Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>DNG continued to take advantage of the high gold price in Q2, beating revenue and profitability estimates, boosting its cash balance and reducing development risk as it enters its next phase of growth.</li>
<li>Dynacor posted record cash gross operating margin of $346/oz AuEq sold, compared to $234/oz in Q2/23 and our estimate of $233/oz.</li>
<li>DNG added to its strong balance sheet with $35M in cash (up from $28M in December 2023), $55M in working capital, and negligible debt.</li>
</ul>


DNG continued to take advantage of the high gold price in Q2, beating revenue and profitability estimates, boosting its cash balance and reducing development risk as it enters its next phase of growth.
Dynacor posted record cash gross operating margin of $346/oz AuEq sold, compared to $234/oz in Q2/23 and our estimate of $233/oz.
DNG added to its strong balance sheet with $35M in cash (up from $28M in December 2023), $55M in working capital, and negligible debt.


DNG: Q2 Financials - Margins Improve Further

<ul>
<li>DNG took advantage of the elevated gold price in Q1, posting significant beats on revenue and profitability.</li>
<li>This sets the Company up well for another record year and boosts its cash balance for growth initiatives.</li>
<li>Dynacor continued to return capital to shareholders, buying back 927K shares ($2.7M) during the quarter.</li>
</ul>


DNG took advantage of the elevated gold price in Q1, posting significant beats on revenue and profitability.
This sets the Company up well for another record year and boosts its cash balance for growth initiatives.
Dynacor continued to return capital to shareholders, buying back 927K shares ($2.7M) during the quarter.


DNG: Q1 Financials; Large Beat on Earnings

<ul>
<li>July was the second consecutive negative month for all 17 metals in our coverage except for gold, however, mining equities largely outperformed.</li>
<li>As anticipated in our last Mining Monthly, the June sell-off marked a great buying opportunity in the metals equities.</li>
<li>We are excited by the continued outperformance in the mining sector compared to broader markets as we believe this will begin attracting generalist investors to the space.</li>
</ul>


July was the second consecutive negative month for all 17 metals in our coverage except for gold, however, mining equities largely outperformed.
As anticipated in our last Mining Monthly, the June sell-off marked a great buying opportunity in the metals equities.
We are excited by the continued outperformance in the mining sector compared to broader markets as we believe this will begin attracting generalist investors to the space.


Lake Victoria Gold Ltd - Mining Monthly: July Edition

<ul>
<li>As we conclude Q2/24, we are excited to release our inaugural quarterly recap report to update our readers on all the research content we have published in the last three months.</li>
<li>This period has been marked by dynamic performance across various sectors, with notable highlights in the companies we cover.</li>
<li>The best performers from our coverage universe include, ADF Group (+74%), Trigon Metals (+39%), BQE Water (+29%), and Dynacor Group (+12%).</li>
</ul>


As we conclude Q2/24, we are excited to release our inaugural quarterly recap report to update our readers on all the research content we have published in the last three months.
This period has been marked by dynamic performance across various sectors, with notable highlights in the companies we cover.
The best performers from our coverage universe include, ADF Group (+74%), Trigon Metals (+39%), BQE Water (+29%), and Dynacor Group (+12%).


Omai Gold Mines Corp - Q4/24 Recap: All Our Research in One Place!

<ul>
<li>May was silver’s time to shine, hitting 12-year highs up 13.7% on the month, significantly outperforming gold and other metals.</li>
<li>The silver equities also followed suit, up 13.4%.</li>
<li>Gold and copper posted smaller gains, despite both metals setting all-time highs mid-month, closing up 0.2% and 1.7%, respectively.</li>
</ul>


May was silver’s time to shine, hitting 12-year highs up 13.7% on the month, significantly outperforming gold and other metals.
The silver equities also followed suit, up 13.4%.
Gold and copper posted smaller gains, despite both metals setting all-time highs mid-month, closing up 0.2% and 1.7%, respectively.


Omai Gold Mines Corp - Mining Monthly: May Edition

Canada

Dynacor Group Inc. provides exploration and mining services. The Company explores and develops gold projects. Dynacor Group serves customers worldwide.

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Dynacor Group (DNG CN)

DNG: Q2 Financials - Margins Improve Further

Dynacor posted record cash gross operating margin of $346/oz AuEq sold, compared to $234/oz in Q2/23 and our estimate of $233/oz.

Atrium Research

DNG: Q1 Financials; Large Beat on Earnings

DNG took advantage of the elevated gold price in Q1, posting significant beats on revenue and profitability. This sets the Company up well for...

Atrium Research

Lake Victoria Gold Ltd - Mining Monthly: July Edition

July was the second consecutive negative month for all 17 metals in our coverage except for gold, however, mining equities largely outperformed.

Atrium Research

Omai Gold Mines Corp - Q4/24 Recap: All Our Research in One Place!

As we conclude Q2/24, we are excited to release our inaugural quarterly recap report to update our readers on all the research content we have...

Atrium Research

Omai Gold Mines Corp - Mining Monthly: May Edition

May was silver’s time to shine, hitting 12-year highs up 13.7% on the month, significantly outperforming gold and other metals. The silver equities...

Atrium Research

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