Vancouver, British Columbia–(Newsfile Corp. – January 21, 2022) – Montreal-based Dynacor Gold Mines (TSX: DNG) a dividend-paying industrial gold ore processor, reported its monthly gold sales for December with annual production exceeding 100,000 ounces, a new yearly record. Unaudited sales of gold for the month of December came in at US$15.8 million or CDN$20.2 million, giving a total of US$195.9 million or CDN$245.6 million for the year, an increase of 93% year-over-year.
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The average selling price of gold per ounce in December was US$1,789.
The company beat all sales expectations by exceeding initial guidance of US$150 million that was released in February and revised guidance of US$185 to 190 million that was released in September. The company also achieved a new record annual gold production of more than 100,000 ounces for the first time in its history.
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 Peru. In 2021 Dynacor increased its Veta Dorada processing plant’s capacity by 30%, from 330 tpd to 430 tpd and plans to increase the plant’s capacity further sometime in 2022.
Furthermore, Dynacor ended 2021 with a robust level of inventory, which allows it to continue producing at full capacity at the start of 2022. With this expansion and production capability, the company is well-positioned for continued growth in the ore-processing business through 2022 and beyond and will be releasing its 2022 financial guidance shortly.
Based on these exceptional results, Dynacor increased its monthly dividend twice during 2021 and currently pays 10 cents per share on an annual basis.
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.
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.
The shares are currently trading at $3.15. 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 [email protected].
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