Dynacor Announces October 2021 Sales of US$16.8 Million (C$20.9 Million), an Increase of 51% Compared to October 2020 and Annual Cumulative Sales of US$162.4 Million (C$203.2 Million) in 2021

Rhea-AI Summary

Dynacor Gold Mines Inc. reported monthly sales of US$16.8 million (C$20.9 million) for October 2021, a significant 51% increase from October 2020. Total sales for 2021 have reached US$162.4 million, marking a 119% rise compared to US$74.1 million in 2020. The average selling price of gold in October was US$1,772 per ounce. The corporation aims for projected sales between US$185 million and US$190 million for the year. Dynacor operates in Peru, focusing on socially responsible gold production that directly benefits artisanal miners.

Positive

• Monthly sales for October 2021 reached US$16.8 million, up 51% year-over-year.
• Total sales in 2021 have surged to US$162.4 million, a 119% increase from 2020.
• Projected sales for 2021 are between US$185 million and US$190 million.

Negative

• None.

MONTREAL, Nov. 30, 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 its monthly sales of US$16.8 million (unaudited) (C$20.9 million) ⁽¹⁾ for October 2021, a US$5.7 million (+51%) increase compared to October 2020.

The average selling price of gold per ounce in October was US$1,772.

Total sales to date in 2021 amount to US$162.4 million (C$203.2. million) compared to US$74.1 million (C$99.1 million) in 2020, an increase of 119%.

The Corporation announced in September its revised financial guidance with projected sales of between US$185 and $190 million for 2021 (see, September 22, press release DYNACOR INCREASES SALES AND EARNINGS GUIDANCE BY APPROXIMATELY 25% and 35% RESPECTIVELY).

In September, the Corporation recorded extraordinary sales of US$25.8 million (CA$32.7 million) with exports of over 14,000 AuEq oz, which included sales from prior periods of production.

⁽¹⁾   US$ sales are converted into CA$ using the average monthly exchange rate for the concerned month or months

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: 38 883 244

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

PDF available: http://ml.globenewswire.com/Resource/Download/d371ea42-9f01-4e9f-9b8c-3c6d66001d3d

FAQ

What were Dynacor Gold Mines' sales figures for October 2021?

Dynacor Gold Mines reported sales of US$16.8 million for October 2021.

How much have Dynacor's total sales increased in 2021 compared to 2020?

Total sales in 2021 increased by 119%, reaching US$162.4 million.

What is the projected sales target for Dynacor Gold Mines for 2021?

Dynacor aims for projected sales between US$185 million and US$190 million for 2021.

What was the average selling price of gold for Dynacor in October 2021?

The average selling price of gold per ounce for Dynacor in October 2021 was US$1,772.