Dynacor Group (DNG) Q3 2026 earnings summary

Executive summary

• Record Q3 throughput of 48,373 tonnes (526 tpd) supported production of 34,716 AuEq oz; production and sales tracked the upper end of FY2026 guidance.

• Q3 sales reached $149,585,152, while net income declined to $2,871,564; expansion continued in Senegal and Ecuador.

Financial highlights

• Q3 sales rose to $149.6M from $100.5M, driven by higher gold prices and ounces sold; gross operating margin fell to $9.0M from $11.7M.

• Q3 operating income was $5.7M versus $8.0M; net income was $2.9M versus $5.5M, and EBITDA was $6.7M versus $9.0M.

• Nine-month sales reached a record $448.1M versus $260.2M; gross operating margin was $32.0M versus $27.8M and operating income $20.8M versus $17.4M.

• Nine-month net income was $11.3M versus $14.1M; EBITDA was $23.4M versus $22.0M.

• Q3 operating cash flow was $26.8M, including a $22.8M working-capital inflow; nine-month operating cash flow was $21.5M.

Outlook and guidance

• FY2026 sales guidance remains $530M–$580M and production guidance 125,000–135,000 AuEq oz; YTD sales were $448.1M and production 99,414 oz.

• Net income guidance was revised to $16M–$18M; capex guidance was reduced to $27M–$30M as investments shifted to 2027.

• Guidance assumes a $4,200/oz gold price, steady Peru ore supply, first ore from Senegal and Ecuador, and Svetlana exiting 2026 at ~150 tpd.

• Svetlana hot commissioning was rescheduled for December 2026, with ramp-up planned in Q1 2027 following supplier delays and additional elution/refinery work.