InvestmentPitch Media Video Discusses Dynacor Gold Mines’ February Gold Sales of US$16.7 Million, or Approximately CDN$21.2 Million, a 40.3% Increase over February 2021

Rhea-AI Summary

Dynacor Gold Mines reported February gold sales of US$16.7 million, a remarkable 40.3% increase from February 2021. Month-over-month, sales rose by 13.6%. Year-to-date sales reached US$31.4 million, marking a 12.1% increase compared to the same period last year. The average selling price of gold increased from US$1,785 in February 2021 to US$1,884 in February 2022. The company anticipates sales guidance between US$200 million and US$220 million for 2022, maintaining a dividend of 10 cents per share.

Positive

• 40.3% increase in February gold sales YoY.
• 13.6% month-over-month sales increase from January.
• Year-to-date gold sales exceed US$31.4 million, a 12.1% increase YoY.
• Average gold selling price rose to US$1,884 per ounce.
• Sales guidance for 2022 set between US$200 million and US$220 million.
• Consistent dividend payments of 10 cents per share.

Negative

• None.

VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Gold Mines (TSX:DNG), a dividend-paying industrial gold ore processor, has reported its monthly gold sales for February. The company reported February gold sales of US$16.7 million (unaudited), or approximately CDN$21.2 million, a 40.3% increase over February 2021.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Dynacor” in the search box.

Dynacor also saw a 13.6% month-over-month increase from January. The two months year to date cumulative gold sales came in at US$31.4 million for 2022, a 12.1% increase over the US$28.0 million reported for the first two months of 2021. The company received an average selling price of US$1,884 per ounce of gold in February up from the US$1,785 per ounce received in February 2021.

The company recently announced its sales guidance for 2022 in the range of US$200 to $220 million based on an average gold price of US1,810 per ounce for the year. Dynacor increased its monthly dividend twice during 2021 and currently pays 10 cents per share on an annual basis.

Dynacor, an international gold ore industrial company, purchases ore from artisanal and small-scale miners, which it processes at its Veta Dorada processing plant, which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. In 2021, Dynacor increased its Veta Dorada processing plant's capacity by 30% and is currently working at its full capacity of 430 tpd.

With decades of experience in Peru, consistently operating and exporting gold since 1998, the company intends to expand its processing operations to other jurisdictions. The company also owns the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.

Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities.

The shares are currently trading at $3.27. For more information, please refer to the company’s news release, visit the company’s website www.dynacor.com, or contact the company at 514-393-9000 ext 230 or by email at investors@dynacor.com.

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers' information only. Dynacor Gold Mines has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services, is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What was Dynacor Gold Mines' gold sales in February 2022?

Dynacor Gold Mines reported gold sales of US$16.7 million in February 2022.

How much did Dynacor's gold sales increase compared to February 2021?

Gold sales increased by 40.3% compared to February 2021.

What is Dynacor's sales guidance for 2022?

Dynacor has provided a sales guidance range of US$200 million to US$220 million for 2022.

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

The average selling price of gold in February 2022 was US$1,884 per ounce.

How much did Dynacor sell in total year-to-date as of February 2022?

Dynacor's year-to-date gold sales reached US$31.4 million as of February 2022.