Dynacor Group Inc released its audited annual consolidated financial statements and the management’s discussion and analysis (MD&A) for the year ended December 31, 2022. Dynacor completed 2022 with both production and financial historical high performances representing its twelfth (12th) consecutive year of profit.
The Corporation achieved a production record of 110,359 AuEq ounces powering total sales to $197.5 million just surpassing 2021 sales, and a net income of $12.0 million.
During the fourth quarter of 2022, the Corporation completed another plant expansion at its Veta Dorada plant, in Chala, Peru, increasing its mill capacity by an additional 16% to 500 tpd from previously 430 tpd. This capacity increase followed the 25% increase that was completed in mid-2021.
In 2022, the gold equivalent production amounted to 110,359 AuEq ounces compared to 106,862 AuEq ounces in 2021 a 3.3% increase. Total sales amounted to $197.5 million compared to $195.9 million in 2021. The $1.6 million increase is explained by higher average selling prices and quantities sold each contributing to a $0.8 million increase.
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