MONTREAL, February 21, 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$26.9 million (C$36.1 million) (1) for January 2024 compared to US$8.6 million (C$11.5 million) in January 2023 as the plant continued running at full capacity, processing 15,000 tonnes.
Sales increase of US$18.3 million compared to January of last year is due to increases in sales volumes (+US$16.3 million) and in sales prices (+US$2.0 million). In January of last year, due to the political unrest situation, the Corporation had decided from January 16, to postpone all exports until February 2023. Additionally, due to a last-minute flight cancellation, the last prepared 2023 export was postponed in the new year and consequently is included in the January 2024 sales.
In January, the average selling price of gold was US$2,030 per ounce, compared to US$1,883 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: 36,498,831
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
Contacts
For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Group Inc.
T: 514-393-9000 #230
E: [email protected]
