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.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
