Dynacor Announces May 2021 Sales of US$15.7 Million (C$19.0 Million) and Cumulative 2021 Sales of US$69.1 Million (C$86.4 Million)
Dynacor Gold Mines reported sales of US$15.7 million in May 2021, marking a 26% month-over-month increase and a cumulative total of US$69.1 million for the year. The company is on track to exceed its 2021 financial guidance of US$150 million in sales. With its plant expansion nearing completion, Dynacor's processing capacity will increase to 430 tonnes per day, up from 345 TPD, amid rising ore supply. The average gold price in May was US$1873 per ounce.
- Achieved US$15.7 million in May 2021 sales, a 26% increase from April.
- Total sales for 2021 reached US$69.1 million, indicating strong performance.
- Plant expansion will increase processing capacity to 430 tonnes per day.
- None.
MONTREAL, June 10, 2021 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced US
Reporting its second-best month of sales year to date and a
(1) sales are converted using the monthly average exchange rate
Plant Expansion: Construction Progress Update
The expansion nearing completion will permit Dynacor to maintain a maximum gold recovery rate and boost processing volumes to 430 tonnes per day (TPD). Due to a significant rise in ore supply over the last number of months, Dynacor has been steadily growing its throughput levels from its nameplate capacity of 300 TPD. As of today, the plant is operating at its maximum rate of 345 TPD. The expansion, which began in March, is progressing as planned and will be complete in the coming days.
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) and the OTC in the United States under the symbol (DNGDF).
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.
Toronto Stock Exchange (TSX): DNG
OTC (United States): DNGDF
Shares Outstanding: 38,864,341
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
PDF available: http://ml.globenewswire.com/Resource/Download/20353612-5b39-405a-b436-129d519f3a6a
FAQ
What were Dynacor Gold Mines' sales figures for May 2021?
How much have Dynacor's cumulative sales reached in 2021?
What is Dynacor's financial guidance for 2021?
What is the processing capacity of Dynacor after expansion?
What was the average gold price in May 2021?
