Dynacor Reports Sales of US$28.6 Million (C$38.5 Million) FOR February 2023
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DYNACOR REPORTS SALES OF US$28.6 MILLION (C$38.5 MILLION)
FOR FEBRUARY 2023
Montreal, March 15, 2023 – Dynacor Group Inc. (TSX -DNG) (Dynacor or the "Corporation"), an
international gold ore industrial corporation servicing ASMs (artisanal and small -scale miners), today
announced that it had recorded unaudited gold sales of US$ 28.6 million (C$ 38.5 million) (1) for
February 2023, compared to US$ 16.7 million (C$21.2 million) in February 2022. The plant processed just
over 13,000 tonnes of ore in February, operating at its full capacity of 500 tpd.
Due to the political unrest in January, including protests and roadblocks in the southern part of Peru, the
Corporation decided on January 16 to postpone for safety measures its gold export. The Corporation
resumed exports in early February, including selling January's second-half gold production and selling and
exporting the remaining two gold bars combining for 1,030 ounces, which had been retained for control
procedures since December 2019.
In February, the average selling price of gold was US$ 1,845 per ounce, compared to US$1,884 per ounce
in February of 2022.
Two months year to date cumulative sales amount to US$ 37.2 million (C$50.0 million) in 2023 compared
to US$31.4 million (C$39.8 million) in 2022, an 18.5% increase.
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.
(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: 38,428,048
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