Dynacor Reports Sales of US$14.3 Million (C$18.5 Million) for July 2022
Dynacor Group Inc. reported gold sales of US$14.3 million in July 2022, reflecting a 10.6% decrease from US$16.0 million in July 2021. The average selling price of gold fell to US$1,738 per oz, down from US$1,796. Cumulative sales for 2022 reached US$118.3 million, an increase of 18.7% compared to US$99.7 million in the same period last year. The company forecasts sales between US$200 million and US$220 million for the year based on average gold prices.
- Cumulative sales increased by 18.7% year-over-year to US$118.3 million.
- Forecasting annual sales between US$200 million and US$220 million.
- July 2022 gold sales decreased by 10.6% from July 2021.
- Average selling price of gold fell to US$1,738 per oz from US$1,796.
MONTREAL, Aug. 17, 2022 (GLOBE NEWSWIRE) -- Dynacor Group Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced gold sales of US
The average selling price of gold in July 2022 was US
The 2022 cumulative sales at the end of July amounted to US
For 2022, the Corporation forecasted sales in the range of US
(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: 38 801 402
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
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