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MONTREAL, November 16, 2023–(BUSINESS WIRE)–Dynacor Group Inc. (TSX-DNG) (Dynacor or the “Company”), a foreign gold ore trading corporation serving artisanal and small-scale miners (ASMs), announced that it has already surpassed its 2022 overall sales and recorded unaudited gold sales of US$20. 9 million (C$28. 6 million) (1) for October 2023, compared to US$14. 7 million (C$20. 1 million) in October 2022, a cumulative of $14. 7 million (C$20. 1 million) in October 2022. $6. 2 million, or 42. 2% from last year.
The increase in sales up to October last year is due to the increase in sales volume (20. 4%) and the increase in costs of sales (21. 8%).
In October 2023, the Veta Dorada plant processed 15,005 tonnes (cumulative to date of 141,837 tonnes).
In October, the average selling price of gold was $1,938 per ounce, up from $1,643 per ounce in October 2022.
Cumulative sales from 2023 to the end of October were US$205. 5 million, compared to US$164. 7 million for the same period in 2022, an increase of 24. 8%. The average advertising value of gold at the end of October 2023 was a constant US$1,923. per ounce, compared to $1,803 per ounce in 2022.
For 2023, the company expects sales of between $210 million and $235 million, based on an average gold value of between $1,800 and $1,900 per ounce. At the current pace, overall sales for 2023 are expected to be successful. $245 million, an increase of 4. 3 per cent over the higher annual projection.
(1) Sales are commuted to the average monthly exchange rate
ABOUT DYNACOR
Dynacor is a dividend-paying commercial gold ore processor headquartered in Montreal, Canada. The company is engaged in the production of gold by processing ore purchased from the ASM (artisanal and small-scale mining) industry. Dynacor currently operates in Peru, where its control and transformation groups have decades of experience working with ASM miners. It also owns a gold exploration asset (Tumipampa) in the department of Apurímac.
The company also intends to expand its processing operations in jurisdictions.
Dynacor produces environmentally and socially culpable gold with its PX IMPACT® gold program. An increasing number of caring corporations in the luxury fine jewelry, watchmaking and investment sectors are paying a small premium to our consumer and strategic spouse for this PX IMPACT® gold. The grant provides direct investment to expand education and fitness projects for our artisanal and small-scale mining communities.
Dynacor is listed on the Toronto Stock Exchange (DNG).
FUTURE INFORMATION
Certain statements contained herein would possibly constitute forward-looking statements, involving known and unknown risks, uncertainties and other points that would possibly cause Dynacor’s actual results, functionality or achievements, or industry results, to be materially different from any long-term results. or achievement expressed or implied by such forward-looking statements. These statements reflect management’s existing expectations related to long-term events and operational functionality as of the date of this press release.
Shares outstanding: 38,191,548
Website: http://www. dynacor. com Twitter: http://twitter. com/DynacorGold
See the edition on businesswire. com: https://www. businesswire. com/news/home/20231116295499/en/
Contacts
For information, please contact 😀 Director, Shareholder Relations Dale NejmeldeenGroupe Dynacor Inc. T: 514-393-9000 #230E: investisseurs@dynacor. com