Dynacor Reports Sales of US$14.7 Million (C$20.1 Million) for October 2022
Dynacor Group Inc. reported gold sales of US$14.7 million for October 2022, down 12.5% from US$16.8 million in October 2021. The decline is attributed to a lower average gold price, which fell to US$1,643 per ounce, down from US$1,772. The cumulative sales for the year reached US$164.7 million, a slight increase of 1.4% compared to 2021. The year-to-date average selling price remained stable at US$1,803 per ounce, compared to US$1,790 the previous year.
- Year-to-date cumulative sales increased to US$164.7 million, up 1.4% from 2021.
- Year-to-date average selling price of gold is US$1,803 per ounce, higher than last year's US$1,790.
- October 2022 gold sales decreased by US$2.1 million, a 12.5% decline year-over-year.
- Average gold price dropped to US$1,643 per ounce from US$1,772 in October 2021.
- Lower quantities of gold sold due to decreased ore grades contributed to the sales decline.
MONTREAL, Nov. 16, 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 October 2022 was US
The
The 2022 cumulative sales at the end of October amounted to 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: 38,572,507
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
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FAQ
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