Dynacor producing over 11K oz gold in May
Average sale price of gold up 11.6% in May 2023
Dynacor Group Inc, an international industrial gold ore processing company serving artisanal mining producers, announced its best lifetime monthly gold production with a record 11,114 gold equivalent ounces and sales (unaudited) of US$21.5 million (CA$29.1 million) for the month of May 2023, the third best month in the Company’s history, compared to US$19.5 million (CA$25.1 million) in May 2022, an increase of US$2.0 million or 10.3% compared to the last year.
The variation compared to 2022 is explained by a volume difference of +2.6% and a positive price difference of +7.7%. This also represents an increase of US$2.4 million (CA$3.3 million) or 12.6% compared to April 2023.
The average sale price of gold in May was US$1,980 per ounce compared to US$1,845 per ounce in May 2022.
Cumulative sales at the end of May 2023 amounted to US$97.3 million compared to US$87.2 million at the same period of 2022, an increase of 11.6%. The average sale price at the end of May 2023 was US$1,921 per ounce compared to US$1,879 per ounce in 2022.
For fiscal year 2023, the Company forecasts estimated sales between US$210 and US$235 million based on an average gold price of US$1,800 and US$1,900 per ounce.
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