MONTREAL--(BUSINESS WIRE)-- 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$20.1 million (C$27.1 million) (1) for February 2024 as the plant continued running at full capacity, processing 14,000 tonnes. In 2023, February sales amounted to US$28.6 million (C$38.5 million).

The negative variance of US$8.5 million compared to February of 2023 is explained by the postponement to February, of January 16 to January 31 2023 planned exports which contributed to significantly higher monthly sales in February 2023.

Cumulative sales after two months in 2024 amount to US$47.0 million (C$63.5 million) compared to US$37.2 million (C$50.0 million) in 2023, a 26.3% increase.

In February, the average selling price of gold was US$2,032 per ounce, compared to US$1,845 per ounce last year.

(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.