Dynacor Gold Mines (TSX: DNG), whom is a gold processor with its primary operations based in Peru similar to Inca One Gold (TSXV: INCA), this morning increased its earnings guidance for the full fiscal year. The increase is believed to be a result of the continued scaling of operations.
In terms of revenues, the company has increased its previously issued guidance of US$150 million to that of between US$185 to US$190 million. The improvement represents a 23% to 27% increase in overall guidance.
Net income meanwhile is anticipated to come in between US$9.0 million and US$9.5 million, representing earnings per share of between C$0.29 and C$0.31. This guidance also increased substantially, climbing up to 38% from the previously provided guidance of US$6.9 million in net income for the year.
The company also indicated that it expects 2021 to be the year that it cracks the milestone of over 100,000 gold equivalent ounces produced in a year.
The company closed this mornings announcement by including some qualifiers for the guidance, effectively stating that the results are predicated on steady exchange rates, maintaining of gold grades, and the price of gold remaining in the area of US$1,785 per ounce.
Dynacor Gold mines last traded at $2.84 on the TSX.
Information for this briefing was found via Sedar, and Dynacor Gold Mines. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
