VANCOUVER, British Columbia, July  20, 2023  (GLOBE NEWSWIRE) -- Montreal-based Dynacor Group Inc (TSX:DNG), a dividend-paying international industrial gold ore processor, reported record high gold production for the month of June with monthly sales of US$23.9 million. The company recorded unaudited gold sales of US$23.9 million (CDN$31.8 million) for June 2023, an increase of 42.3% over the US$16.8 million (CDN$21.5 million) reported for June 2022. This sales increase came from a combination of a 34.5% increase in sales volume and a 7.7% increase in the price received for gold.

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In June, the company received an average price of US$1,933 per ounce gold, compared to US$1,829 per ounce received in June 2022. Gold sales for the six months ended June 30, 2023 reached a record of US$121.2 million, an increase of 16.5% over the US$104.0 million reported for the comparable period in 2022.

Dynacor, an international gold ore industrial company, purchases ore from artisanal and small-scale miners which it processes at its Veta Dorada processing plant, strategically located fifteen minutes off the Pan American Highway near Chala in southern Peru. During June, the Veta Dorada plantproduced a record of 11,619 gold equivalency ounces, driven by increased ore purchases.

The company recently announced its sales guidance for 2023 in the range of US$210 to US$235 million, assuming gold remains between US$1,800 and $1,900 per ounce. The company pays a monthly dividend, which was increased by 25% at the beginning of 2022 to CDN$0.10 per share annually and increased again effective January 2023 to CDN$0.12 annually.

The company owns 100% of the advanced stage Tumipampa gold exploration property in south central Peru’s Apurimac department. It also intends to expand its processing operations in other jurisdictions.

Dynacor, a founding partner in the PX IMPACT® gold program, produces environmental and socially responsible gold. A growing number of supportive firms from the fine luxury jewelry, watchmakers and investment sectors pay a small premium for this gold which provides direct investment to develop health and education projects for the artisanal and small-scale miner’s communities.

The shares are currently trading at $3.08 with 38,344,998 shares outstanding.

For more information, visit the company’s website www.dynacor.com, contact the company at 514-393-9000 ext 230 or by email at [email protected].

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