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Dynaresource Inc (DYNR-2.17%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, focusing on its 100% owned San Jose de Gracia gold project in Mexico. The company reported revenues of $46.5 million for 2024, an increase from $35.6 million in 2023, primarily due to higher net revenue per ounce of gold sold.
Mine production costs rose to $15.1 million from $11.2 million, attributed to increased mined tonnage. Development and stripping costs also increased to $11.8 million from $8.3 million, reflecting higher extraction volumes.
Net loss for the year was $8.1 million, compared to a net loss of $14.5 million in 2023. The company attributes the reduced loss to increased revenues and decreased legal expenses.
Dynaresource processed 257,676 tons of material in 2024, producing approximately 25,677 ounces of gold. The company plans to increase daily processing throughput to 800 tons in 2025.
The company continues to classify as an exploration stage issuer under Regulation S-K 1300, with costs related to site operations and development expensed as incurred.
Dynaresource's liquidity and operations have been primarily financed through operations and the sale of common stock. As of December 31, 2024, the company had negative working capital of $15.3 million.
The company's exploration plans for 2025 include continued drilling at the San Jose de Gracia project, with a focus on expanding the mineral resource base.
Dynaresource's legal proceedings include a resolved arbitration with Goldgroup Resources Inc and ongoing arbitration with Mercuria Energy Trading S.A.
The filing also reports on the company's compliance with various Mexican governmental regulations, including environmental and mining laws.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dynaresource Inc annual 10-K report dated April 7, 2025. To report an error, please email earnings@qz.com.