08:06 AM EDT, 10/11/2024 (MT Newswires) -- Dynacor Group (DNG.TO) said on Friday that it will build a processing pilot plant in Senegal to produce gold from ore purchased from small artisanal miners.

The plant will have an initial capacity of 50 tm/d, and construction is scheduled to commence in the first half of 2025, according to Dynacor.

The company said its Senegalese subsidiary Galam SA will develop the pilot plant project.

In 2024, Galam acquired a local company holding a mining concession covering an area of 50 hectares, which will be used for the construction of the pilot plant.

Dynacor's share price rose 3.3% yesterday to a 52-week high of $5.75.

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