dynacor team has been integrating the new subsidiary in Ecuador on three fronts: corporate, operational and community.\n<ul type=\"circle\">\n<li>The corporate framework continues to advance particularly with regard to its banking, fiscal and legal systems.<\/li>\n<li>Technical assessments of the plant have been conducted, and the request for quote (RFQ) process has begun.<\/li>\n<li>A community participation session was completed in September, apprising the Svetlana host community of Dynacor\u2019s environmental management plan.<\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align:justify\">Senegal: Construction of the 50-tpd pilot plant continues on schedule with first shipments of the modular plant expected on site in mid-November.\n<ul type=\"circle\">\n<li>Processing of first ore is expected in late Q1-2026.<\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align:justify\">Ghana: Ongoing preparation of formal proposals on Dynacor\u2019s proposed operations for Goldbod and Ghana\u2019s government agencies.<\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align:justify\"><strong>Continued focus on shareholder returns: <\/strong>Disbursed a monthly dividend representing CA$0.16 per share on an annual basis or a 3.46% dividend yield based on the current share price.<\/li>\n<li style=\"text-align:justify\">Dispensed 4,781 hours of health, safety and environment training to the Veta Dorada team.<\/li>\n<\/ul>\n<p><strong><strong>2025 Outlook versus Actuals<\/strong><\/strong><\/p>\n<p align=\"justify\">The Corporation confirms its following 2025 revised guidance, as issued on August 11, 2025:<\/p>\n<ul type=\"disc\">\n<li>Sales between $340-$350 million (YTD $260.2 million).<\/li>\n<li>Net income between $14-$17 million (YTD $14.1 million).<\/li>\n<li>Production between 105,000-110,000 AuEq ounces (YTD 80,953 AuEq ounces).<\/li>\n<li>Other project expenses of $3 million to achieve the 2025 growth plan (YTD $1.2 million).<\/li>\n<\/ul>\n<p align=\"justify\">The Corporation anticipates that total 2025 capital expenditures will come in below its revised guidance of approximately $12\u00a0million in Peru and Senegal, and $17\u00a0million in Ecuador, as certain planned investments are expected to be completed in 2026.<\/p>\n<p align=\"justify\">Guidance is based on the following assumptions:<\/p>\n<p align=\"justify\" style=\"padding-left:40px\">(1) No increase in processing capacity and steady ore supply.<br \/>(2) Average market gold price\u00a0of between $3,200 and $3,400 per ounce.<br \/>(3) The ore grade supplied may vary with the evolution of the gold price and the purchasing conditions.<\/p>\n<p align=\"justify\">As most of the Corporation&#8217;s cost of sales relate to the daily purchasing of ore, its margin and net income are impacted by the inventory level at quarter-start, the gradual path of the gold price, and by the ore supply in the period.<\/p>\n<p align=\"justify\"><strong>Operations Overview<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:99%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle\"><strong>Three-month periods<br \/>ended September 30,<\/strong><\/td>\n<td>\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle\"><strong>Nine-month periods<br \/>ended September 30,<\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:51%;width:51%;min-width:51%;text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Volume processed (in tonnes)<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>39,479<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">47,721<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>120,973<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">134,662<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Tonnes per day<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>429<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">519<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>443<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">491<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">AuEq ounces produced<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>28,948<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">30,002<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>80,953<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">90,135<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">During Q3-2025, despite ore supply in the first half of July being impacted by roadblocks erected by protesting artisanal miners, the Corporation processed over 39,000 tonnes (429 tpd on average). This is in comparison to 519 tpd in Q3-2024 when processing throughput had temporarily been increased by about 10% to 550 tpd. Excluding the temporary disruption caused by the roadblocks, the Corporation would have processed over 43,000 tonnes (472 tpd on average), in line with historical processing levels.<\/li>\n<li style=\"text-align:justify\">Year-to-date production was also impacted by the lower tonnes processed in Q2-2025 due to curfews imposed on artisanal miners in northern Peru and the supply of lower-grade ore in Q1-2025.\u00a0<\/li>\n<\/ul>\n<p><strong>Financial Overview<\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:99%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle\"><strong>Three-month periods<br \/>ended September 30,<\/strong><strong><br \/><\/strong><\/td>\n<td>\u00a0<\/td>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle\"><strong>Nine-month periods <\/strong><br \/><strong>\u00a0ended September 30,<\/strong><strong><br \/><\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;text-align: justify;vertical-align: middle\"><strong>(in $&#8217;000) <\/strong><strong>(unaudited)<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Sales<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>100,515<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">76,181<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>260,189<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">211,345<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: bottom\">Cost of sales<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(88,793<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(65,838<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(232,345<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(181,860<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Gross operating margin <\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>11,722<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,343<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>27,844<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">29,485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(3,513<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,040<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(9,232<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(5,871<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: bottom\">Other project expenses<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(234<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(320<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(1,225<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(861<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Operating income <\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>7,975<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,983<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>17,387<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,753<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Financial income net of expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>219<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">254<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>731<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">611<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Write-off of exploration and evaluation assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>&#8211;<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(8<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(18<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: bottom\">Foreign exchange gain (loss)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>13<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>1,678<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(176<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Income before income taxes<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>8,207<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,245<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>19,788<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">23,170<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Current income tax expense<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(2,914<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,759<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(6,103<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(8,177<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: bottom\">Deferred income tax (expense) recovery<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>163<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">385<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>389<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">160<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Net income and comprehensive income<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>5,456<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,871<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>14,074<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,153<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\"><strong>Earnings per share<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Basic<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>$<\/strong><\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>0.13<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.16<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>$<\/strong><\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>0.34<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.41<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Diluted<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>$<\/strong><\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>0.12<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.16<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>$<\/strong><\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>0.33<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">$<\/td>\n<td style=\"padding-left: 0;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">0.41<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><strong><em>Q3-2025 Quarterly Results<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">During Q3-2025, the gold price increased from approximately $3,300\/oz in August to approximately $3,700\/oz in September. This positively impacted the Q3-2025 financial performance, particularly in September.<\/li>\n<li style=\"text-align:justify\">Total sales amounted to $100.5\u00a0million compared to $76.2\u00a0million in Q3-2024. The $24.3\u00a0million increase is explained by the higher average sales gold price (+$29.0\u00a0million), partially offset by lower quantities of gold ounces sold (-$4.7\u00a0million) due to the lower tonnage of ore processed.<\/li>\n<\/ul>\n<p align=\"justify\"><strong><em>Q3-2025 Quarterly Results (continued)<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">The Q3-2025 gross operating margin reached $11.7\u00a0million (11.7% of sales) compared to $10.3\u00a0million (13.6% of sales) in Q3-2024. Both the level and the trend in the gold price impact our gross operating margin. Gross operating margin in Q3-2025 was also impacted by non-recurring expenses, including reorganization expenses.<\/li>\n<li style=\"text-align:justify\">General and administrative expenses totaled $3.5 million in Q3-2025 compared to $2.0 million in Q3-2024. The increase is primarily attributable to the expansion of the management team, higher salaries to reinforce management capacity and processes in the context of its international expansion and non-recurring expenses related to reorganization expenses.<\/li>\n<li style=\"text-align:justify\">Other projects represent the expenses incurred by the Corporation to duplicate its unique business model in the same or other jurisdictions. These costs are expensed as incurred until the projects reach the construction stage, at which point they are capitalized.<\/li>\n<li style=\"text-align:justify\">A $2.8\u00a0million income tax expense was also recorded during Q3-2025, similar to the prior year. The effective tax rate continues to be influenced by the variance throughout the period of the Peruvian sol against the US$, which is the Corporation\u2019s functional currency. Future fluctuations will positively or negatively affect the current and deferred tax at the end of each period.<\/li>\n<\/ul>\n<p align=\"justify\"><strong><em>Q3-2025 Year-To-Date Results<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">During the nine-month period ended September 30, 2025, the gold price increased from approximately $2,700\/oz in January to approximately $3,700\/oz in September, which positively impacted the Corporation\u2019s financial results for the period.<\/li>\n<li style=\"text-align:justify\">Total sales for the nine-month period ended September 30, 2025, amounted to a record $260.2 million, compared to $211.3 million for the same period in 2024. The $48.9 million increase is explained by higher average gold price (+$75.2 million), partially offset by lower quantities of gold ounces sold\u00a0(-$26.3\u00a0million).<\/li>\n<li style=\"text-align:justify\">On a year-to-date basis, both the gross operating margin and general and administrative expenses were impacted by non-recurring expenses totaling $2.4 million, including $0.8 million in non-cash items, related to reorganization and asset rationalization activities, as well as costs associated with the special and annual shareholder meetings held in Q2-2025.<\/li>\n<\/ul>\n<p><strong>Cash Flows, Working Capital and Liquidity Overview <\/strong><\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:99%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\"><strong>(in $&#8217;000) (unaudited)<\/strong><\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>Three-month periods <br \/>ended September 30,<\/strong><strong><br \/><\/strong><\/td>\n<td>\u00a0<\/td>\n<td colspan=\"3\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>Nine-month periods <br \/>ended September 30,<\/strong><strong><br \/><\/strong><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:52%;width:52%;min-width:52%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2025<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:11%;width:11%;min-width:11%;padding-right: 0;text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2024<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\"><strong>Operating activities<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income, adjusted for non-cash items<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>6,601<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,678<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>16,556<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">18,144<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Changes in working capital items<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(12,947<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,665<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(6,110<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">11,468<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Net cash from (used in) operating activities<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(6,346<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,343<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>10,446<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">29,612<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\"><strong>Investing activities<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Acquisition of the Svetlana plant<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(9,948<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(9,948<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Change in short-term investments<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>2,998<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>5,998<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Acquisition of property, plant and equipment, net of proceeds of disposition and other<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(3,262<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,322<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(5,384<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,622<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">Net cash from (used in) investing activities<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(10,212<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,322<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(9,334<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,622<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\"><strong>Financing activities<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Issuance of common shares<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>&#8211;<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>20,433<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Repurchase of common shares<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(541<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(934<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(1,703<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,829<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Dividends paid<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(1,219<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(934<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(3,543<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,841<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Other<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>104<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a019<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>178<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">143<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Net cash from (used in) financing activities<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(1,656<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,849<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>15,365<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(6,527<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\"><strong>Change in cash during the period<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(18,214<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,172<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>16,477<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">19,463<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Effect of exchange rate fluctuations on cash<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>(297<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\"><strong>)<\/strong><\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">46<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>581<\/strong><\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Cash, beginning of the period<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>55,388<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">34,734<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>19,819<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,481<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Cash, end of the period<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>36,877<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">41,952<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>36,877<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">41,952<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p><strong><em>Investing activities<\/em><\/strong><\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">On July 14, 2025, the Corporation completed the acquisition of 100% of the shares of the Svetlana processing plant and related assets for a total consideration of $9.75\u00a0million and incurred transaction costs of $0.2\u00a0million.<\/li>\n<li style=\"text-align:justify\">In Q3-2025, Dynacor invested $3.2\u00a0million in capital expenditure of which $1.7\u00a0million was applied toward the construction of the ore-processing pilot plant in Senegal and $0.9\u00a0million in Peru, mainly to maintain or improve plant efficiency.<\/li>\n<li style=\"text-align:justify\">The Corporation will primarily use the remaining proceeds from the issuance of common shares in Q1-2025 to fund the construction of the pilot plant in Senegal.<\/li>\n<\/ul>\n<p align=\"justify\"><strong><em>Working Capital and Liquidity<\/em><\/strong>\u00a0\u00a0<\/p>\n<ul type=\"disc\">\n<li>As at September 30, 2025, the Corporation\u2019s working capital amounted to $77.6 million, including $36.9 million in cash ($58.9 million, including $25.8 million in cash and short-term investments as at December 31, 2024).<\/li>\n<li>Higher gold prices contributed to stronger sales, while also increasing working capital requirements, mainly due to higher sales tax receivables and inventories.<strong><br \/><\/strong><\/li>\n<\/ul>\n<p align=\"justify\"><strong>Consolidated Statement of Financial Position<\/strong><\/p>\n<p align=\"justify\">As at September 30, 2025, total assets amounted to $166.6 million ($125.3 million as at\u00a0December 31, 2024). Major variances since year-end 2024 come from the significant increase in cash following the issuance of common shares in February 2025; the increase in accounts receivable due to the timing of trade receivable collections; and additions to property, plant and equipment stemming from the acquisition of the Svetlana processing plant. The increase in total liabilities mainly results from the recognition of asset retirement obligations recorded as part of the Svetlana acquisition.<\/p>\n<table style=\"border-collapse: collapse;margin-left:auto;margin-right:auto;width:99%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:60%;width:60%;min-width:60%;vertical-align: bottom\"><strong>(in $&#8217;000) (unaudited)<\/strong><\/td>\n<td style=\"max-width:19%;width:19%;min-width:19%;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>As at September 30,<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<td style=\"max-width:19%;width:19%;min-width:19%;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>As at December 31,<\/strong><\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2025<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;border-bottom: solid black 1pt;vertical-align: bottom\"><strong>2024<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Cash<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>36,877<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">19,819<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Short-term investments<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>&#8211;<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,999<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Accounts receivable<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>30,941<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">23,747<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Inventories<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>29,182<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">29,376<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Prepaid expenses and other assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>961<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">361<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Current tax assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>1,040<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Property, plant and equipment<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>48,375<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">26,160<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Exploration and evaluation assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>18,575<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18,570<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Right-of-use assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>646<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,070<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Other non-current assets<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>&#8211;<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">159<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Total assets<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>166,597<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">125,261<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>\u00a0<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Trade and other payables<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>21,321<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18,185<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Asset retirement obligations<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>15,133<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,732<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Current tax liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>&#8211;<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2,125<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Deferred tax liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>176<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">565<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>689<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,108<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Share unit plan liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>493<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">389<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">Shareholders&#8217; equity<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>128,785<\/strong><\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">99,157<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\"><strong>Total liabilities and shareholders\u2019 equity<\/strong><\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\"><strong>166,597<\/strong><\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">125,261<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\"><strong>About Dynacor<\/strong><\/p>\n<p align=\"justify\">Dynacor Group is an industrial ore processing company dedicated to producing gold sourced from artisanal miners. Since its establishment in 1996, Dynacor has pioneered a responsible mineral supply chain with stringent traceability and audit standards for the fast-growing artisanal mining industry. By focusing on formalized miners, the Canadian company offers a win-win approach for governments and miners globally. Dynacor operates the Veta Dorada plant and owns a gold exploration property in Peru. The company is expanding to West Africa and within Latin America.<\/p>\n<p align=\"justify\">The premium paid by luxury jewellers for Dynacor\u2019s PX Impact\u00ae gold goes to Fidamar Foundation, an NGO that mainly invests in health and education projects for artisanal mining communities in Peru. Visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=VbLescQZZ_Z5n-_axEUeCfdk-_dPE2r-IadeS0-OevpNLwFkUq4GIbs7NgAp_dnRmYP7sEE-UWESWKm6A7k_g4wnF9W0rvEWmCreb6RCI9Q=\" rel=\"nofollow\" target=\"_blank\" title=\"www.dynacor.com\">www.dynacor.com<\/a> for more information.<\/p>\n<p align=\"justify\"><strong>Forward-Looking Information<\/strong><\/p>\n<p align=\"justify\">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\u2019s current expectations regarding future events and operating performance as of the date of this news release.<\/p>\n<p align=\"justify\"><strong>Contact: <\/strong><\/p>\n<p>For more information, please contact:<\/p>\n<p>Ruth Hanna<br \/>Director, Investor Relations <br \/>T: 514-393-9000 #236<br \/>E: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=5k3gAjfzUdJPlfr0XTg3G8Q1FJV9CAxMbscFSUtPCl__Y9L8My3bpU4_aj069jD74VYUahZfS4MDg1bcdOV9pA8T41nZU-SH_wtnxHaUuws=\" rel=\"nofollow\" target=\"_blank\" title=\"investors@dynacor.com\">investors@dynacor.com<\/a><br \/>Website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uUxv5Q2lwHc1BPvB9CMondqo0eMYmqxMGuw0qUWwcdj3hCBVAo5pOVXzr_r5hcSU7AIDRIwZ28nlaens-sjYz6H-K3MbaoyzrUJDLUEisDM=\" rel=\"nofollow\" target=\"_blank\" title=\"\">http:\/\/www.dynacor.com<\/a><\/p>\n<p>Renmark Financial Communications Inc.<br \/>Bettina Filippone<br \/>T: (416) 644-2020 or (212) 812-7680<br \/>E: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=uENL086Oji7b7tuBeB4uVcKb2xNkib4yyGAXYs1bYLgEx9bn33J_2otruHF1F8ocWVjniB_UkEM73g0HAp8SHeXcMVKzGAI1ZrozFE2dnukWHtqbPKs4vl_Zh5a7TnDs4XsrNAzE1j9w8DNYcPqhhg==\" rel=\"nofollow\" target=\"_blank\" title=\"bfilippone@renmarkfinancial.com\">bfilippone@renmarkfinancial.com<\/a>\u00a0 <br \/>Website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=heqbElEhz16_0DHEqJmBzcWpQgC4Zg_D7EBsWyhVrHv2bGrOInGHDtzMRCy_c6NtlXKt-szEe64xdfLmPjjfGxHtMNAy9bI_tTmw1eeYgHnlXNN8B1kxq18pI1T3zU2Y\" rel=\"nofollow\" target=\"_blank\" title=\"www.renmarkfinancial.com\">www.renmarkfinancial.com<\/a><\/p>\n<p align=\"justify\"><sup>1<\/sup> All figures are in US dollars unless stated otherwise. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding.<br \/><sup>2<\/sup> EBITDA: \u201cEarnings before interest, taxes and depreciation\u201d is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure may not be comparable with a similar measure of another corporation. The Corporation uses this non-IFRS measure as an indicator of the cash generated by the operations and allows investor to compare the profitability of the Corporation with others by canceling effects of different assets basis, effects due to different tax structures as well as the effects of different capital structures. EBITDA is calculated on page 15 of the Corporation\u2019s MD&amp;A for the three- and nine-month periods ended September 30, 2025, with additional information provided in section 18, \u201cNon-IFRS Measures.\u201d<br \/><sup>3<\/sup> Cash gross operating margin per AuEq ounce is in US$ and is calculated by subtracting the average cash cost of sale per equivalent ounce of Au from the average selling price per equivalent ounce of Au and is a non-IFRS financial performance measure with no standard definition under IFRS Accounting Standards. It is therefore possible that this measure may not be comparable with a similar measure of another company. Cash ross operating margin per AuEq ounce is calculated on page 13 of the Corporation\u2019s MD&amp;A for the three- and nine-month periods ended September 30, 2025, with additional information provided in section 18, \u201cNon-IFRS Measures.\u201d<\/p>\n<p><img alt=\"\" src='https:\/\/ml.globenewswire.com\/media\/ZDZhMTNhMGEtNjI5ZC00NjZmLTkxNDEtMWRkZTAxZTE2OWU5LTEwOTU2MjgtMjAyNS0xMS0xMy1lbg==\/tiny\/Dynacor-Inc-.png' \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MONTREAL, Nov.  13, 2025  (GLOBE NEWSWIRE) &#8212; Dynacor Group Inc. (TSX: DNG) (\u201cDynacor\u201d or the \u201cCorporation\u201d) today announced its unaudited financial and operational results1 for the third quarter ended September 30, 2025.  \u201cThis was a solid third quarter that reflects our team\u2019s resolve to deliver strong operational results that are more representative of the usual Dynacor performance,\u201d said Jean Martineau, President &amp; CEO. \u201cDespite ore supply disruptions in the first two wee<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,65,20],"tags":[],"class_list":["post-11813","post","type-post","status-publish","format-standard","hentry","category-48","category-english","category-press-releases"],"_links":{"self":[{"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/posts\/11813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/comments?post=11813"}],"version-history":[{"count":1,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/posts\/11813\/revisions"}],"predecessor-version":[{"id":12273,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/posts\/11813\/revisions\/12273"}],"wp:attachment":[{"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/media?parent=11813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/categories?post=11813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dynacor.com\/en\/wp-json\/wp\/v2\/tags?post=11813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}