VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- Montreal-based Dynacor Gold Mines (TSX:DNG), a dividend-paying industrial gold ore processor, has reported its monthly gold sales for February. The company reported February gold sales of US$16.7 million (unaudited), or approximately CDN$21.2 million, a 40.3% increase over February 2021.
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Dynacor also saw a 13.6% month-over-month increase from January. The two months year to date cumulative gold sales came in at US$31.4 million for 2022, a 12.1% increase over the US$28.0 million reported for the first two months of 2021. The company received an average selling price of US$1,884 per ounce of gold in February up from the US$1,785 per ounce received in February 2021.
The company recently announced its sales guidance for 2022 in the range of US$200 to $220 million based on an average gold price of US1,810 per ounce for the year. Dynacor increased its monthly dividend twice during 2021 and currently pays 10 cents 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 2021, Dynacor increased its Veta Dorada processing plant's capacity by 30% and is currently working at its full capacity of 430 tpd.
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.
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 $3.27. 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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