08:06 AM EDT, 10/11/2024 (MT Newswires) -- Dynacor Group ( DNGDF ) 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 ( DNGDF ).

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 ( DNGDF ) share price rose 3.3% yesterday to a 52-week high of $5.75.