MONTREAL–Mar 20, 2024–(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$20.1 million (C$27.1 million) (1) for February 2024 as the plant continued running at full capacity, processing 14,000 tonnes. In 2023, February sales amounted to US$28.6 million (C$38.5 million).
The negative variance of US$8.5 million compared to February of 2023 is explained by the postponement to February, of January 16 to January 31 2023 planned exports which contributed to significantly higher monthly sales in February 2023.
Cumulative sales after two months in 2024 amount to US$47.0 million (C$63.5 million) compared to US$37.2 million (C$50.0 million) in 2023, a 26.3% increase.
In February, the average selling price of gold was US$2,032 per ounce, compared to US$1,845 per ounce last year.
(1) Sales are converted using the monthly average exchange rate
ABOUT DYNACOR
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).
FORWARD-LOOKING INFORMATION
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.
Shares Outstanding: 36,523,356
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Group Inc.
T: 514-393-9000 #230
E: [email protected]
