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Dynacor Gold reports first half gold sales of US$83.6 million from ore processing in Peru

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Sales for the month of June came in at US$14.5 million, with the average selling price of US$1,815 per ounce, down slightly from the US$1,873 received in May. Sales for the second quarter ending June 30 were US$42.7 million, representing Dynacor’s best quarter of sales for the year.

Additional Information:

Company: Dynacor Gold Mines
Website: http://www.dynacor.com
Stock Symbol: TSX: DNG
Date Published: Jul 15, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Montreal-based Dynacor Gold Mines has reported its unaudited gold sales as at June 30, 2021.

Sales for the month of June came in at US$14.5 million, with the average selling price of US$1,815 per ounce, down slightly from the US$1,873 received in May.

Sales for the second quarter ending June 30 were US$42.7 million, representing Dynacor’s best quarter of sales for the year.

With total gold sales of US$83.6 million for the first 6 months, the company is comfortably ahead of management’s posted sales guidance of US$150 million for 2021, and on course for a record-breaking year, based on an average price of US$1,850 per ounce,

The company will release its second quarter financials on August 16, 2021.

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 percent to US$0.0067 monthly or approximately CDN$0.08 annually.

Strategically located minutes off the Pan American Highway in Peru, Dynacor is a significant processor of gold ore purchased from artisanal miners and the small-scale mining industry or “ASM” in Peru.

The company recently completed the expansion of its Veta Dorada ore processing plant.

This expansion, budgeted at $1.8 million, was funded through internally generated cash flow, and will enable Dynacor to increase production, improve cost efficiencies, create jobs and elevate the company to top spot as Peru's largest purchaser and processer of gold ore from the artisanal and small-scale mining community.

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.

With decades of experience in Peru, the company intends to expand its processing operations to other jurisdictions.

It also owns the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department.

The shares are trading at $2.65

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.

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I’m Megan Edwards for Investmentpitch Media