Dynacor Group Reports Sales of US$21.4 Million for July 2024
19 August 2024 - 9:30PM
Business Wire
Dynacor Group Inc. (TSX-DNG) (Dynacor or the
"Corporation"), an international gold ore industrial
corporation servicing ASMs (artisanal and small-scale miners),
today announced that it had recorded unaudited gold sales of
US$21.4 million (C$29.4 million) (1) for July 2024, compared to
US$22.5 million (C$29.7 million) in July 2023.
This level of sales represents a month-to-month increase of
US$2.7 million (14.4% increase) over June 2024 which amounted to
US$18.7 million (C$25.6 million). Sales slight decrease versus July
last year of US$1.1 million is due to decreases in volumes due to
lower grades of ore supplied (-US$5.1 million) not fully offset by
increases in sales price (+US$4.0 million).
In July, the average selling price of gold was US$2,389 per
ounce, compared to US$1,945 per ounce in July 2023 as gold price
continued rising reaching even its historical high during the
month.
In July 2024, the Veta Dorada plant continued working at full
pace processing over 15,000 tonnes or an average of 492 tpd.
The 2024 cumulative sales at the end of July amounted to
US$156.5 million, compared to US$143.7 million for the same period
in 2023, a 8.9% increase. The average selling price of gold at the
end of July 2024 was US$2,221 per ounce compared to US$1,927 per
ounce in 2023.
The Corporation announced sales guidance for 2024 ranging
between US$265-285 million using a market gold price ranging
between US$2,000 and US$2,050 per ounce and is still on pace to
reach those targets.
(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: 36,431,706
Website: http://www.dynacor.com Twitter:
http://twitter.com/DynacorGold
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version on businesswire.com: https://www.businesswire.com/news/home/20240819987823/en/
For more information, please contact:
Director, Shareholder Relations Dale Nejmeldeen Dynacor Group
Inc. T: 514-393-9000 #230 E: investors@dynacor.com
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