Dynacor Reports Sales of US$19.5 Million (C$25.1 Million) FOR May 2022, a 24.2% Increase Compared to 2021
DYNACOR REPORTS SALES OF US$19.5 MILLION (C$25.1 MILLION) FOR MAY
2022, A 24.2% INCREASE COMPARED TO 2021
Montreal, June 15, 2022 – Dynacor Gold Mines Inc. (TSX -DNG) (Dynacor or the "Corporation"), an
international gold ore industrial corporation servicing ASMs (artisanal and small -scale miners), today
announces sales of US$ 19.5 million (unaudited) (C$2 5.1 million) (1) for May 2022 compared to
US$15.7 million in May 2021, a 24.2% increase over last year and a 10.8% month-over-month increase
from the previous month sales.
During May, the Veta Dorada plant continued working at its full 430 tpd production capacity.
The average selling price of gold per ounce in May was US$ 1,845/oz compared to US$1,873/oz in
May of last year.
The 2022 c umulative sales at the end of May amount to US$8 7.2 million compared to
US$69.2 million for the same period in 2021, a 26.0% increase.
For 2022, the Corporation forecasted sales in the range of US$200 - $220 million based on US$1,800
per ounce average gold price.
(1) US$ sales are converted into CA$ using the average monthly exchange rate for the concerned month or months
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: 38,765,367
Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold
CONTACT: For more information, please contact:
Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Gold Mines Inc.
T: 514-393-9000 #230