InvestmentPitch Media Video Discusses Dynacor Group's Appointment of Denis Rivard, P.Eng. as its First-Ever Chief Operating Officer as it Enters a New Era of Growth
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2023) - Montreal-based Dynacor Group Inc (TSX: DNG), a dividend-paying international industrial gold ore processor, has appointed Denis Rivard, P.Eng. as its first-ever Chief Operating Officer.
Jean Martineau, President and CEO, stated: "Dynacor is at an exciting point in its evolution, and Denis's appointment reflects our commitment to driving growth and delivering value for our shareholders. His wealth of experience and track record in delivering mega projects worldwide make him the perfect fit for this role."
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With a degree in mechanical engineering from the University of Quebec at Chicoutimi and more than 40 years experience spanning multiple industries and continents, Rivard brings an impressive portfolio to Dynacor. He began his career in aluminum smelter projects in Quebec and the USA, followed by more than 20 years in South Africa, working in several African countries, the Middle East, Southeast Asia, and Latin America across various industrial and infrastructure sectors. His portfolio includes aluminum smelters, mining projects, product export terminals, chemical/petrochemical/LNG facilities, major infrastructure projects, pipelines, ports, marine facilities, rail networks, and energy projects.
His international assignments have honed his multidisciplinary expertise, enabling him to lead diverse teams and build collaborative, solid relationships internally, and with key stakeholders. Throughout his career, Rivard has demonstrated his ability to manage and deliver various mega projects globally. As vice president at CDPQ Infra, he led all project activities from construction to commissioning for the US$7.5 Billion REM transit infrastructure project in Quebec. With a length of 67 km, it is one of the largest automated networks in the world.
His appointment is pivotal for Dynacor, which is expanding its gold ore processing operations to other jurisdictions.
Dynacor, an international gold ore industrial company, purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant, strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru, which is currently running at its maximum 500 tpd throughput.
For 2023, Dynacor forecasted annual gold sales in the range of US$210-$235 million based on an average gold price between US$1,800 and US$1,900 per ounce and is well on track to surpass its yearly sales forecasts.
The company pays a monthly dividend, which was increased by 25% at the beginning of 2022 to CDN$0.10 per share annually and increased again January 2023 to CDN$0.12 annually, which represents an annual dividend yield of 3.6% based on the current share price.
The company also owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru's Apurimac department.
Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner's communities.
The shares are currently trading at $3.32 on the Toronto Stock Exchange, with 38,193,000 shares outstanding. For more information, visit the company's website www.dynacor.com, contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com.
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