Metals Update 10/06/2021

Dynacor has May sales of $15.7-million (U.S.)

Dynacor Gold Mines Inc. has made $15.7-million (U.S.) (unaudited) ($19-million (Canadian)) in sales for May, 2021, and cumulative 2021 sales of $69.1-million (U.S.) (unaudited) ($86.4-million (Canadian)).

Reporting its second-best month of sales year to date and a 26 per cent month-over-month increase ($12.5-million (U.S.) in April), the corporation is pleased to announce that it is well within exceeding its financial guidance based on the strong results from the first five months of the year. On Feb. 18, 2021 (see news release), Dynacor published an annual financial guidance report including sales of $150-million (U.S.) ($191-million (Canadian)) and EPS (earnings per share) of 18 U.S. cents at an average $1,850 (U.S.) per ounce gold price. The average selling price of gold per ounce in May, 2021, was $1,873 (U.S.).

Plant expansion: construction progress update

The expansion nearing completion will permit Dynacor to maintain a maximum gold recovery rate and boost processing volumes to 430 tonnes per day. Due to a significant rise in ore supply over the last number of months, Dynacor has been steadily growing its throughput levels from its nameplate capacity of 300 TPD. As of today, the plant is operating at its maximum rate of 345 TPD. The expansion, which began in March, is progressing as planned and will be complete in the coming days.