Dynacor beats guidance (Again!) MONTREAL, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Dynacor Gold Mines Inc. (TSX-DNG) (Dynacor or the "Corporation"), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), today announced its monthly sales of US$15.8 million (unaudited) (C$20.2 million) (1) for December 2021, and total annual sales of US195.9 million (C$245.6 million), a 93% year-over-year increase.
The Corporation beat all sales expectations by exceeding initial guidance (released on February 18, 2021) of US$150 million and revised guidance (released on September 22, 2021) of US$185-190 million. In 2021, Dynacor also achieved a new record gold production of over 100,000 ounces for the first time in the Corporation’s history.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0c99224b-167f-4330-958a-678948885b3d
The average selling price of gold per ounce in December was US$1,789.
In 2021 Dynacor increased its Veta Dorada processing plant's capacity by 30%, from 330 tpd to 430 tpd. The Corporation plans to increase the plant's capacity further sometime in 2022. Furthermore, Dynacor ended 2021 with a robust level of inventory, which allows the Corporation to continue producing at full capacity at the start of 2022. With this expansion and production capability, Dynacor is well-positioned for continued growth in the ASM ore-processing business through 2022 and beyond.