VANCOUVER, British Columbia, April 22, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Gold Mines (TSX:DNG), a dividend-paying industrial gold ore processor, has released its unaudited monthly gold sales for the month of March. Gold sales for March 2022 came in at US$18.7 million or C$23.7 million, an increase of 45.0% over March 2021 and a 12% month-over-month increase over February’s sales.
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First quarter sales amounted to US$50.1 million, a 22.5% increase over the US$40.9 million reported for the first quarter of 2021. The average selling price in March was US$1,935 per ounce compared to US$1,725 per ounce for March 2021.
The company is forecasting gold sales guidance for 2022 in the range of US$200 to $220 million, representing an expected growth of 4 to 14% over 2021 production sales, based on an average gold price of US1,810 per ounce for the year. In early 2021, the company replaced its quarterly dividend with a monthly dividend, which was increased twice during 2021, and currently pays CDN$0.10 per share on an annual basis.
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 mid-2021, Dynacor completed the expansion of its Veta Dorada plant which is now running at its full 430 tpd production capacity.
The company has plans for an 8-hole diamond drilling program, totalling 2,735 meters, at the company’s 100% owned, advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department, subject to reaching a work agreement with local communities. The company is continuing to assess other opportunities of growth in Peru as well as in other jurisdictions.
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.
The shares are currently trading at $3.37, with 38.7 million shares outstanding. 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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