# Dynacor Enters US$20 Million Gold Facility for Its Ecuador Plant

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/48317
Published: 2026-11-04T07:09:47.000Z
Updated: 2026-11-04T07:09:47.000Z
Section: Business

> The unsecured, two-year arrangement caps outstanding prepayments and undelivered bullion at US$20 million combined. Dynacor plans to use proceeds for working capital, including inventory for its Svetlana plant.

Dynacor Group Inc. agreed with Auramet International on an unsecured facility for gold sales and prepayments, capped at US$20 million, as it prepares its Ecuador plant for production.

The limit applies to outstanding prepayments and gold that has not yet been delivered, counted together. It does not mean Dynacor received US$20 million in cash. The company plans to use net proceeds for working capital, particularly to build inventory for the Svetlana plant, and has not disclosed how much it has drawn.

The agreement runs for two years and may be extended in one-year increments by mutual agreement. The agreement permits subsidiaries to use spot sales, forward sales, in-process sales or prepayments for their gold, subject to customary conditions. The facility also allows revolving prepayments against specified quantities of London Good Delivery bullion before delivery. Its terms include covenants and mandatory repayment provisions.

Dynacor President and CEO Daniel Misiano said the facility provides “non-dilutive capital and flexibility for Svetlana,” which he called the cornerstone of the first phase of the company’s expansion strategy.

The financing comes as the plant moves toward commissioning. Svetlana was 82% rehabilitated as of Sept. 30, and first ore passed through its crushing circuit at the end of October. Hot commissioning is scheduled for December, followed by a ramp-up in the first quarter of 2027. Dynacor has scheduled its first gold pour for January 2027.