InvestmentPitch Media Video Discusses Dynacor Gold Mines’ Reported Unaudited Gold Sales of US$19.5 Million for May 2022, an Increase of 24.2% over US$15.7 Million in May 2021

Rhea-AI Summary

Dynacor Gold Mines reported unaudited gold sales of US$19.5 million for May 2022, marking a 24.2% increase from US$15.7 million in May 2021 and a 10.8% month-over-month increase over April. The average selling price for gold in May was US$1,845 per ounce, compared to US$1,873 in May 2021. Cumulative gold sales reached US$87.2 million from January to May 2022, a 26.0% increase year-over-year. The company forecasts gold sales guidance for 2022 between US$200 and US$220 million.

Positive

• Gold sales for May 2022 increased by 24.2% year-over-year.
• Cumulative gold sales for the year are up 26.0% compared to 2021.
• Forecasting gold sales between US$200 million and US$220 million for 2022.

Negative

• Average gold selling price decreased from US$1,873 in May 2021 to US$1,845 in May 2022.

VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Gold Mines (TSX:DNG), a dividend-paying industrial gold ore processor, has reported its unaudited monthly gold sales for the month of May. Gold sales for May 2022 came in at US$19.5 million or C$25.1 million, an increase of 24.2% over the US$15.7 reported in May 2021 and a 10.8% month-over-month increase over sales in April.

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The average selling price for gold in May was US$1,845 per ounce compared to US$1,873 per ounce for May of 2021. The 2022 cumulative gold sales to the end of May amounted to US$87.2 million compared to US$69.2 million for the same period in 2021, an increase of 26.0%.

The company is forecasting gold sales guidance for 2022 in the range of US$200 to $220 million, representing an expected growth of 4 to 14% over 2021 production sales, based on an average gold price of US1,800 per ounce for the year.

Dynacor processes the ore it purchases from artisanal miners at its Veta Dorada processing plant which is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. In mid-2021, Dynacor completed the expansion of its Veta Dorada plant which is now running at its full 430 tpd production capacity.

At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with artisanal and small-scale miners. It also owns a gold exploration property in the Apurimac department in Peru. Dynacor intends to expand its processing operations in other jurisdictions as well.

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 $3.01, with 38.8 million shares outstanding. For more information, please 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 were Dynacor Gold Mines' gold sales in May 2022?

Dynacor Gold Mines reported gold sales of US$19.5 million in May 2022.

How much did Dynacor Gold Mines' gold sales increase compared to May 2021?

Gold sales in May 2022 increased by 24.2% compared to May 2021.

What is the cumulative gold sales figure for Dynacor Gold Mines up to May 2022?

The cumulative gold sales for Dynacor Gold Mines to the end of May 2022 amounted to US$87.2 million.

What is the gold sales forecast for Dynacor Gold Mines in 2022?

Dynacor Gold Mines forecasts gold sales between US$200 million and US$220 million for 2022.

What was the average selling price of gold for Dynacor Gold Mines in May 2022?

The average selling price of gold for May 2022 was US$1,845 per ounce.