Dynacor sets out work update for Senegal, Ecuador

Executive Summary

• Dynacor Group Inc. provided an operational update on its expansion projects in Senegal and Ecuador, confirming that both facilities remain on track to process their first ore in 2026.
• The Senegal pilot plant is scheduled for first ore in Q2 2026, with site work and equipment shipments proceeding on schedule.
• The Ecuador integration of the Svetlana plant is scheduled for first ore in Q4 2026, with major contracts awarded and key personnel recruitment underway.
• New developments include advancing discussions with Ghana's GoldBod regarding potential operations and ongoing community engagement initiatives in Senegal and Ecuador.

Key Details

• Senegal Project Status:
  • First ore processing is targeted for the second quarter of 2026.
  • Site preparations are progressing to plan, including concrete foundation pours, tailings pond cells, fencing, and access roads.
  • The water borehole for plant supply has been completed.
  • Equipment deliveries to site include the Merrill Crowe circuit, jaw crusher, leaching tanks, offices, and laboratory.
  • All remaining equipment is either in Dakar or in transit.
  • Pricing discussions are underway with local artisanal sites to supply small ore feedstock for the pilot plant.
• Ecuador Project Status:
  • First ore processing is targeted for the fourth quarter of 2026.
  • Engineering, procurement, and construction management contract awarded for the upgrade of tailing ponds.
  • Dynacor's self-performing project team is on site, favoring local Ecuadorean suppliers.
  • Main requests for quotation are being prepared for critical path activities.
  • Subsidiary established as Sumacor-EC; recruitment of key personnel has begun with first operational hires on site.
  • Waste repurposed through delivery to authorized third-party recycling companies.
• Ghana Developments:
  • Discussions with Ghana's GoldBod are deepening regarding the structure of potential operations.
  • The corporation aims to strike an agreement generating long-term value for all stakeholders.
• Community and Social Initiatives:
  • Senegal: Partnership agreement signed between Galam SA (Dynacor subsidiary) and a local technical/industrial/mining high school for youth internships; local road upgrade; donation of school supplies.
  • Ecuador: Support for local communities including employment promotion for single mothers, solid waste management training, and road infrastructure improvement.
  • Ecuador 2026 Plan: Data collection campaign to improve socio-economic information for host communities.

Notable Quotes

• "Discussions are deepening with Ghana's GoldBod regarding Dynacor's proposal for the structure of its potential operations in Ghana. The corporation is optimistic that an agreement with GoldBod can be struck that will generate long-term value for all stakeholders."