MONTREAL / May 17, 2023 / Business Wire / Dynacor Group Inc. (TSX-DNG) (Dynacor or the “Corporation”), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced that it had recorded unaudited gold sales of US$19.1 million (C$25.8 million) (1) for April 2023, compared to US$17.6 million (C$22.2 million) in April 2022, an increase of US$1.5 million or 8.5% over last year.
Sales increase versus April of last year is due to increase sales volume (+4.0%) and increase sales price (+4.5%).
In April, the average selling price of gold was US$ 1,998 per ounce, compared to US$1,915 per ounce in April 2022.
The 2023 cumulative sales at the end of April amounted to US$75.8 million, compared to US$67.7 million for the same period of 2022, a 12.0% increase. The average selling price of gold at the end of April 2023 was US$1,904 per oz compared to US$1,889 per oz in 2022.
During April 2023, the Veta Dorada plant processed 12,897 tonnes (cumulative year to date of 54,463 tonnes).
For 2023, the Corporation forecasted sales in the range of US$210-$235 million based on an average gold price between US$1,800 and US$1,900 per ounce.
(1) Sales are converted using the monthly average exchange rate
Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.
The corporation intends to expand its processing operations in other jurisdictions as well.
Dynacor produces environmental and socially responsible gold through its PX IMPACT® gold program. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale miner’s communities.
Dynacor is listed on the Toronto Stock Exchange (DNG).
Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
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