Dynacor Sales of US$19.5 mn until March

May 10, 2023

Dynacor Group Inc, an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), announced that it had recorded unaudited gold sales of US$19.5 million for March 2023, compared to US$18.7 million (C$23.7 million) in March 2022. In March, the average selling price of gold was US$ 1,918 per ounce, compared to US$1,935 per ounce in March 2022.

Three months year to date cumulative sales amount to US$ 56.7 million in 2023 compared to US$50.1 million in 2022, a 13.2% increase. From mid-January 2023, due to political unrest mostly in southern Peru, the Corporation had decided to postpone exports for safety measures.

Those exports were completed in February. This explains the monthly sales variances in Q1-2023. During March 2023, the Veta Dorada plant processed 13,775 tonnes of ore for a total of 41,565 tonnes during the quarter. The Corporation recently announced its sales guidance for 2023 in the range of US$210 million and US$235 million (C$284 million and C$318 million) on US1,800 and US 1,900 per ounce average gold price.

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