Mr. Dale Nejmeldeen reports
DYNACOR GROUP REPORTS SALES OF US$21.4 MILLION FOR JULY 2024
Dynacor Group Inc. has recorded unaudited gold sales of $21.4-million (U.S.) ($29.4-million) for July, 2024, compared with $22.5-million ($29.7-million) in July, 2023.
This level of sales represents a month-to-month increase of $2.7-million (U.S.) (14.4-per-cent increase) over June, 2024, which amounted to $18.7-million (U.S.) ($25.6-million). The slight decrease in sales versus July, 2023, of $1.1-million (U.S.) is due to decreases in volumes due to lower grades of ore supplied (decrease of $5.1-million (U.S.)) not fully offset by increases in sales price (increase of $4-million (U.S.)).
In July, the average selling price of gold was $2,389 (U.S.) per ounce, compared with $1,945 (U.S.) per ounce in July, 2023, as gold price continued rising reaching even its historical high during the month.
In July, 2024, the Veta Dorada plant continued working at full pace processing over 15,000 tonnes, or an average of 492 tonnes per day.
The 2024 cumulative sales at the end of July amounted to $156.5-million (U.S.), compared with $143.7-million (U.S.) for the same period in 2023, an 8.9-per-cent increase. The average selling price of gold at the end of July, 2024, was $2,221 (U.S.) per ounce compared with $1,927 (U.S.) per ounce in 2023.
The corporation announced sales guidance for 2024 ranging between $265-million (U.S.) and $285-million (U.S.) using a market gold price ranging between $2,000 (U.S.) and $2,050 (U.S.) per ounce and is still on pace to reach those targets.
ABOUT Dynacor
Gold Inc.
Dynacor is a dividend-paying industrial gold ore processor headquartered in Montreal, Canada. The corporation is engaged in gold production through the processing of ore purchased from the ASM (artisanal and small-scale mining) industry. At present, Dynacor operates in Peru, where its management and processing teams have decades of experience working with ASM miners. It also owns a gold exploration property (Tumipampa) in the Apurimac department.
The corporation intends to expand its processing operations in other jurisdictions as well.
Dynacor produces environmental and socially responsible gold through its PX Impact gold program. A growing number of supportive firms from the fine luxury jewellery, watchmaker and investment sectors pay a small premium to Dynacor's customer and strategic partner for this PX Impact gold. The premium provides direct investment to develop health and education projects for Dynacor's artisanal and small-scale miner communities.
Dynacor is listed on the Toronto Stock Exchange under the symbol DNG.
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