Bolstered Ore Purchases Drives Dynacor to Monthly Sales of US$23.9 Million (C$31.8 Million) for June 2023
A Monthly Record Gold Production of Over 11,600 AuEq Ounces and Quarterly Sales High of US$64.5 Million in Q2-2023Dynacor Group Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced monthly sales of US$ 23.9 million, historical highs monthly gold production of 11,619 AuEq ounces and quarterly sales of US$64.5 million.
For June 2023, gold sales amounted to US$23.9 million (C$31.8 million) (1) (unaudited), compared to US$16.8 million (C$21.5 million) in June 2022, an increase of US$7.1 million or 42.3% over last year. This sales increase is due to increase sales volume (+34.5%) and increase sales price (+7.7%).
In June, the average selling price of gold was US$ 1,933 per ounce, compared to US$1,829 per ounce in June 2022.
The month-to-month sales increased by US$2.4 million (C$2.7 million) or 11.2% over May 2023.
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.
The 2023 cumulative sales at the end of June amounted to a historical high of US$121.2 million, compared to US$104.0 million for the same period of 2022, a 16.5% increase. The average selling price of gold at the end of June 2023 was US$1,923 per ounce compared to US$1,870 per ounce in 2022.
| (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.
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Website: http://www.dynacor.com
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