{"id":8386,"date":"2021-03-31T07:59:00","date_gmt":"2021-03-31T11:59:00","guid":{"rendered":"https:\/\/www.dynacor.com\/dynacor-2020-reports-its-10th-consecutive-annual-profit-including-an-operating-income-of-9-5-million-an-increase-of-14-4-and-an-ebitda-increase-of-9-3-compared-to-2019\/"},"modified":"2021-03-31T12:27:39","modified_gmt":"2021-03-31T16:27:39","slug":"dynacor-2020-reports-its-10th-consecutive-annual-profit-including-an-operating-income-of-9-5-million-an-increase-of-14-4-and-an-ebitda-increase-of-9-3-compared-to-2019","status":"publish","type":"post","link":"https:\/\/dynacor.com\/en\/dynacor-2020-reports-its-10th-consecutive-annual-profit-including-an-operating-income-of-9-5-million-an-increase-of-14-4-and-an-ebitda-increase-of-9-3-compared-to-2019\/","title":{"rendered":"Dynacor 2020: Reports its 10th Consecutive Annual Profit,\u00a0Including an Operating Income of $9.5 Million,\u00a0an Increase of 14.4%, and an\u00a0EBITDA Increase of 9.3% Compared to 2019"},"content":{"rendered":"

MONTREAL, March 31, 2021 (GLOBE NEWSWIRE) — Dynacor Gold Mines Inc. (TSX: DNG \/ OTC: DNGDF) (Dynacor or the Corporation)<\/strong> released its audited annual consolidated financial statements and the management’s discussion and analysis (MD&A) for the year ended December 31, 2020.<\/p>\n

These documents have been filed electronically with SEDAR at www.sedar.com<\/a> and will be available on the Corporation’s website www.dynacor.com<\/a>.<\/p>\n

(All figures in this press release are in Ms of US$ unless stated otherwise. All amounts per share are in US$. All variance % are calculated from rounded figures. Some additions might be incorrect due to rounding).<\/em><\/p>\n

2020 OVERVIEW AND HIGHLIGHTS<\/strong><\/strong><\/p>\n

OVERVIEW <\/strong><\/p>\n

In an historical year marked by the Covid-19 pandemic and which continues to pose global challenges, Dynacor completed its fiscal 2020 recording its 10th<\/sup> consecutive profitable year with a net income of $4.3 million compared to $5.2 million in 2019 and with a 9.3% increase in EBITDA to $11.7 million, including $4.8 million in Q4-2020 ($2,2 million in Q4-2019).<\/p>\n

Dynacor started 2020 with a strong operational performance which was suddenly stopped by the Covid-19 pandemic. The three-month operation stoppage from March 16 till June 5, 2020, ended, in Q2-2020, a streak of thirty-six (36) consecutive profitable quarters. In Q3, the Corporation successfully resumed its ore purchase and processing activities, immediately returning to profit, and strongly ended 2020.<\/p>\n

The Corporation was able to retain all of its ore suppliers and to steadily increase its ore purchasing and processing levels ending 2020 with an ore inventory exceeding 8,000 tonnes which represents 24 days of production, ready to face the usual first quarter rainy season.<\/p>\n

Total sales for the year amounted to $101.5 million compared to $102.5 million.<\/p>\n

The resumption of activities, together with the return of employees and suppliers, was in full compliance with the Ministry of Health guidelines. Our Covid-19 sanitary protocol contains measures to monitor the risk of exposure to the Covid-19 at our workplaces, as well as establishing prevention and control standards to avoid the appearance and\/or the spread of the virus and to ensure the health and safety of our workers, suppliers, customers and visitors.<\/p>\n

HIGHLIGHTS<\/strong><\/p>\n

Operational <\/strong><\/em><\/p>\n