Dynacor Reports Sales of US$104.0 Million (C$132.3 Million) for the First Half of 2022

Dynacor Group Inc. reported gold sales of US$104.0 million for the first half of 2022, a 24.3% increase from US$83.6 million in 2021.

Rhea-AI Summary

Dynacor Group Inc. reported gold sales of US$104.0 million for the first half of 2022, a 24.3% increase from US$83.6 million in 2021. June sales reached US$16.8 million, up from US$14.5 million in June 2021. Average gold prices rose to US$1,870 per oz, compared to US$1,805 in 2021. The company maintains its sales forecast for 2022 between US$200 - $220 million.

The second quarter financial results will be published on August 15, 2022.

Positive

• Sales increased by 24.3%, reaching US$104.0 million for H1 2022.
• June sales of US$16.8 million saw a year-over-year increase.
• Average gold price in H1 2022 was US$1,870 per oz, up from US$1,805.

Negative

• None.

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MONTREAL, July 20, 2022 (GLOBE NEWSWIRE) -- Dynacor Group Inc. (formerly Dynacor Gold Mines Inc.) (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced gold sales of US$104.0 million (unaudited) (C$132.2 million) ⁽¹⁾ for the first half of 2022, compared to US$83.6 million (C$104.3 million) in 2021, an increase of US$20.3 million or 24.3% over last year.

In June, the Corporation had sales of US$16.8 million (CA$21.5 million) compared to US$14.5 million (C$17.7 million) in June 2021. The average selling price of gold in June 2022 was US$1,829 per oz, compared to US$1,815 per oz last year.

The 2022 second-quarter sales amounted to US$53.9 million compared to US$50.1 million for Q1-2022. The comparative sales were as follows:

A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a41b164a-7fa5-4474-8edc-1cf95d277a01

2022 six months cumulative sales amounted to US$104.0 million, compared to US$83.7 million for the first half of 2021, a 24.3% increase. The average selling price of gold for the first half of 2022 was US$1,870 per oz compared to US$1,805 per oz in 2021.

For 2022, the Corporation forecasted sales in the range of US$200 - $220 million based on a year opening US$1,800 per ounce average gold price. At the end of June, the Corporation is in line with its forecasted sales.

Second quarter 2022 financial results

Dynacor will publish its second quarter 2022 financial results news release on Monday, August 15, 2022, before the opening of markets.

(1)   sales are converted using the monthly average exchange rate

ABOUT DYNACOR

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 jewelry, watchmakers and investment sectors pay a small premium to our customer and strategic partner for this PX IMPACT® gold. The premium provides direct investment to develop health and education projects for our artisanal and small-scale miner’s communities.

Dynacor is listed on the Toronto Stock Exchange (DNG).

FORWARD-LOOKING INFORMATION

Certain statements in the preceding may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.

Shares Outstanding: 38,850,702

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

PDF available: http://ml.globenewswire.com/Resource/Download/ea4ee699-a404-410f-a1f6-5215cf692127

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Dynacor's sales figures for the first half of 2022?

Dynacor reported gold sales of US$104.0 million for the first half of 2022.

How much did Dynacor's sales increase compared to the first half of 2021?

Sales increased by 24.3% compared to US$83.6 million in the first half of 2021.

What was the average selling price of gold for Dynacor in June 2022?

The average selling price of gold in June 2022 was US$1,829 per oz.

What is Dynacor's sales forecast for 2022?

Dynacor forecasts sales to be between US$200 - $220 million for 2022.

When will Dynacor publish its second quarter financial results?

Dynacor will publish its second quarter financial results on August 15, 2022.