Dynacor Group Reports Sales of US$25.0 Million for April 2024

Dynacor Group Reports Sales of US$25.0 Million for April 2024

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$25.0 million (C$34.2 million) (1) for April 2024, compared to US$19.1 million (C$25.8 million) in April 2023.

Sales increase versus April last year of US$5.9 million or 30.9% is due to increases in sales volumes (+US$2.2 million) and in sales price (+US$3.7 million). Month-to-month increase of US$4.3 million a 20.8% increase over March 2024.

In April, the average selling price of gold was US$2,340 per ounce, compared to US$1,998 per ounce in April 2023 as gold price continued its rise.

The 2024 cumulative sales at the end of April amounted to US$92.7 million, compared to US$75.8 million for the same period of 2023, a 22.3% increase. The average selling price of gold at the end of April 2024 was US$2,141 per ounce compared to US$1,904 per ounce in 2023.

During April 2024, the Veta Dorada plant continued working at full pace processing over 14,000 tonnes.

The Corporation announced sales guidance for 2024 ranging between US$265-285 million using a market gold price ranging between US$2,000 and US$2,050 per ounce.

(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: 36,568,356

Website: http://www.dynacor.com
Twitter: http://twitter.com/DynacorGold

For more information, please contact:

Director, Shareholder Relations
Dale Nejmeldeen
Dynacor Group Inc.
T: 514-393-9000 #230
E: investors@dynacor.com

News Provided by Business Wire via QuoteMedia

DNG:CA
The Conversation (0)
Dynacor Group Declares June 2024 Dividend

Dynacor Group Declares June 2024 Dividend

Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation) announced its monthly dividend payment for June 2024 in the amount of C$0.01167 per common share which will be payable on June 18, 2024, to shareholders of record as of the close of business on June 7, 2024. This dividend represents the fifty-first (51 st ) dividend and forty-first (41 st ) monthly payment made to shareholders.

The Corporation's monthly dividend qualifies as an "eligible dividend" for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation's financial results, cash requirements, prospects and other factors deemed relevant by the Board.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Dynacor Group Reports Record Quarterly Sales of $67.7 Million and a Net Income of $4.8 Million in Q1-2024

Dynacor Group Reports Record Quarterly Sales of $67.7 Million and a Net Income of $4.8 Million in Q1-2024

Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation) released its unaudited condensed interim consolidated financial statements and the management's discussion and analysis (MD&A) for the first quarter ended March 31, 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240516127576/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Dynacor Group: Veta Dorada Plant Receives International Cyanide Management Certification

Dynacor Group: Veta Dorada Plant Receives International Cyanide Management Certification

Dynacor Group Inc. (TSX-DNG) (Dynacor or the Corporation), an international gold ore industrial corporation servicing ASMs (artisanal and small-scale miners), announced today that the Veta Dorada plant, a subsidiary in Peru, was certified in compliance with the International Cyanide Management Code (Cyanide Code).

The certification was granted by the International Cyanide Management Institute (ICMI), a non-profit corporation established to administer the Cyanide Code and develop and provide information on responsible practices for handling cyanide.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Dynacor Receives TSX Approval to Renew Normal Course Issuer Bid

Dynacor Receives TSX Approval to Renew Normal Course Issuer Bid

Group Dynacor Inc. (TSX: DNG) ("Dynacor" or the "Corporation") is pleased to announce that the Toronto Stock Exchange (TSX) has approved the Corporation's request to renew a normal course issuer bid (NCIB) program, through which Dynacor may purchase, for cancellation, up to 2,928,607 common shares or approximately 10% of the public float (29,286,075 common shares as of April 22, 2024).

Dynacor is in a financially strong position to continue to return a portion of its cash to its shareholders through the NCIB. Additionally, it is reviewing other value-added opportunities which could further contribute to enhancing shareholder value.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Dynacor Group Declares May 2024 Dividend

Dynacor Group Declares May 2024 Dividend

Dynacor Group Inc. (TSX: DNG) (Dynacor or the Corporation) announced its monthly dividend payment for May 2024 in the amount of C$0.01167 per common share which will be payable on May 16, 2024, to shareholders of record as of the close of business on May 8, 2024. This dividend represents the fiftieth (50 th ) dividend and fortieth (40 th ) monthly payment made to shareholders.

The Corporation's monthly dividend qualifies as an "eligible dividend" for Canadian income tax purposes. The payment and increase of dividends are at the discretion of the Board and will depend on the Corporation's financial results, cash requirements, prospects and other factors deemed relevant by the Board.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

NOVAGOLD Welcomes Peter Adamek as New Chief Financial Officer

NOVAGOLD RESOURCES INC. ("NOVAGOLD" or the "Company") (NYSE American, TSX: NG) is pleased to announce the appointment of Peter Adamek as Vice President and Chief Financial Officer (CFO) of the Company effective July 15, 2024. The appointment of Mr. Adamek comes following the retirement of NOVAGOLD's long-serving CFO, David Ottewell, capping off a successful career in the mining sector. Mr. Ottewell will stay on until July 15, 2024 to ensure a seamless transition.

"On behalf of NOVAGOLD, I wish to extend my sincere gratitude to David for his loyalty to the Company over the last 12 years," said Greg Lang, President and Chief Executive Officer. "David has been instrumental in developing our finance strategy, building our finance team, and maintaining a strong balance sheet during his tenure — positioning the Company to continue to advance Donlin Gold up the value chain, while generating significant value for our stakeholders. David has been a valuable team member and a dear colleague over the years, and I thank him for his skillful leadership and remarkable contribution to our work. We wish him well in his retirement."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

B2Gold Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce an initial Inferred Mineral Resource Estimate for the Springbok Zone, the southernmost shoot of the recently discovered Antelope deposit, located approximately three kilometers ("km") south of the Otjikoto Phase 5 open pit at the Otjikoto Mine in Namibia. All dollar figures are in United States dollars unless otherwise indicated.

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Three gold bullion bars on top of USA flag.

Trump vs. Biden: How Could the US Election Affect the Gold Price?

The US election is quickly approaching, and the second face off between current president Joe Biden and former president Donald Trump promises to be a much-discussed race to the finish line on November 5.

In 2020, Biden presented himself as a candidate who would bring Republicans and Democrats together, challenging Trump’s divisive and populist rhetoric of making America great again. Trump ultimately lost that election, but recent polling shows that either candidate could still pull ahead in the months leading up to the vote.

In the resource sector, market participants are starting to wonder how the presidential race may affect the gold price. While the yellow metal is driven by diverse factors, the US — and by extension its leader — impacts many of them, including the global geopolitical environment, interest rates and the performance of the US dollar.

Keep reading...Show less
EMU NL (ASX:EMU)

EMU NL


Keep reading...Show less
Steve Robertson, president of Prismo Metals.

Prismo Metals Poised to Benefit from Looming Copper Crunch, Exec Says

The copper market's current state presents both a challenge and an opportunity for explorers like Prismo Metals (CSE:PRIZ,OTCQB:PMOMF,FWB:7KU), Steve Robertson, the company’s new president, told the Investing News Network.

A forecast supply deficit looms on the horizon and is expected to take full effect by 2025, prompting a sense of urgency among copper producers and explorers alike.

"For quite some time now ... there's been a deficit, this forecast for 2025," Robertson said, pointing to a critical market juncture.

Keep reading...Show less

Latest Press Releases

Related News

×