Dynaresource, Inc.

DynaResource, Inc. is a U.S.-based minerals company focused on advancing and operating the high-grade SJG gold mine in Mexico through its wholly owned subsidiary, DynaMéxico. The business combines gold production, mine development, and near-mine exploration to expand the resource base and increase processing throughput at the San Jose de Gracia property.

18,2 %

29,6 %

6,5 %

+25,7 %

0.24

0.21

— Dynaresource, Inc.
%
Gold production70% Mining, milling, and sale of gold concentrate from the SJG mine.
Mine development15% Underground development, ventilation, access, and site infrastructure improvements.
Exploration and resource growth10% Near-mine drilling, geological studies, and resource estimate work to expand reserves and resources.
Processing and technical services5% Mill optimization, concentrator installation, and technical evaluation of the deposit.

The company’s direct customer base is concentrated in concentrate buyers and smelter/offtake counterparties that...

  • Gold concentrate buyersprimary

    Buy gold concentrate from SJG under smelter terms and pay based on payable gold content.

  • Smelters and refinersprimary

    Process the concentrate into refined metal and influence payable value through contract terms.

  • Equity and debt capital providerssecondary

    Provide financing for underground development, exploration, and expansion before full-scale cash generation.

  • Gold market end demandprimary

    Final demand for gold supports pricing and economics even though the company sells concentrate, not finished jewelry or bullion.

Operations are centered in Mexico, where the company conducts mining, milling, and exploration through DynaMéxico at...

  • •Mexico is the operating base for the SJG mine and all site activity
  • •United States is the corporate home and capital-markets base
  • •Potential Canada/U.S. exchange ambitions affect governance priorities
  • •Single-site concentration increases exposure to local permitting and execution risk
  • •Cross-border structure links Mexican operations to U.S. reporting and financing

Management is focused on turning the SJG asset into a larger, more productive gold operation by expanding underground...

01
Expand SJG underground infrastructureshort-term

More development meters and better access should support higher mining rates and longer mine life.

02
Increase processing throughputshort-term

Higher mill capacity improves the ability to convert mined material into saleable concentrate.

03
Grow mineral resources through explorationmedium-term

Resource expansion supports mine life, reserve conversion, and future production visibility.

04
Strengthen governance and capital accessmedium-term

Better governance can improve financing options and support additional exchange listings.

The company is exposed to single-asset operational risk because most value depends on the SJG mine, where production,...

high

Single-asset concentration at SJG

Most operating value is tied to one mine, so disruptions or underperformance there can materially affect results.

Scope
SJG mine in Mexico
Materiality
high
high

Gold price volatility

Revenue and project economics depend on realized gold prices and payable concentrate value.

Scope
Gold concentrate sales
Materiality
high
high

Financing and liquidity risk

Underground development and exploration require ongoing capital, and the company may need additional equity or debt.

Scope
RCL, equity issuance, working capital
Materiality
high
high

Operational and permitting risk in Mexico

Mining, ventilation, and mill upgrades depend on local execution, approvals, and site conditions.

Scope
Mexico operations
Materiality
high
medium

Resource and reserve estimation risk

Exploration results and technical studies can change the size, grade, and economic viability of the deposit.

Scope
San Pablo, La Mochomera, Tres Amigos, SJG
Materiality
medium
Capitalization of mine development costs
Affects operating costs, PP&E, and future depreciation/depletion
Units-of-production depreciation and depletion
Affects gross margin and operating profit timing
Derivative liability fair value
Affects other income/expense and net income
Asset retirement obligation
Affects long-term liabilities and periodic expense
Lease accounting
Affects financing cash flows and balance sheet obligations

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: 28/04/2026