Dynacor signs MoU with Ghanaian partner

Dynacor Group Inc. (DNG) has signed a Memorandum of Understanding (MOU) with Ansong Askew Ltd. in Ghana. This MOU sets a framework for planning and due diligence. The goal is to establish a joint venture agreement (JVA) in Ghana's gold processing sector.

The collaboration aims to explore business opportunities for both organizations. It will also 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 small-scale gold activities in the country.

Scope of the MOU

The 12-month MOU allows both parties to integrate their technical and commercial capacities. They intend to collaborate in good faith towards a JVA. A future agreement will outline the structure, equity, governance, and profit-sharing terms of the joint venture, with Dynacor holding a majority position.

Jean Martineau, President and CEO of Dynacor, stated that this MOU marks an important step in Ghana. He expressed excitement about exploring new opportunities that could enhance shareholder value.

Elena Ansong, Managing Director of Ansong-Askew, highlighted their shared commitment to environmentally friendly practices. Together, they aim to strengthen Ghana’s position in the gold mining industry.

Next Steps

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. Based on these interactions, Dynacor plans to acquire land or a processing plant informed by geological research.

About Ansong Askew

Ansong Askew Ltd., based in Ghana since 2017, focuses on small-scale gold mining. They engage with government and civil society to formalize this sector. Their work includes establishing compliance frameworks and market pathways for responsible gold supply chains.

About Dynacor

Dynacor Group processes gold sourced from artisanal miners since 1996. They emphasize traceability and audit standards within the artisanal mining industry. The company operates the Veta Dorada plant and owns exploration property in Peru while planning expansion into West Africa.

Luxury jewellers pay a premium for Dynacor’s PX Impact® gold, benefiting health and education projects for communities in Peru through Fidamar Foundation.

For more information about Dynacor, visit www.dynacor.com.

Forward-Looking Information

Some statements may be forward-looking and involve risks or uncertainties that could affect actual results or performance compared to expectations outlined here.