MONTREAL, December 20, 2023--(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$24.4 million (C$33.4 million) ⁽¹⁾ for November 2023, compared to US$15.0 million (C$20.2 million) in November 2022, an increase of US$9.4 million or 62.7% over last year and is on its way to annual sales of US$250 million.

Sales increase versus November of last year is due to increase sales volume (+44.0%) and increase sales price (+18.7%).

During November 2023, the Veta Dorada plant continued working at full pace processing 14,502 tonnes (cumulative year to date of 156,340 tonnes).

In November, the average selling price of gold was US$1,983 per ounce, compared to US$1,752 per ounce in November 2022.

The 2023 cumulative sales at the end of November amounted to US$229.9 million, compared to US$179.7 million for the same period of 2022, a 27.9% increase. The average selling price of gold at the end of November 2023 was US$1,929 per oz compared to US$1,799 per oz in 2022.

For 2023, the Corporation forecasted sales in the range of US$210-$235 million based on an average gold price between US$1,800 and US$1,900 per ounce. At the current rate, Dynacor is on its way to historical annual sales of US$ 250 million for 2023.