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Dundee Corp
Dundee Corp. operates as a holding company, which engages in the provision of investment advisory, corporate finance, energy, resources, agriculture, real estate, and infrastructure. The company is headquartered in Toronto, Ontario. The Company, through its operating subsidiaries, is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Its subsidiaries include Goodman & Company, Investment Counsel Inc., which is a portfolio manager across Canada and an investment fund manager in Quebec; United Hydrocarbon International Corp. is an exploration company; Dundee Sustainable Technologies Inc. is engaged in the development and commercialization of technologies for the treatment of materials from the mining industry; AgriMarine Holdings Inc. is engaged in fish farming activities using aquaculture technologies, and Dundee 360 Real Estate Corporation, which develops single purpose and mixed-use, residential and recreational real estate asset.
Dundee Corp. operates as a holding company, which engages in the provision of investment advisory, corporate finance, energy, resources, agriculture, real estate, and infrastructure. The company is headquartered in Toronto, Ontario. The Company, through its operating subsidiaries, is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Its subsidiaries include Goodman & Company, Investment Counsel Inc., which is a portfolio manager across Canada and an investment fund manager in Quebec; United Hydrocarbon International Corp. is an exploration company; Dundee Sustainable Technologies Inc. is engaged in the development and commercialization of technologies for the treatment of materials from the mining industry; AgriMarine Holdings Inc. is engaged in fish farming activities using aquaculture technologies, and Dundee 360 Real Estate Corporation, which develops single purpose and mixed-use, residential and recreational real estate asset.
Pretax Loss: Dundee reported a pretax loss of $48.7 million in Q3 2021, a sharp reversal from earnings of $16.5 million in Q3 2020.
Revenue Decline: Consolidated revenue for the quarter was $4.8 million, down from $5.1 million a year earlier.
Portfolio Depreciation: The value of publicly traded securities fell to $94.4 million from $100 million last quarter, mainly due to weakness in commodity markets.
Major Divestiture: The company completed the sale of Blue Goose's beef division for $71 million, using proceeds to significantly reduce debt.
Debt Reduction: Corporate debt was reduced from $37.1 million at quarter-end to $4.9 million post quarter, following the Blue Goose sale.
G&A Progress: General and administrative expenses were reduced, with further cuts targeted to align with a more focused mining investment strategy.
Mining Investment Focus: Dundee continued to build positions in mining companies, with notable increases in Mako Gold and Magna Mining.
Return Expectations: Management expects a 3 to 5 times return on most mining investments over 2–5 years, citing a disciplined, long-term approach.
