I boosted my Dynacor position again, this time by 11%, at $5.50, taking the position to about 7.7%. Overall since the offering announcement, I have almost doubled my position. Although their growth plans can be lumpy, the company is looking at delivering over $1bn in revenue by 2030 (2024 will be around $284m). With solid profitability, a net cash balance sheet, and an inexpensive multiple of around 5X trailing earnings, I think Dynacor has solid prospects on its own and increases to the price of gold would be gravy on top.
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I like buying following the weakness from the raise. Curious, why do you think they are raising? And even expanded their raise. I assume they want some institutional ownership, but I wonder if they can even "move" the cash on the balance sheet from Peru...without a tax hit? Curious to get your thoughts.