Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Wallace Refiners) – 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.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
