MONTREAL–(BUSINESS WIRE)–Dynacor Group Inc. (TSX-DNG) (Dynacor or the “Corporation”), an international gold ore industrial corporation serving ASMs (artisanal and small-scale miners), today announced that it has recorded unaudited gold sales of US$16.6 million (C$23.2 million) (1) in November 2024, compared to US$24.4 million (C$33.4 million) in November 2023. The Veta Dorada plant processes a 14,000 tons of ore in November 2024 or an average of 466 tpd.

Due to roadblocks in the southern part of Peru, the Corporation decided to postpone until December the two exports planned for the last week of November worth approximately US $ 10 million.

In November, the average selling price of gold was US$2,643 per ounce, compared to US$1,983 per ounce in November 2023. The average selling price of gold was slightly lower than in October 2024 (-US$55 per ounce or – 2.0%).

2024 cumulative sales at the end of November will amount to US$254.3 million, compared to US$229.9 million in the same period in 2023, a 10.6% increase. The average selling price of gold at the end of November 2024 was US$2,348 per ounce compared to US$1,929 per ounce in 2023.

The Corporation announced the sales guidance for 2024 from US$ 265-285 million using the market price of gold between US$ 2,000 and US$ 2,050 per ounce. The Corporation has already surpassed its 2023 full-year sales and is on track to meet forecasted guidance.

(1) Sales are converted using the monthly average exchange rate

ABOUT DYNACOR

Dynacor is a dividend paying industrial gold ore processor located in Montreal, Canada. The corporation engages in gold production by processing ore purchased from the ASM (artisanal and small-scale mining) industry. Currently, 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 department of Apurimac.

The corporation intends to expand its processing operations in other jurisdictions as well.

Dynacor produces gold in an environmentally and socially responsible manner through its PX IMPACT ® gold program. A growing number of supporting companies from the fine luxury jewelry, watch and investment sectors pay a small premium to our customers and strategic partners for this PX IMPACT ® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale mining communities.

Dynacor is listed on the Toronto Stock Exchange (DNG) and is part of the TSX30 program. The TSX30 is the flagship program that recognizes the 30 top-performing companies on the Toronto Stock Exchange (TSX).

FORWARD-LOOKING INFORMATION

Certain forward-looking statements may contain forward-looking statements, which involve known and unknown risks, uncertainties and other factors that could cause actual events to occur. Dynacor’s results, performance, or achievements, or industry results, may be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performances as of the date of this news release.

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Website: http://www.dynacor.com

See the original version on businesswire.com: https://www.businesswire.com/news/home/20241218354570/en/

For more information, please contact:
Dynacor Group Inc.
T: 514-393-9000 #232
E: [email protected]

Source: Dynacor Group Inc.