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Dynacor Reports Sales of US$17.3 Million (C$22.4 Million) for August 2022

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MONTREAL, Sept. 21, 2022 - Dynacor Group reported gold sales of US$17.3 million in August 2022, a 13.9% decline from US$20.1 million in August 2021. The average selling price of gold was US$1,749 per oz, down from US$1,770 last year. Cumulative sales for 2022 reached US$135.6 million, marking a 13.2% increase year-over-year. The corporation projects 2022 sales between US$200 million and US$220 million.

Positive
  • Cumulative sales for 2022 reached US$135.6 million, a 13.2% increase year-over-year.
  • Dynacor forecasts sales between US$200 million and US$220 million for 2022.
Negative
  • August 2022 gold sales fell to US$17.3 million, a 13.9% decrease from August 2021.
  • Average selling price of gold in August 2022 was US$1,749 per oz, down from US$1,770 in August 2021.

MONTREAL, Sept. 21, 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$17.3 million (unaudited) (C$22.4 million) (1) for August 2022, compared to US$20.1 million (C$25.3 million) in August 2021, a decrease of US$2.8 million or 13.9% over last year.

The average selling price of gold in August 2022 was US$1,749 per oz, compared to US$1,770 per oz last year.

The 2022 cumulative sales at the end of August amounted to US$135.6 million, compared to US$119.8 million for the same period of 2021, a 13.2% increase. The yearly average selling price of gold at the end of August 2022 was US$1,839 per oz compared to US$1,798 per oz in 2021.

For 2022, the Corporation forecasted sales in the range of US$200 - $220 million based on a year opening US$1,800 per ounce average gold price.

(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: 38,718,942

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

PDF available: http://ml.globenewswire.com/Resource/Download/c3b3d724-cc7d-4c23-b74d-216694e4f36a


FAQ

What were Dynacor's gold sales for August 2022?

Dynacor reported gold sales of US$17.3 million for August 2022.

How much did Dynacor's gold sales decline in August 2022 compared to last year?

Sales declined by US$2.8 million or 13.9% from August 2021.

What is Dynacor's cumulative sales figure for 2022 as of August?

Cumulative sales for 2022 reached US$135.6 million.

What sales range is Dynacor forecasting for 2022?

Dynacor forecasts annual sales between US$200 million and US$220 million.

What was the average selling price of gold for Dynacor in August 2022?

The average selling price was US$1,749 per oz.

DYNACOR GROUP INC

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