Dynacor reports 105% gold sales growth in February
(Kitco News) - Dynacor Gold Mines (TSX-DNG), an international gold ore industrial corporation servicing artisanal and small-scale miners, today announced US$11.9 million (unaudited) in sales for February 2021 compared to US$5.8 million (unaudited) in February 2020, a 105% increase.
According to Dynacor, following the company’s January purchase record of 9,931 tonnes, the ore purchase level continues to rise with over 11,248 tonnes purchased in February 2021, a 69.3% year over year increase compared to the 6,642 tonnes in February 2020. The average selling price of gold per ounce in February 2021 was US$1,785.
Monthly sales to date in 2021 of US$28 million (unaudited) for the first two months of the year well on track to exceed management’s 2021 sales guidance of $US150 million.
The company added that the solid start for 2021 enables Dynacor to increase its ore inventory, secure its first-quarter production through the annual rainy season, outpace the plant capacity, and increase work schedule.
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.