Dynacor Reports Sales of US$15.0 Million (C$20.2 Million) FOR November 2022
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DYNACOR REPORTS SALES OF US$15.0 MILLION (C$20.2 MILLION) FOR
NOVEMBER 2022
Montreal, December 21, 2022 – Dynacor Group 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$15.0 million (unaudited) (C$20.2 million) (1) for November 2022, compared to
US$17.7 million (C$22.2 million) in November 2021, a decrease of US$2.7 million or 15.3% over last year.
The average selling price of gold in November 2022 was US$1,752 per oz, compared to US$1,814 per oz
last year.
The 2022 cumulative sales at the end of November am ounted to US$179.7 million, compared to
US$180.1 million for the same period in 2021. The year-to-date average selling price of gold at the end of
November 2022 was US$1,799 per oz compared to US$1,793 per oz in 2021.
As a result of the plant capacity increase during the month, the Corporation processed an all -time monthly
record of 13,191 tonnes of ore (12,480 tonnes in November 2021).
The $2.7 million sales decrease is due to the lower average gold price ( -$0.5 million) and the lower
quantities of gold ounces sold ($2.2 million), caused by monthly inventory variations and a reduced ore
grade compared to November 2021.
(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: 38,486,138
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
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CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Group Inc.
T: 514-393-9000 #230