08:52 AM EST, 02/11/2025 (MT Newswires) -- Dynacor Group ( DNGDF ) said Tuesday that it plans to open new processing plants in Africa and Latin America.

The company aims to launch one plant each in Senegal, Cote d'Ivoire and Ghana, and one in either Peru or Ecuador.

Dynacor ( DNGDF ) said the planned expansion is part of its goal to produce 500,000 ounces of gold equivalent and $1 billion in sales by 2030.

Construction of the pilot plant in Senegal is estimated to cost US$4 million, with completion targeted by the first quarter of 2026 at the latest.

For its plant in Latin America, Dynacor ( DNGDF ) estimates the construction of a 300-tonne-per-day mill to cost between $23 million and $25 million, with working capital projected at $7 million to $8 million.

The company recently closed an upsized public offering for $31.6 million in proceeds, which it plans to use for its expansion plans.

Dynacor's ( DNGDF ) share price gained 2.3% on Monday to $5.55 on the TSX.