Dynacor signs MoU with Ansong-Askew to launch joint venture in Ghana’s gold sector

Dynacor Group Inc. (TSX: DNG) has signed a Memorandum of Understanding (MOU) with Ansong Askew Ltd. in Ghana.

This MoU sets a framework for planning and due diligence. It aims to establish a Joint Venture Agreement (JVA) in Ghana's gold processing sector.

The collaboration will explore business opportunities for both organizations. It also aims to help regulate Ghana’s artisanal mining sector. This will enable the Ghana Gold Board and miners to work together effectively.

Dynacor brings expertise in processing artisanal gold ore. Ansong-Askew offers a strong commercial network and influence.

The Ghana Gold Board is responsible for regulating artisanal and small-scale gold activities in the country.

Under the 12-month MoU, both parties will integrate their technical and commercial strengths. They intend to collaborate in good faith towards a JVA.

A future agreement will outline the joint venture's structure, equity, governance, and profit-sharing terms. Dynacor will hold a majority position in this venture.

Jean Martineau, President and CEO of Dynacor, expressed excitement about this partnership. He noted it is an important step in Ghana, Africa's leading country for artisanal mining.

Elena Ansong, Managing Director of Ansong-Askew, highlighted their shared commitment to environmentally friendly practices. She stated they aim to enhance Ghana’s leadership in the gold mining industry.

Currently, Dynacor is attending the Mining in Motion summit in Accra. They have held discussions with the Ghana Gold Board and other stakeholders in artisanal mining.

Building on this MoU, Dynacor plans to acquire land or a processing plant based on geological research and meetings.