“Svetlana”, the newly acquired processing plant, is located in Portovelo, in the El Oro province of southern Ecuador. The carbon-in-pulp (CIP) plant was operated intermittently between 2011-2020, and has been in care and maintenance since Q2-2020. Under its international expansion plan, Dynacor will pay a total consideration of $25 million including the purchase price to upgrade the plant and prepare for ramp up to 300 tpd operating capacity in 2026. The transaction will be funded with proceeds from the $22.1 million financing carried out earlier this year.