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Dynacor Gold reports record monthly gold production in July and gold sales of US$16 million from ore processing in Peru

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Dynacor is a significant processor of gold ore, which it purchases from artisanal miners and the small-scale mining industry or “ASMs” in Peru, with more than 600 registered ASMs currently supplying ore.

Additional Information:

Company: Dynacor Gold Mines
Website: http://www.dynacor.com
Stock Symbol: TSX: DNG
Date Published: Aug 19, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Montreal-based Dynacor Gold Mines reported unaudited gold sales for July.

Sales of gold for the month of July 2021 came in at US$16 million or approximately CDN$20 million.

The solid monthly sales are a result of purchasing more than 14,000 tonnes and processing more than 12,000 tonnes of gold ore.

This was helped by a healthy gold market, with the company receiving an average of US$1,796 per ounce in July.

Gold production increased to 10,383 gold equivalent ounces, a new monthly record, as throughput at the recently expanded Veta Dorada plant reached the maximum capacity of 430 tonnes per day, a significant increase over the previous 345 tonne per day throughput.

The Veta Dorada plant is strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru.

At the beginning of the year, Dynacor issued financial guidance forecasting US$150 million in sales and net income of US$6.9 million or US$0.18 per share.

In February, the company replaced the CDN$0.015 quarterly dividend with a monthly dividend of CDN$0.005, which was recently increased by 33% to CDN$0.0067 monthly.

As the company is well ahead of its 2021 financial guidance, management is currently revising its 2021 sales and earnings guidance and expects to update the market with a new forecast news release in early September.

Dynacor is a significant processor of gold ore, which it purchases from artisanal miners and the small-scale mining industry or “ASMs” in Peru, with more than 600 registered ASMs currently supplying ore.

With decades of experience in Peru, consistently operating and exporting gold since 1998, the company intends to expand its processing operations to other jurisdictions.

Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsive 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 company also owns the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.

The shares are trading at $2.59.

For more information, please refer to the company’s news release, 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.

I’m Cassandra Bolinski for Investmentpitch Media