Hello, Pat. I just joined your Inner Circle today. I’m looking forward to receiving great information to help me achieve my financial goals. I’d like to ask about two speculative stocks. One, Dynacor Gold, is familiar to me, however moving forward do you think this is a good time to start buying? The second, Zenabis Global, grows cannabis. What are your thoughts? Should I start accumulating shares? Thanks.
A: Dynacor Gold Mines, $1.75, symbol DNG on Toronto (Shares outstanding: 38.8 million; Market cap: $69.0 million; www.dynacor.com), is a dividend-paying junior gold company headquartered in Montreal.
The company is engaged in production through the processing of ore purchased from the artisanal and small-scale mining industry in Peru. Dynacor then processes it into doré at its Veta Dorada plant, 600 kilometres south of Lima. (A doré bar is a semi-pure alloy of gold and silver. It is usually created at the site of a mine and then transported to a refinery for further purification.)
In 2019, Dynacor produced 80,677 ounces of gold, down slightly from 81,314 ounces in 2018.
At present, the company does not have any mining properties of its own in production.
In recent years, the Peruvian government has reinforced the inspection process at ports and airports in an effort to crack down on illegal gold mining and smuggling. Dynacor says that it only buys ore from suppliers that are registered in…
Privacy Policy and Terms of Use
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