Dundee Corporation reports 2024 profit and strategic achievements

Dundee Corporation announced its financial results for 2024 and described significant changes over the past year. Jonathan Goodman, the President and CEO, noted that the company made progress in achieving its strategic goals. In the third quarter of 2024, Dundee sold 11 million shares of G Mining Ventures Corp. for nearly $96 million. This money helped to pay off preferred shares and reduce corporate loans, improving Dundee’s financial situation. The company plans to focus on increasing its cash flow sources in 2025. The Borborema Project, which Dundee is involved with, is reportedly on track for development, with operations expected to ramp up early in 2025. This project is seen as a way to strengthen the company's financial position. Dundee has also been simplifying its operations by selling non-core businesses. Recently, it exited the investment management sector and reduced its involvement in Android, indicating a shift towards focusing more on mining. In its financial performance, Dundee reported a net loss of $4.2 million from mining investments in the fourth quarter. However, for the whole of 2024, the company generated a profit of $61.6 million in this segment, a significant turnaround from the previous year's loss. Overall, Dundee Corporation remains committed to its core mining activities and aims to build long-term value for its stakeholders.