Connect with us

Companies

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

MONTREAL, Sept. 21, 2022 (GLOBE NEWSWIRE) — Dynacor Group Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation…

Share this article:

Published

on

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

CONTACT: CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Group Inc.
T: 514-393-9000 #230

E: [email protected]

investment
tsx-dng
dynacor-gold-mines-inc
press-release

Share this article:

Companies

Alamos Gold Provides Notice of Third Quarter 2022 Results and Conference Call

TORONTO, Sept. 30, 2022 (GLOBE NEWSWIRE) — Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) plans to release its third quarter…

Share this article:

Continue Reading
Precious Metals

Silver Explorer ‘Could Be Sitting on Three-Four Million Ounces’

Source: Chris Temple   09/29/2022

After speaking with the president and CEO of Arizona Silver Exploration Inc., editor and publisher of The…

Share this article:

Continue Reading
Companies

Expert Says Lithium Co. ‘An Immediate Speculative Buy’

Source: Clive Maund   09/29/2022

Expert Clive Maund takes a look at the 6-month and 2-year charts for Spey Resources Corp., following the completion…

Share this article:

Continue Reading

Trending