A Few Key Facts About Dynatec Corporation:
Some Money Facts !
1) Shareholder equity as of April 1998 is $67,222,000 or .59 cent per share Basic / .51 cents per share Fully Diluted.
2) As of May 1998, DY had $31,855,000 million CDN in cash or .28 cents per share (Basic)
3) Year end 1997 DY had revenues of $163.8 million CDN and net earnings of $5.2 million or .046 cents per share.
4) Revenues for the 1Q of 1998 were up 21% to $42.5 million CDN. Profits for the 1Q were $1.8 million or .016 cents per share.
What Does Dynatec Do ?
The Company has 4 Divisions:
1) Mining and Mine Management
Dynatec offers full service contract mining, mine development, and underground construction. DY has mined over 3 million tons of ore on a contract basis for Inco. The flagship project is the Inco Shebandowan Mine near Thunder Bay, Ontario. DY has also operated a gold mine in BC for a period of five years. Both operations surpassed the profit expectations of the mine owners.
2) Drilling
The Company offers a complete range of exploration and general drilling services to international mining, geothermal, and geoscientific communities. DY has over 80 drill rigs. They have rigs stationed in Alaska, Western Canada, Eastern US, Mexico, Chile, and Indonesia.
3) Hydrometallurgical Plant Design
DY is a recognized leader in pressure hydrometallurgy and has over 40 years experience in developing and commercializing these technologies for the treatment and recovery of nonferrous metals. These technologies are currently licenced to several major mining companies.
4) Mine Construction and Civil Construction
DY has completed the installation of nineteen mine hoist, eight headframes, three jaw crushers, one gyratory crusher, over 10,000 feet of conveyer galleries and serveral underground and surface electrical power substations. The Company has sunk over 39,000 feet of mine shafts, installed underground explosive magazines, sumps and dams, mine dewater systems, etc.
The Company has also provided services to customers in the civil underground construction industry. DY recently completed an underground powerhouse excavaton for a hydro project in Northern Ontario and ground stabilization and construction work for The Sudbury Neutrino Observatory at the Creighton mine in Sudbury, Ontario.
Some Interesting Facts:
1) W.Robert Dengler, President and CEO of DY owns 26,489,038 Common shares or 23.3% of the company. Directors and senior officers of the Company as a group own over 38.6 million Common Shares in total, or 34% of the Company.
2) As of April 1998, Altamira Investments held 3 million shares of DY in 2 of its mutual funds.
3) Dynatec sunk the deepest mine shaft in North America, a project completed for Kinross Gold. DY also developed and constructed the Meikle Mine, the largest underground gold mine in North America. To date the Company has completed over 39,000 feet if mine shaft sinking, 700,000 feet of lateral mine development and 150,000 feeet of raise boring.
4) Dynatec owns patents to more than 250 inventions that are in use by 25 major mining companies.
What Has Dynatec Done So Far In 1998 ?
1998-01-14
DY was awarded a contract from Barrick Gold to deepen the Meikle Mine. The contract value is US $12.5 Million. Work began immediately and will conclude by the 2Q of 1999.
1998-04-14
DY was awarded a US $9.5 million contract from the North American Salt Company to sink a 1600 foot deep circular concrete lined production shaft. Work began immediately and will conclude is the 3Q of 1999.
1998-05-14
DY announced the construction of Phase 1 of a new Metallurgical Centre in Fort Saskatchewan, Alberta at the cost of $2 million. The new centre will employ over 80 professionals and technical staff.
1998-06-1
DY announced an agreement with United Keno. The joint venture will see DY rehabilitate, develop, and operate the mine and mill at the Elsa property in central Yukon. DY will put up $11 million plus purchase $1.5 million worth of United Keno shares. With more than 30 million ounces of silver proven, the JV will produce 6 million ounces of silver per year. Silver at $8.03 CDN per ounces means annual revenues will be over $48 million CDN per year.
INTERESTING COMPANY AND A UNDERVALUED PENNY STOCK !!!
Rich N. |
