Dynacor Group Forges Ahead in West Africa with Senegal Plant and Ghana Partnership

Dynacor Group, a Canadian industrial gold ore processor, is significantly expanding its footprint in West Africa. The company announced plans for a pilot gold processing plant in Senegal and a strategic Memorandum of Understanding (MOU) with a Ghanaian partner, Ansong Askew Ltd., signaling a major push into the region's artisanal gold mining sector.

Dynacor's West African Expansion

Dynacor's strategic move into West Africa is a cornerstone of its plan to produce 500,000 ounces of gold by 2030. This expansion leverages the company's expertise in responsible gold production from artisanal and small-scale mining (ASM) operations, a model successfully implemented in Peru.

Senegal Pilot Plant: A Strategic Foothold

Dynacor, through its wholly-owned Senegalese subsidiary Galam SA, plans to construct a gold ore processing pilot plant in the Kédougou region of eastern Senegal. This 50-tonnes-per-day capacity plant aims to:

• Establish financial and operational parameters for larger commercial operations in West Africa.
• Process gold from ore purchased from small artisanal miners.
• Utilize a 50-hectare mining concession acquired in 2024 for construction.

Geological studies conducted since 2018 have indicated attractive gold volumes and grades, supporting the profitability of this venture. An environmental impact study is underway, with construction anticipated to begin in the first half of 2025.

Ghana Partnership: Formalizing the Gold Sector

Dynacor has signed a Memorandum of Understanding (MOU) with Ansong Askew Ltd., a Ghana-UK company, to explore a joint venture in Ghana's gold processing sector. This collaboration aims to:

• Formalize Ghana's artisanal mining sector.
• Leverage Dynacor's expertise in traceable, scalable artisanal gold ore processing.
• Utilize Ansong-Askew's commercial network and influence.
• Work with the Ghana Gold Board to regulate and manage the purchasing, assaying, refining, and exporting of artisanal and small-scale gold.

The MOU, valid for 12 months, outlines a framework for due diligence and strategic alignment, with Dynacor expected to hold a majority position in any subsequent joint venture agreement. This partnership underscores Dynacor's commitment to promoting government-permitted, environmentally friendly artisanal gold processing.

Key Takeaways

• Dynacor Group is expanding its gold processing operations into West Africa, specifically Senegal and Ghana.
• A pilot plant in Senegal will establish operational parameters and process gold from artisanal miners.
• A strategic MOU in Ghana aims to formalize the artisanal gold mining sector through a joint venture.
• These initiatives are part of Dynacor's long-term goal to produce 500,000 ounces of gold by 2030 and reinforce its position as a leader in responsible gold production.

Sources

• Dynacor Group: Construction of a Pilot Plant in Senegal, Junior Mining Network.
• Dynacor Group Receives Positive ISS Recommendation FOR All Director Nominees and Meeting Resolutions at the
  Annual Meeting of Shareholders and Provides Corporate Updates, Junior Mining Network.
• Dynacor Group Inks Memorandum of Understanding with Ghanaian Partner, Junior Mining Network.